GOVERNANCE SOLUTIONS

In the changing landscape of pension scheme regulation, Cheviot provides robust governance solutions for employers.

MASTER TRUST

The Cheviot pension provides a Master Trust alternative to a GPPP, reducing the governance responsibilities for employers.

Established as a new Section in 2000, the Cheviot pension is open to employers from all sectors. With robust governance, a leading-edge investment approach and award-winning communications to members, employers can rely on the Cheviot pension for their staff.

The Cheviot pension can be used in the following ways:

As the main pension offered by your organisation
As a pension scheme for a particular cohort(s) of your employees e.g. to fulfil auto-enrolment obligations
As a ‘bolt-on’ to an existing defined benefit or defined contribution scheme to allow members access to flexible benefits in retirement, within a cost-controlled, well governed arrangement
As a ‘bolt-on’ to an existing defined contribution scheme into which you can sweep deferred members without their consent, removing ex-employees from your scheme.

As an authorised Master Trust, employers can be confident about the overall quality of the scheme as the trustees, governance and systems and processes have all been reviewed in detail by the Regulator.

Led by Sir Derek Morris, the Cheviot pension is robustly managed by a Trustee board which includes both employer and member representatives as well as two professional trustees.
Employers’ interests are directly represented on the Trustee board.
A committee structure allows issues to be considered in depth.
High level of professional expertise.

The administration team is employed by the Trustee who set service level standards and monitor them quarterly.
A well-established audit assurance framework and authorisation regime demonstrate effective administration processes and controls.
A web-based administration system allows employers to complete their tasks online, e.g. upload contributions.