Managed Pension Scheme
Providing pension scheme benefits is becoming more time consuming and risky for companies. The era of final salary based schemes is drawing to a close, as most companies move over to schemes provided by insurance companies or specialist investment providers. Some companies continue to offer Occupational Pension Schemes, which can involve busy company Directors accepting the increasingly onerous responsibility of scheme trusteeship. Government response to the current UK pension crisis has been less than effective, and has placed further obligation and regulatory control on pension scheme trustees, sponsoring employers and pension providers, often adding additional complexity and expense to businesses aiming to offer generous pension arrangements for their staff.

Cullen Financial Planning’s experience in this area is that most trustees of Occupational Pension Schemes are too busy running their core business to spare the time and effort required to ensure that their pension scheme represents best value for staff and company alike. They do not have the knowledge or resources to provide any advice to scheme members.

Employee financial advice is a current matter for concern for the Government. Indeed most scheme members fail to understand their pension scheme, and therefore do not value an important part of their remuneration package. Such schemes are therefore not perceived as they should be, as a bonus by employees or their representatives. Instead they are seen as an obligation and even a cause of irritation as the benefit and value of schemes seem unclear. Cullen Financial Planning’s solution to this is our managed pension service.

Cullen Financial Planning will provide a no cost, completely independent situation assessment of your current pension provision. Using our managed pension service almost always reduces costs of pension scheme operation. We advise upon the best provider mix for your circumstances and then give individual personal advice to all scheme members reinforcing the benefit of company pension provision, and extend our advice to other personal financial planning issues. Review meetings are held annually.

We recognised that increased certainty and accountability are the aim of every business. Our commitment to managing your pension scheme is contracted for an agreed term and we will undertake to deliver against defined service level agreements. Our account management means regular reports and reviews to trustees, principal employer and scheme members.

If you want to reduce the risks, demonstrate best value, comply with increasing Government regulations and reduce your time invested in managing your pension scheme, so that you can focus on your core business, then please contact us online or call Richard Cullen on 0161 975 6700 now and arrange a meeting.