The transparency of a pension scheme election is crucial to its credibility. Confidence in the process is fundamental to its success, especially as MNT pension scheme elections and governance remain a leading topic within the industry. For this reason pension schemes must ensure that MNT pension scheme elections are transparent, secure and open to all eligible members.
UK Engage takes a quick look at three ways to ensure MNT elections are easily accessible to all members.
Communicate extensively to all members:
In order to allow your members to participate in the decision making process, your election should have a pre-election engagement strategy. For members to be fully involved in the process they first have to know about it. By informing members of the election early you are able react to any questions and queries your members may have before the nomination period. Clear communication of what is required to (a) become a nominee for election to the board and (b) how to vote in the election, will make the process relatively straightforward. Consider using different channels to get your election-related messages out to you members. The most common channels are letters and information packs, emails and websites.
Explain the role and duties:
The role of a Member-Nominated Trustee is one which requires skill, experience and knowledge. Explaining what the role entails will allow members to acknowledge whether the role is right for them. Having a two-way method of communication (with the pension scheme or your election services provider), will allow candidates to access information, from which they can make an informed decision as to stand as a candidate or not. Allowing candidates to have supporters or referees will add credibility to candidate nominations.
Make it easy for members to vote:
Making ballots more accessible is a key sign that a pension scheme is putting its members first and encouraging member participation. Making voting easy will have a positive impact on your voter turnout. Whether the voting method you opt for is online (via an e-voting platform), postal, or both, the systems you have in place must make the act of casting a vote easy to do. Providing unique voting credentials, voting instructions and FAQs will help members to cast their vote with ease.