Pensions Manager Services
Companies and the industries that they work in are continually changing environments. Turnover in personnel is increasing whether it be through growth movement or restructuring.
With all this change happening it is important that they remain up to date with all changes in pensions and employee benefit legislation and have a suitable point of contact for their employees.
However, companies may not be of a sufficient size to warrant the appointment of a pensions manager and there may not be the necessary expertise in either the finance or the HR departments. Companies are now available to provide this service for you, taking responsibility for ensuring that the relationships with the various service providers and consultants run effectively and that the scheme is run to the appropriate standard.
If you are considering appointing someone to provide this service it is very important that you understand the differences in the services being offered to ensure that you select the most appropriate one to satisfy your requirements.
As with any service, it is important that you monitor and review it on a regular basis.
My View
The role of Investment consultants can broadly be split into to areas - investment strategy and manager selection. In general manager selection naturally follows on from the strategy that is set by the trustees.
With detailed analysis of recommendations and subsequent monitoring of the strategy Trustees will a better chance of being sold unnecessarily complex and expensive investment solutions.