如何建立有效的养老金委员会

The fallout from the 2008–’09 financial crisis — and the tepid economic recovery that followed — has put pension boards under full scrutiny as retirees, both present and future, demand to know the inner workings of their funds’ management. As the populationgrows lopsidedly older，养老金偿付能力已成为具有更大规律性的公众话语的一部分。如果基金在红色中运行，则是人性对手指点。Pundits和养老金领取者想知道董事会成员如何获得座位。

Pension board selection usually centers on getting representation across several groups. Even so, boards often fail to include an array of people who could help foster better management. For example, union representatives who may lack technical and investment savvy may get appointed to pension boards and potentially shut out a fund manager with an innovative portfolio strategy.

“What you get, typically, is a bunch of generally well-meaning people, but a lot of them really don’t have training in effective governance,” saysKeith Ambachtsheer, the director emeritus of the Rotman International Centre for Pension Management (ICPM) at the University of Toronto. When you contrast that with an ideal board that is knowledgeable and understands the role of governance, you realize that many of these people are “not well placed,” he adds.

对董事会的最大价值是集体技能体验，解释说ambachtsheer。获得第一手知识，无论是来自同伴或专家都是关键。Robert Astley，外出的椅子Canada Pension Plan Investment Board, says directors who join the CPPIB receive a full-day orientation with senior managers of the investment team to understand the history, dynamics and present strategy of the fund. Comparing the intensity of the CPPIB’s training program to “drinking from a fire hose,” Astley explains that when learning about the fund and getting up to speed on issues, there is an attempt to convey the idea that corrections can happen and markets can change quickly. Peter Gleason, managing director and CFO at the National Association of Corporate Directors (NACD), concurs. “The pace of education has increased dramatically, and I think that coincides with the environment we are operating in,” he says. “People know the environment is changing so fast, you have to have education to keep up with it.”

The NACD offers programs such as governance fellowships and certification for board members. The ICPM’s Board Effectiveness Program, for example, covers a variety of management topics, including investment beliefs and risk management. Rather than relying on the corporate seminar standard stand-and-deliver format, the ICPM programs allow board members to interact and share experiences that can help with future challenges.

Astley强调，雇主赞助的基金的委员会对CPPIB或其他永久性或政府计划的董事会有不同亚博篮球怎么下串的风险和责任问题。他还指出了动态在董事会有效性中发挥着重要作用，他认为它作为委托给主席的领导作用的责任：“努力提高[CPPIB] 12成员的合唱团体和凝聚力至关重要板。”并且努力永不停止，因为董事会成员退休和新动态呈现形状。

What happens when boards need to hire? Says Gleason: “There’s a lot more targeted search aimed at what we specifically need.” Whereas boards used to look for specific people such as CEOs or retired CEOs, he notes, today there is more of a push to get people with a certain set of skills, as well as a willingness among hiring teams to go across borders to find the right talent. For example, all board members of the CPPIB formerly had to be residents of Canada. Legislation is being altered to allow three of its board members to live outside the country. In terms of internal human resource functions, the CPPIB conducts regular annual evaluations of the chair and all of the directors. Directors’ evaluations are presented to the chair, and the chair’s evaluation is presented to the governance committee for coaching, should it be needed.

Overall, notes Ambachtsheer, a pension board is more effective when its personnel has a diversity of opinion, because such a group fosters debate — and a range of potential asset management strategies. “It is opposing ideas that create a greater understanding of how to deal with these problems that have ambiguity attached to them. So diversity is a good thing.”

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