Corporate pensions - Final salary services
An end-to-end service with competitive charges and excellent service standards
Scottish Widows offers comprehensive actuarial and administration services for final salary pension schemes. Our dedicated, highly experienced team offer highly competitive charges and excellent service standards.
Find out more about:
Our service
Our charges
Member administration
Send an online query to our final salary services team
Request a quotation
More about our service
Highly competitive costs
- No hidden costs: our charges are up-front and transparent.
- Our standard package includes professional actuarial, documentation and administration services.
Individually tailored service
- Our aim is to work in partnership with you.
- You pick and choose the services you want.
- Our actuarial and administration services are available whether or not you invest in our funds.
Staff
- Your scheme will have a dedicated team of professionals to administer and provide professional actuarial and documentation services.
- We have invested heavily to support our staff with effective systems.
Awards and existing customer feedback
- We carry out regular customer surveys and act on what you tell us.
- We are happy to provide you with references from existing customers.
Sample charges for ongoing services
| Actives | Deferreds | Pensioners* | Cost p.a. | |
|---|---|---|---|---|
| Scheme A | 100 | 50 | 25 | £26,000 |
| Scheme B | 300 | 100 | 50 | £40,000 |
| Scheme C | 500 | 200 | 100 | £55,000 |
*Assuming pensions are paid directly from the fund
These examples represent the annual charges for our standard administration package for a typical final salary pension scheme.
Please note that our standard package covers:
- Professional actuarial and documentation services.
- Day-to-day member administration.
Member administration
This includes services which many of our competitors quote for separately, such as:
- Production of the triennial valuation
- Drafting of the Trustees’ annual report and accounts
- Operating the Trustees’ cash account
An end to end service
Scottish Widows can offer a complete end to end service from restructuring the final salary scheme to setting up a replacement arrangement and transferring members’ benefits, following their consent. If you set up the replacement arrangement with us we can offer:
- A competitive product range
- A streamlined electronic set-up process
- A dedicated installation team
- A choice of internal and external funds
- Improved Transfer Value Analysis System(TVAS) proposition and dedicated transfer team
We have systematic processes, reporting and monitoring procedures in place to manage the wind-up of your scheme.
We are more than happy to work in conjunction with other professionals employed during the wind-up process, such as Solicitors, Independent Trustees and Financial Advisers.
Ask for a Quotation
For an illustration of our services and specific charges, please complete the online quotation form.
