Atkin trustees, actuaries, consultants & administrators

Atkin & Co release fee estimator to help schemes evaluate their current fee arrangements

In 2011 we carried out a fee survey, the results of which can be found below, on the actual fees paid by real schemes. This found that some schemes were paying more than three times others which would seem to be much more than could be explained solely by the differences in the complexity of the actual schemes. Whilst we did not have sufficient responses for the results to be significant, this is consistent with our own experience.

For these smaller schemes, it may be difficult to justify the cost of engaging an independent expert to carrying out a full re-tendering exercise. We have, therefore, designed a simple fee tool which allows them to get a very approximate indication of what we would charge for providing the full range of pension services based on the scheme membership numbers and the desired number of Trustee meetings. This is aimed at small and medium sized schemes (with liabilities of less than c £275m).

To keep it simple, we have made a number of simplifying assumptions however we are more than happy to provide a full quote based on each scheme’s individual circumstances.

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With our previous advisors we very rarely went to them for consultation advice, as we had little faith in them. We tended to use solicitors, and to that extent the cost to the Company has been significantly reduced, and we are very happy with Atkin & Co’s approach and guidance here. We are all more than happy with our move to Atkin & Co.

Paul, Administration and Actuarial client