Inside Pensions

A Message from Lord Pickles and Lord Blunkett, followed by Inside Pensions's best practice article

The ability to listen and learn from one another has always been vital in parliament, in business and in most aspects of daily life. But at this particular moment in time, as national and global events continue to reiterate, it is uncommonly crucial that we forge new channels of communication and reinforce existing ones. The following article from Inside Pensions is an attempt to do just that. We would welcome your thoughts on this or any other Parliamentary Review article.

Blunkett signature Rt Hon The Lord David Blunkett, MP
Pickles signature Rt Hon The Lord Eric Pickles, MP
THE PARLIAMENTARY REVIEW
Highlighting best practice
22 | INSIDE PENSIONS
Celebrating as a team
F
ounded in 2008, Inside Pensions has grown from a boutique
business to the largest independent pensions executive support
provider in the UK. Based in St Albans, Hertfordshire, their core
philosophy has always put the clients’ needs, and those of their
team, at the centre of everything they do. Directors Ryan Powell and
Rachael Fortescue explain that Inside Pensions works closely with
over 50 UK pension schemes to ensure they have the highest level of
governance achievable and deliver the best value for their members.
Our growth has been organic, increasing the range of our offerings so we deliver
an impressive combination of services to our existing UK pension trustee clients
while adding new appointments year on year. We have never lost a client to a
competitor, and through our holistic approach to service provision, the scope of our
original mandates has been considerably expanded. We continually strive to build
best practice until it becomes routine. Martin Carroll, Co-Chair of the First UK Bus
Pension Scheme, said “We have made many decisions in the last five years but the
best decision by far was appointing Inside Pensions to provide secretariat support.”
Our success
Our approach recognises our strengths as a business, as a team and as individuals. We
strongly believe that to succeed in a fiercely competitive industry, Inside Pensions needs
to continue to embrace diversity and flexibility while allowing our team to be both
empowered and trusted. We deliberately ensure that our team is diverse in a number of
ways, by age, by gender, by strengths and also by background. This means that we have
a wide pool of differing talents that we can call upon to meet our clients’ needs. Our
tailored client teams ensure a cost-effective solution, delivering real value for money.
We succeed as a team so it is really important that we also celebrate our successes
as a team. For our most recent celebration, we took a table at Ascot and ran a
draw in the office to select those who would attend. We’re just deciding where to
take the next group of winners.
Flexibility
We are not only flexible in how we work with our clients, but also with our team.
Our role is very varied, attending trustee meetings, dealing with a wide range of
advisers and suppliers, ensuring best practice governance is implemented by our UK
pension scheme clients. Precision is key.
Allowing our team to work according to both our clients’ needs and their individual
schedules means that traditional offices hours rarely coincide. Working from home,
from client sites and in-office hot-desking allows our staff to achieve impressive
results while maintaining a healthy work-life balance.
AT A GLANCE
INSIDE PENSIONS
»Directors: Ryan Powell and
Rachael Fortescue
»Founded in 2008
»Based in St Albans,
Hertfordshire
»Services: Trustee executive
services
»No. of employees: 30
»Our UK pension schemes’
clients control over £100
billion of assets
Inside Pensions
Director Ryan Powell
23INSIDE PENSIONS |
BEST PRACTICE REPRESENTATIVE 2019
»OUR SERVICES
»Core pensions executive
support
»Strategic and risk reviews
»Co-ordinating liability
management solutions
»Pensions manager support
»
Ad hoc
trustee training
»Pensions communications
»Third party adviser reviews
Our flexibility has enabled us to recruit,
nurture and retain the very best talent
available. Each member of the team
has taken the Gallup Strengthsfinder
assessment to identify their core
strengths. We then discuss these in our
one-to-ones and wider team meetings
to make the best use of the strengths
we have.
We encourage ideas and suggestions
for continued improvement from all
our staff, regardless of their role or
experience. As a team, we actively seek
feedback from our clients; this allows
us to build strong, effective teams with
a great fit and to deliver consistent
value, reducing our clients’ ever-
growing regulatory burden.
Flexibility case study – Judith
Codling, senior scheme
secretary
With over 20 years in the pensions
industry, I joined Inside Pensions
in 2016. As a single mum with a
football-mad 15-year-old, I needed a
role which allowed me to juggle my
home commitments with those at
work. In just over two years with Inside
Pensions, I have been promoted to
the role of a senior scheme secretary
and am now a member of the
management team.
In a break from pensions, I had
qualified as a school teacher and
wanted to give back to the education
system. The flexibility that Inside
Pensions has given me, both in
terms of working remotely and with
organising my hours to suit me and
my clients, has enabled me to become
a parent-governor at my son’s school
and a child welfare officer at his
football club.
Embracing the digital age
We are passionate about process
and order and are committed to
providing services that exceed our
clients’ requirements. Our values of
integrity, clarity and simplicity apply
to everything we do. Our tailored
in-house systems, designed through
our wealth of experience, help our
UK pension scheme clients to run
efficiently and effectively. In short,
we provide our clients with the clarity
they need to ensure great governance
beyond just simple compliance.
Our office is largely paperless.
We encourage all our boards and
committees to have soft copy meeting
packs and educate our more mature
trustees around accessing information
digitally. Our bespoke trustee libraries
embrace technology, allowing trustees
to securely access all their essential
scheme documents in one place
and track their running costs on a
quarterlybasis.
The future
Being flexible and nimble has allowed
us to continually evolve to meet the
growing demand for outsourced
services. To expand the range of
services we provide in 2019 and
beyond, we continue to recruit
seasoned, high-quality team players to
complement our existing experienced
talent and help a new generation of
pension schemes thrive and flourish.
As the pensions world switches from
the paternalism of defined benefit
schemes to the individualism of
defined contribution, our dedication to
strong governance support continues
to help our expanding client base to
face their challenges. In summary,
trustees need an experienced pair of
hands to help them map the future
and ensure the best possible outcomes
for their members. Our oversight of
the changing pensions landscape,
gained by our continued work on
over 50 schemes, puts us in a strong
position to compete and guide, with a
consistency of service second tonone.
Director Rachael Fortescue
We have made
many decisions in
the last five years
but the best
decision by far
was appointing
Inside Pensions
to provide
secretariat
support

The Parliamentary Review Publication, in which this article originally appeared, contained the following foreword from the prime minister.

The Rt Hon Theresa May MP's Foreword For The Parliamentary Review

By The Rt Hon Theresa May MP

British politics provides ample material for analysis in the pages of The Parliamentary Review. For Her Majesty’s Government, our task in the year ahead is clear: to achieve the best Brexit deal for Britain and to carry on our work to build a more prosperous and united country – one that truly works for everyone. 

The right Brexit deal will not be sufficient on its own to secure a more prosperous future for Britain. We also need to ensure that our economy is ready for what tomorrow will bring. Our Modern Industrial Strategy is our plan to do that. It means Government stepping up to secure the foundations of our productivity: providing an education system that delivers the skills our economy needs, improving school standards and transforming technical education; delivering infrastructure for growth; ensuring people have the homes they need in the places they want to live. It is all about taking action for the long-term that will pay dividends in the future.

But it also goes beyond that. Government, the private sector and academia working together as strategic partners achieve far more than we could separately. That is why we have set an ambitious goal of lifting UK public and private research and development investment to 2.4 per cent of GDP by 2027. It is why we are developing four Grand Challenges, the big drivers of social and economic change in the world today: harnessing artificial intelligence and the data revolution; leading in changes to the future of mobility; meeting the challenges of our ageing society; and driving ahead the revolution in clean growth. By focusing our efforts on making the most of these areas of enormous potential, we can develop new exports, grow new industries and create more good jobs in every part of our country.

Years of hard work and sacrifice from the British people have got our deficit down by over three quarters. We are building on this success by taking a balanced approach to public spending. We are continuing to deal with our debts, so that our economy can remain strong and we can protect people’s jobs, and at the same time we are investing in vital public services, like our NHS. We have set out plans to increase NHS funding annually by an average by 3.4 percent in real terms: that is £394 million a week more. In return, the NHS will produce a ten-year plan, led by doctors and nurses, to eliminate waste and improve patient care.

I believe that Britain can look to the future with confidence. We are leaving the EU and setting a new course for prosperity as a global trading nation. We have a Modern Industrial Strategy that is strengthening the foundations of our economy and helping us to seize the opportunities of the future. We are investing in the public services we all rely on and helping them to grow and improve. Building on our country’s great strengths – our world-class universities and researchers, our excellent services sector, our cutting edge manufacturers, our vibrant creative industries, our dedicated public servants – we can look towards a new decade that is ripe with possibility. The government I lead is doing all it can to make that brighter future a reality for everyone in our country. 

British politics provides ample material for analysis in the pages of The Parliamentary Review 
The Rt Hon Theresa May MP
Prime Minister