Covenant

• Funding position screen showing technical provisions, assets, funding level and shortfall from the valuation, alongside employer covenant grade and guarantee details
• Schedule of Contributions and recovery plan tracking deficit repair contributions year by year with expense allowance and payment status
• Investment strategy register setting strategic asset allocation against actual allocation, hedging ratios and manager mandates with benchmarks and fees
• Membership movements register recording actives, deferreds, pensioners, dependants, joiners, retirements, transfers and deaths with data quality score
• Risk register grading each risk gross and net with owner, mitigation and review date
• Board record covering member and employer trustees, terms of office, meeting attendance, committees and Trustee Knowledge and Understanding training log
• Discretions casework for ill-health early retirements, death-benefit nominations and transfer-value quotations
• Compliance calendar holding Chair's Statement, Scheme Return, Summary Funding Statement, audited accounts, GMP equalisation and dashboard connection against statutory deadlines, plus disputes and complaints log
• Member portal with benefit statement, transfer-value quotation and retirement illustration

The opening screen presents the funding position struck at the last triennial actuarial valuation: technical provisions against assets, a funding level and shortfall derived directly from the valuation, alongside the sponsoring employer's covenant grade, the fixed and floating charge behind it, and the parent-company guarantee capping the Schedule of Contributions. This screen anchors the trustee board's entire governance view.

Trustee boards and their secretariats managing defined-benefit occupational pension schemes.