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Risk management

Identifying and mitigating risks facing a pension scheme, using internal controls and handling conflicts of interest.

Identifying, evaluating and recording risks

What governing bodies should do to identify, monitor and assess risks to the scheme.

Internal controls

Using systems, procedures and arrangements to manage risks to a pension scheme.

Assurance reports on internal controls

Using assurance frameworks to monitor the administration and management of the pension scheme.

Scheme continuity planning

The steps that governing bodies and service providers should take to ensure scheme activities continue to happen on a regular basis.

Conflicts of interest

What governing bodies should do to effectively identify, manage and record conflicts of interest.

Own risk assessment

The areas that governing bodies must cover and document in their own risk assessment.

Risk management function

Operating a risk management function that facilitates the running of a risk management system, and regularly reviews and reports on risks.