With more employees then ever enrolled in workplace pension schemes, the pressure is on for employers to ensure that schemes are well run.
If you have taken steps to offer an effective default investment strategy for your organisation’s DC pension scheme, why not receive a well-deserved pat on the back?
The Employee Benefits award for ’Best DC pension default investments’ is designed to recognise employers that have taken a proactive approach to ensuring their pensions default investments are geared towards providing the best possible outcome for members.
For example, have you set up a governance committee or review process to oversee the investment strategies of your default investment option or to look at the decisions members make, for example, around fund choices? Do you regularly review the strategies and aims of your scheme’s default investment option?
Do you monitor the performance of investments offered under your scheme’s default options? Or do you educate and engage with employees about the default investment option?
Consultants and advisers can also enter corporate clients they know to be making strides in this field.
The entry deadline for the Employee Benefits Awards 2014 is 17 January.