The Pensions Regulator has recently issued their latest Governance Survey. In it they discuss Adviser Appointments and the processes schemes have in place to manage them and how they review their effectiveness.
The results were concerning as they discovered that 60% of small schemes and 58% of large schemes had failed to put in place a formal process for appointing advisers and service providers.
"Around a third (35%) of schemes always have a formal process (such as a checklist) when appointing external advisers or service providers."
To read the survey in full, please click on the link below: