Trusteeship

Pension schemes

We have extensive experience of acting as Independent trustees for both Small Self Administered Schemes (SSAS) and other pension schemes.

We work with Receivers and Corporate recovery specialists to deal with the pension aspects of schemes that may need to be wound up.

With the widening gap between the responsibilities of the Company directors (who have traditionally acted as scheme trustees) and the Trustees responsibilities, particularly in final salary schemes many employers are considering appointing Independent Trustees.

We provide Trustees with experience and pension qualifications at competitive rates. We can also use our knowledge to ensure you get the best and most cost effective additional services e.g. Legal, Actuarial, Administration etc.

Trust Annuity Service

Central Financial Planning Limited - Trustee Annuity Service.
Trustees have an obligation to assist their members to maximise their income in retirement. With the annuity market being large and increasingly complex with variations like underwritten and investment linked being the most suitable option for some members.

The only practical way for Trustees to meet their obligations and get appropriate advice for members is to partner with an Independent Financial Adviser.

Our annuity service

For schemes that partner with ourselves the service they receive will operate as follows;

The scheme administrator will advise us of basic member information as they approach retirement, either by email, fax or letter.

We then use our online research tools to obtain initial basic quotations. We write to the member within 5 working days giving these initial figures, a report covering all other options and enclosing a questionnaire so we can offer specific recommendations.

On receipt of the questionnaire we either complete the annuity recommendation by further refined research, and issue of member specific quotation and paperwork, or contact the member for more in depth discussion.

We will ensure all documentation is processed within 3 working days to ensure prompt payment of benefits.

Charges

We can operate on a pure fee basis or use the commission paid by the insurers to offset the fees. Our fee structure is as follows;

Non-commission

Initial one fee for setting up service £350
Each standard annuity £300
Each underwritten annuity £350

Commission offset

Each annuity £150

Income Drawdown/Phased retirement

We are experts in this area and it will sometimes be appropriate for a client to use one of these options. We will agree with you at outset whether the scheme will make a contribution to the cost of the initial advice or whether this should be borne solely by the member.