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ARTICLE · 16 JANUARY 2026

A Quick Guide To Pension Scheme Contracts

Shepherd and Wedderburn
Shepherd and Wedderburn
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All trustees rely on help from their advisers to run their pension schemes.

United KingdomEmployment and HR
Daniel Boynton
Daniel Boynton
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All trustees rely on help from their advisers to run their pension schemes. From administration to actuarial services, investment consultancy to legal advice, advisers and service providers have a key role to play in ensuring that schemes are properly run and that members are paid the right benefits.

All these relationships are governed by commercial contracts, and contract governance and review is a key role of trustees in the day to day running of their scheme. Poorly worded or unclear contract terms are a key risk management issue for trustees, and badly drawn contracts can come back to bite trustees many years after they are signed.

Contract governance is only set to increase, with requirements under TPR's General Code of Practice around monitoring adviser relationships.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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