GOVERNANCE SOLUTIONS

Helping you to provide effective solutions for your clients

THE CHEVIOT PENSION

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.

  • 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 four professional trustees.
  • High level of professional expertise, including members of the Association of Pensions Lawyers.
  • A committee structure allows issues to be considered in depth.
  • The Cheviot Lifeplan automatically transitions members through different investments throughout their working lives.
  • Focusing on good member outcomes at retirement, our investment options target returns above inflation.
  • The core investment options outperformed their inflation based targets over five years to the end of 2020.
  • The targets include specific volatility targets, balancing returns against risk.
  • Ability to provide access to bespoke investment options.
  • Simple range of self-select options including access to direct equity funds, a Shariah fund and an Ethical fund, provided by external managers.
  • Trustees of existing defined contribution schemes can use Cheviot to manage their deferred members by transferring them without consent. Cheviot’s robust governance means that those members will be well looked after and in an environment which focuses on members’ outcomes.
  • The in-house administration team is employed by the Trustee, who sets the service level standards and monitors them quarterly.
  • A well-established audit assurance framework and authorisation regime demonstrates effective administration processes and controls through completion of both 02/07 and 01/20 reports.
  • A web-enabled administration system (IntelliPen) allows members to manage their own account, while employers can also access it to complete their tasks online (e.g. uploading contributions).
  • The online system shows up-to-date fund values.
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