8. External Pensions Manager Service
Our external pensions manager service brings together the ‘best of breed’ experts in all the key areas required to run a final salary pension scheme.
Towergate Financial will act your pension manager and will engage with all the specialists required to run your pension scheme effectively:
- Accountancy and Audit Services
- Actuarial consultancy for tri-annual valuations
- Investment Advice
- Member communications
- Administration services
- Scheme legal advice
- Trustee training, insurance and record-keeping
- Consulting on changes to scheme benefits basis
We also work in partnership with providers to develop solutions for employers who are seeking strategies for "de-risking" their schemes, reducing their costs and ultimately removing the liabilities associated with the scheme.
Towergate Financial will provide bespoke solutions to address any identified issues and work closely with key providers in order to design and implement a comprehensive plan to ‘wind-up’ the scheme if appropriate.
For smaller schemes a ‘bundled’ solution may be appropriate where all services are placed with one provider. This can often significantly reduce running costs and simplify the way in which the scheme is managed.
We can help you to establish a Governance Committee to oversee the running of any pension schemes. This is a voluntary arrangement but one which is encouraged and supported by both the Financial Services Authority and The Pensions Regulator.
How will this benefit your company?
This service provides you with external assistance in running your pension schemes. Our aim is to make running the scheme cost effective and straight forward, freeing up your resources to manage your business.
How will this benefit your employees?
A cost effective, well run pension scheme will benefit all members by giving them the confidence that their retirement benefits are being regularly reviewed and properly managed.
A Governance Committee provides an opportunity for ordinary members of the pension scheme to become involved in the way it is managed and we would normally recommend that at least two scheme members be invited to sit on the committee to represent members’ interests.
Our service introduces the impartial expertise to the operation of your company's pension scheme.