Hartsfield Trustee Services
"It's the little details that are vital. Little things make big things happen." John Wooden
problem with pensions

Problem with pensions

August 2, 2017 10:57 am Published by

The problem with pensions

We have all encountered the frustration of dealing with financial institutions and dealing with the endless layers of legislation and red tape.

Pension scheme providers, especially those dealing with regulated products, are subject to much legislation but there are some improvements that can be made…

I’ll just pass you across

Many providers use call centres, this means you end up having to explain what you want to numerous people in different departments which can become tedious and does not instil confidence that your question will be answered correctly. Often these providers will also have back-office staff who do not speak to you, the client.

We believe that having a named point of contact with a direct telephone line will give reassurance that quick, reliable and correct advice is given.

Computer says “no”

Rigid internal procedures and the involvement of multiple departments (see above) can often lead to standardised answers that are given without any explanation or reasoning.

The alternative is for providers to work with the client. We cannot guarantee that we won’t say no to things but we will give careful consideration to what our clients want to do and give alternatives wherever possible.

Hidden fees

Time-costed fees can often result in unexpected invoices. Our fees are clear and concise and where time costing is required we will advise you of the likely costs well in advance of work being done.

The personal touch

We can agree that the improvement in email and video calling are useful tools for businesses to keep in touch with clients but this can sometimes give the impression that the client is something of an inconvenience.

Here at Hartsfield, we welcome clients to come to our offices to discuss matters affecting their business or pension scheme. And we offer one complimentary trustee meeting per year, so we can keep in regular contact with our clients to understand their needs.

For further information on how Hartsfield Trustee Services can assist with the administration of your Pension Scheme, please get in touch with the team.

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This post was written by Paul Verwoert