Atkin trustees, actuaries, consultants & administrators

Communication is more important than ETV advice

Atkin & Co, the pension scheme administrator and actuarial consultant, believes that the quality of communication to members may be more important than providing financial advice when offering Enhanced Transfer Values (ETVs).

Following the recent news in the pensions press (Pensions Week article on 30 January 2012: ETV code of conduct to push mandatory member advice) that employers could soon be obliged to fund the provision of an independent financial advice service for members being offered ETVs, Atkin & Co considers that this may not in itself be sufficient to assist members.

Marian Elliott, Director, commented: “Whilst the announcement that members should receive free financial advice is welcome, it is more important that members fully understand for themselves the benefits they are giving up and the risks of doing so. It is also vital for members’ perception of the transparency of an ETV exercise that it is made clear in communications that the advice provided is thoroughly independent, despite being funded by the
company. We also believe that it should be the duty of the trustees to assist in ensuring that clear information is provided to members.”

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We enjoy working with the team at Atkin Trustees. They are easy to get along with and their technical expertise, coupled with a pragmatic approach, allows us to advise our mutual clients in a manner beneficial to all. The team draws on this wealth of experience to ensure clients get a first class service, provided in an efficient manner. This added value is something other larger organisations would struggle to provide.

Gavin Paul, Pinsent Masons