LawDebenture

What we deliver : Expert pensions governance

In-house pension teams are increasingly stretched as pension regulation and complexity increase. Pegasus provides peace of mind that arrangements follow best practice, continue to be compliant, and have the right resources at busy times.

We provide independent pensions executive services, including outsourced pensions management, scheme secretarial and specialist support to projects, pension scheme trustees and corporates.

Our services are flexible. Whether an interim or permanent requirement, or on an ad-hoc basis the Pegasus team will seamlessly integrate with your team to deliver best-practice governance support and relieve your pensions pressure. 

Mark And Jane Pensions

Release your pensions pressure : Discover our services

Pegasus provides independent pensions executive services, including outsourced pensions management, scheme secretarial and specialist support to projects, pension scheme trustees and corporates.

View more details of our services below. 

We have found that an increasing problem for Penson Schemes that operate in-house teams is key person risk. Coupled with that, recruiting the right replacements can often be a long and arduous process. The alternative is to outsource the pensions management function and take advantage of a team of experts, leveraging best practice and strong adviser relationships.  

Bespoke is the norm - rather than a fixed way of working, we will adapt to your approach, style and preferences depending on the support required.

For more information, please contact  james.lavender@lawdeb.com or mandy.seal@lawdeb.com 

How we add value for our clients: 

  • Flexible project management run by experienced professionals who are solutions-focused and know how to overcome obstacles to deliver your goals. 
  • Working collaboratively whilst maintaining independence means we work with Scheme advisers as a team and ensure there is clear accountability. 
  • We build relationships at pace, based on mutual trust and seek all parties input into the project plan to ensure it is achievable. 
  • We draw on our collective experience and know what’s required to make the decision making process for the Trustee as streamlined as possible.  Our reporting complements this approach by being clear and concise.
  • We recognise the importance of an open and transparent relationship between the Trustee and Sponsor and actively support the Trustee to promote this. 

Some of our recent and current projects include:

  • GMPE project for £400m Scheme
  • Data cleanse and GMPE for £250m Scheme
  • Buy-in to buy-out and GMPE for £900m Scheme with multiple insurers
  • Post Buy-in data cleanse and move to buy-out for £1.5bn Scheme
  • Buy-in to buy-out and GMPE for £200m Scheme
  • Post buy-in Data cleanse (complete in 11 months) for £800m Scheme
  • Buy-in to Buy-out for £40m Scheme
  • Buy-in to buy-out for £3bn Scheme
  • DC Scheme transition to Master Trust for £2bn Scheme

For more information, please contact mark.williamson@lawdeb.com or louise.spurgeon@lawdeb.com   

Our approach to Scheme Secretarial roles:

Proactive and Strategic Governance - Pegasus emphasizes a forward-thinking, strategic approach to governance. The team supports trustees in focusing on long-term objectives by managing operational details, ensuring timely and accurate documentation, and facilitating effective decision-making. Their proactive planning includes agenda setting, risk reviews, and aligning governance with regulatory expectations like the General Code.

Experienced and Collaborative Team - Our team embrace a collaborative style as part of our everyday activities which ensures seamless integration with trustee boards and advisers. Pegasus also leverages insights from its broader Law Debenture network, enhancing the depth and breadth of expertise available to clients. Our team are from a diverse range of professional and personal backgrounds and we bring that diversity of thought into our strategy to continuously improve our service to clients. 

Independence and Accountability - Pegasus operates independently of other advisers and administrators, allowing us to provide objective oversight and challenge. This independence enhances accountability, ensuring that trustees receive value for money and that adviser performance is scrutinized effectively without conflicts of interest.

Commitment to quality and development - Pegasus maintains high service standards through structured SLAs, regular client feedback, and continuous professional development. The team engages in ongoing training, mentoring, and industry involvement, ensuring they remain at the forefront of best practices and regulatory developments.

For more information, please contact catherine.palarca@lawdeb.com or chris.hay@lawdeb.com

How we provide support – oversight role:

  • Monitoring agreed key performance indicators (KPIs) providing visibility on a range of quantitative and qualitative measures of performance (not just SLAs).
  • Providing real-time reporting through the maintenance of activity logs (including RAG status of projects / member case progress).
  • Chairing operational working group meetings with a standard agenda, which requires the administrator to present performance reports and update the trustee on issues.
  • Promoting close collaboration between the administrator and the trustees. This generates  trust, accountability, transparency and a better understanding of administration risk controls and process constraints. 

How we provide support – member cases:

  • Reducing the amount of time that trustees spend on cases, by  following up on missing or verifying unclear information
  • Educating providers and setting expectations as to how cases should be packaged up for trustee decisions, for example, have all matters been considered, is all relevant documentation available, has the matter been accurately summarised stating the decision required?

For further information, please contact mandy.seal@lawdeb.com or andy.peek@lawdeb.com 

We believe our approach promotes the following:

Enhanced Board functioning

  • Improves both operational and behavioural aspects of trustee boards
  • Encourages more open and honest discussions through independent facilitation.

Culture of Continuous improvement 

  • Promotes a mindset focused on ongoing best practices and self-evaluation

Strategic alignment

  • Helps trustees assess whether their current governance framework supports long-term strategic goals
  • Enhanced interaction with advisers and stakeholders
  • Encourages a more thoughtful evaluation of how advisers are used and how the board interacts with internal and external stakeholders

Flexible and interactive tools

  • We offer both live, interactive reviews using software and traditional questionnaire-based approaches
  • Interactive session provides real-time results during meetings for immediate insights 

Our Trustee effectiveness reviews are customised in collaboration with the Chair to address key strategic and governance areas. Our experienced team are well versed in delivering this exercise for you.  

To find out more, please contact helen.nguyen@lawdeb.com or
martina.vatrtova@lawdeb.com   

How we support you to make your system of governance effective (ESOG):

Governance simplification and strategic alignment

  • Holistic Governance Reviews - We help trustees assess whether their governance framework supports long-term strategic goals—not just regulatory compliance
  • Simplification & Rationalisation - We identify opportunities to streamline governance structures and policies, reducing complexity while enhancing effectiveness

Practical support for compliance

  • Effective System of Governance (ESOG) - We help establish and maintain a robust ESOG tailored to your scheme’s needs, adopting a proportionate approach
  • Policy Development & Audit - We review existing policies, identify gaps, and draft new ones—covering ESG, cyber security, remuneration, succession planning, and more

Training and resourcing

  • Training & Awareness - We deliver tailored training to help trustees understand the Code’s direction and implications
  • Resourcing Support - Our experienced professionals support governance assessments, policy development, and Own Risk Assessment delivery.

Related services

  • Trustee Effectiveness reviews - We provide an interactive review which promotes healthy discussion within a Trustee Board and allows everyone to have a voice
  • Adviser & service provider reviews - We apply a holistic, theme based review to all of your advisers which is undertaken through a simple questionnaire and the report provided draws out any areas for further investigation.

Our approach to helping Pension Schemes to establish and maintain a Risk Management function (RMF):

  • Set up structure - We help Trustees determine a risk management approach that works for them. Our approach is pragmatic and proportionate to size, scale and nature of scheme, focusing on the key risks. We evaluate internal and third-party cyber risk controls and help implement incident response plans
  • Review risks - We set up a regular cycle of risk reviews, utilising committee structures as well as the main Board to increase efficiency. Linking risks to the strategic business plan allows risks to be viewed in context. We review post meeting to consider if any decisions impact risk register
  • ORA drafting - Our approach to regularly reviewing risks in the right context means the main narrative of the ORA is already defined. Our use of Knowa (workflow governance system) makes risk management real time and will directly feed into drafting the ORA.

Please also refer to the related summaries of Trustee effectiveness reviews and service provider reviews, both of which are an integral part of our General Code service. 

For more information, please contact
helen.nguyen@lawdeb.com or nareser.osei@lawdeb.com 

We’ve set out our approach to adviser/service provider reviews below:

Periodic Service provider/adviser review

  • Competency based, proportionate and concise.  Focus is on how effective service is delivered
  • Based on thematic online questionnaire, ratings and comments provided with benchmark behaviours to guide reviewer
  • Summarised in report with visual comparisons and next steps for feedback

Focused service provider/adviser review

  • Sets out specific questions
  • Benchmarking against high-performing providers
  • Works as interview with provider and feedback/reporting to Trustee

RFP/market review

  • RFP process should be concise and frame questions which avoid generic responses
  • Understand the key qualities that the Trustee Board require in their adviser and ensure questions draw this out
  • Support in long/short list creation. Organising presentation and scorecards to help evaluation process

To find out more, please contact andy.peek@lawdeb.com or nareser.osei@lawdeb.com 

Scheme Secretarial - We are experienced in delivering effective and proportionate Scheme Secretarial services for all sizes of DC Schemes. along with hybrid arrangements. 

Governance + - We ensure Schemes are General Code compliant, balancing robustness with pragmatism.  Our VFM assessments give clarity and reassurance to Trustees and members alike.

Transition to Master Trusts - We have successfully provided project oversight for a number of trust-based schemes moving to Master Trust, which can be a complex operation.  

DC rectification management - We are keenly aware of the complexities involved in rectifying DC accounts and have helped a number of clients through their rectification journeys.

Member engagement - Engagement plays a vital role in providing good member outcomes and we are experienced in overseeing behavioural change driven through communication strategy.


For further information, please contact chris.hay@lawdeb.com 

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