Pensions Integrated Risk Management

The Deloitte guide to Integrated Risk Management (IRM) gives trustees and sponsors of Defined Benefit schemes a summary of the key issues raised by the Regulator’s guidance, as well as a step by step framework for designing and implementing IRM effectively

The Pensions Regulator (TPR) issued guidance to help pension scheme trustees design and implement an Integrated Risk Management (IRM) framework. This will be relevant for all defined benefit pension scheme trustees and their sponsors.

TPR has encouraged trustees and employers to implement an IRM framework as soon as possible, regardless of where they are in their valuation cycle.

IRM is not, however, about ticking boxes. It is crucial that each scheme has a process in place which is proportionate, works with the scheme’s governance structure and reflects the particular circumstances of the scheme and its sponsor(s).

In this report, we consider how different pension schemes can implement IRM, so as to derive better outcomes for scheme members.

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