Help will be available for trustees when they come to review their investment governance arrangements and compliance with the Myners Principles from Mercer, with the launch of its investment governance assessment service.

The financial consultant has unveiled the service as part of its commitment to help trustees respond to the increasingly complex financial markets, which features a combination of expertise from its investment and governance consulting businesses.

"Investment strategy considerations for pension schemes, and in many cases the investment arrangements adopted, are increasingly complex," commented Rachel Brougham, a principal in Mercer's governance consulting team. "Schemes often lack effective structures and processes to manage investment risk and this should be addressed. Our new service aims to help trustees assess the way they develop and monitor their investment strategy and investment management arrangements and to consider the alternative routes open to them."

The launch comes hot on the heels of Mercer's recently launched SFO Valuations 2009 report, which found that amongst the 257 schemes assessed, 40 per cent reviewed their investment strategy only every three years. A further 46 per cent said they did not undertake a periodic review of investment strategy, and that these reviews tend to be guided by events.

"There has been much criticism that the structure of trustee boards means they are ill-equipped to respond quickly and effectively to the demands of the modern market. The assessment service provides trustee boards with the means to review their current investment governance arrangements and identify opportunities for improvement in order to ensure their scheme performs as well as possible for members," added Brougham.

The service will analyse the current investment structure and processes of companies via a questionnaire, workshops and peer comparisons, and will support trustees in the identification, agreement of and execution of opportunities for improvement to their strategies.

Meanwhile, Zurich has launched a range of online support materials for advisers to help them and their clients consider key issues that will affect them in the near future.
Responding to industry expert predictions that the at retirement market is set to increase by 60 per cent over the next five years, Zurich has provided advisers with downloadable technical information on issues affecting the retirement market, as well as its latest customer literature.

"Many people will not have the retirement income that they might have expected," explained Dave Lowe, pensions management director at Zurich. "These individuals need professional financial advice to help them make the most of what they do have and possibly to consider alternatives to taking benefits now. We aim to help advisers address this issue by highlighting key considerations for advisers and their clients while ensuring that we continue to recognise the pivotal, personal role played by an adviser in the retirement process."

The online tools are available here.

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