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Friends&#39 pension guide to aid IFAs

Friends Provident is publishing a pensions guide aimed at advisers of

member-nominated occupational sch-emes trustees.

The guide provides pension scheme advisers with a checklist of

actions to help them guide employers and trustees through the

procedures for member-nominated trustees.

Friends says that because members of occupational pension schemes

were given the legal right to select some of the trustees to run

their pension scheme by the Pensions Act of 1995, it is essential

that these trustees get appropriate advice.

The guide highlights how failure to meet these requirements could

result in the imposition of high-level fines from Opra.

It also contains a number of specimen letters, announcements and

ballot papers that set out the information which must be provided to


Written from the perspective of a new scheme that has or will have

individual trust-ees, the guide is applicable to all types of

occupational pension schemes. It is equally applicable to schemes

where the trustee is a corporate body.

Head of pensions marketing Jeremy Ward says: “This guide is the

latest communication from Friends Provident to assist advisers active

in corporate pensions.

“Advisers should find the specimen announcements, letters and ballot

papers particularly helpful in dealing with the member-nominated

trus-tee requirements.”


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