One To One Deferred Member Consultations

One to One Defined Contribution (DC) Deferred Member Consultations

Deferred members receive poor quality of service from their employee benefits firm yet the employer continues to incur fees in relation to maintaining their DC scheme membership.

The lack of regular communication with former employees creates the potential for lost contacts. Lost contacts clearly create difficulties for trustees when it comes to paying benefits as to members. However, lost contacts also raise compliance concerns regarding the trustee’s responsibility to maintain proper membership records (section 59 of the Pensions Act).

We have partnered with a leading life assurance company in Ireland to offer you a service that will assist in addressing these issues. This unique service also ensures that deferred members fully understand the benefits or otherwise of the statutory options that are available to them in the context of their own financial situation and retirement planning goals.

The outcome for employers/trustees from our innovative deferred member service is;
  • Upfront elimination of all administration fees associated with your
    former employees
  • Management of lost contacts and ongoing maintenance of deferred
    member records
  • One to one consultations for your deferred and future leavers
  • Annual benefits statements and regular fund updates for deferred
  • No effect on the relationship with current employee benefits firm
  • No cost service for trustees, employer and former employee