Established in 1946, The Pensions Trust is an occupational pension scheme, established under Trust Law and run as a not-for-profit organization.
Headquarters: Leeds City Centre
Fund Size: £5.5 billion funds under management
Board Members: 12
Board & Committee Meetings per Annum: 4 Board Meetings, 23 Committee Meetings (20 of which are managed through BoardPacks)
In seeking a solution to improve their decision making and meeting management processes, The Pensions Trust discovered BoardPacks, enabling them to use technology efficiently, and in a way that improves their strategic objectives. The Trust were previously using an inefficient website which was intended to enable the Trustees to access information externally, but was fraught with access issues, resulting in Trustees ‘giving up’ and requesting to be emailed information instead. The website also did not allow any interaction between users.
The Head of Policy and Compliance at The Trust attended a number of eShare Governance Forums, and had spoken to various eShare users about their experiences with the software. The Chair of Trustees had also seen a presentation of the eShare software, and both parties agreed there could be real benefit in the Trust using the system. The Trust received a demonstration and were impressed with the software, recognising the benefits in terms of assisting Trustees in complying with the Trustee Knowledge and Understanding requirements; enhancing the decision making process; and reducing the time and costs associated with producing meeting packs. The Trust are using Knowledge as a document repository and Decisions to optimise the decision making process. They are also using BoardPacks for meeting management, and have adopted the BoardPacks app with iPads to make meetings more efficient and paper-free.
The Trust thinks the system is much easier to use than their previous website. Documents are securely stored in Knowledge where they can be easily accessed; they are also using BoardPacks as a communications tool, for advertising training events and for Trustees to update their training records. The decision-making process at the Trust has been streamlined with the introduction of Decisions; Colin Berrisford, Policy Administrator at the Pensions Trust explains, “Decisions is excellent for obtaining inter-meeting decisions, particularly where these need to be taken by a sub-committee that doesn’t meet very often.” BoardPacks has reduced the amount of time the Trust spend on photocopying board papers; and costs associated with paper, stationery and postage are significantly lower. Trustees are also able to get their meeting packs quicker as they no longer rely on the postal system. Frances Klejnow, Executive Assistant to the Trustee Board added, “A major benefit of using BoardPacks is the assurance that directors are all reviewing the same meeting pack; the inconsistency of packs if a paper is added, amended or withdrawn has been eliminated.” The Trust also benefits from the BoardPacks app, which allows papers to be viewed on an iPad from anywhere; provides annotation tools for making notes; reduces the amount of paper carried to meetings; and makes it is easy to open other documents in meetings if questions are asked, such as the Trust Deed and Rules. Karen Parry, Head of Policy and Compliance confirms, “The BoardPacks app is easy to use, it is easy to download papers and is useful to have access to past papers if queries are raised at meetings”
Implementing BoardPacks has resulted in improved efficiency for the Trust board; reduced costs in paperwork and staff time spent on emails, locating and scanning documents, and printing large board packs. The Trust has found it particularly useful to be able to view information stored within BoardPacks via an iPad, when questions come up in papers during a meeting.