 Final Salary Scheme Services
Prosperis acts as an independent adviser and consultant to the Trustees on legislative, investment and regulatory issues.
- The Prosperis service includes:
- Advising on scheme design
- Strategy to address any deficit
- Investment Strategy
- Management of cost base
- Support and advice to trustees and/or employer (if appropriate)
- Ensuring the introduction of robust administration systems
- Individual financial advice to members
Following a research process, Prosperis would select either a consulting actuary or a Product Provider (Insurer) to provide services complementary to Prosperis Trustee and Investment advice. The insurer partnership arrangement is commonly referred to as the "bundled" or "packaged" approach.
When selecting insurers as preferred partners, there are often certain cost saving advantages as they will usually administer the pension scheme and its funds within a fixed annual charge.
- Costs usually are fixed at a percentage of fund to include all services:
- Prosperis fees
- All actuarial services (including triennial valuation and certification)
- Fund management within a "wrapper"
- Administration
- All documentation
- Any member statements
- Annual costs review following initial installation period
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