Client feedback


I found the trustee training really beneficial, highly recommended. I am not a trustee, I represent the employer and I think it will be valuable for me in future, having a better understanding of the trustees' perspective.
Dave Strain,
Royal Yachting Association
Clare Owen has been a really excellent scheme secretary
​Their pragmatic approach helps with quick and easy decision making. Another approach might have made things more difficult.
Mark Assinder,
Bouygues
These days, Boards need real expertise on tap (with excellent back-up) to cope with a constantly evolving and more regulated environment. PSGS is geared to delivering that.
Ray Pygott,
Partner at KPMG LLP
In my experience, not all professional trustees are able to cope with tricky or potentially confrontational situations. I find PSGS has massive experience in getting involved, earning the respect of others and resolving such issues. They get stuck in – they are a first rate team.
Katherine Dandy,
Partner at Sackers & Partners
Many organisations and people provide the services that clients need. In my opinion, the differentiator is in the way those services are provided and to that extent, Kathy embodies the qualities that I have come to value from PSITL. Kathy is organised but not fussy; diligent but not dogmatic; persistent without being pushy and compliant in a pragmatic way. Whilst she takes ownership and drives issues forward, Kathy is a team player who uses her and her colleagues experience to provide services to her trustee client whilst working closely with those like me representing the sponsoring employer. She works collaboratively with advisers but constructively challenges the scope of services, fees and service standards whenever necessary and makes sure that member needs are always taken into account. I enjoy working with her and trust that she will deliver what is required by the trustee and the members they represent in a manner satisfactory to the sponsoring employer.
Stuart Barker,
Internal Pensions Consultant, RSPCA

A dreadful case of poor administration and a serious overpayment

I really can’t stress enough how critical it is to check your pension scheme’s administration records accurately reflect members’ benefits and circumstances - especially if you’re transitioning administration. I’ve been working on a case recently (well, it has lasted just under two years) where this most definitely hadn’t happened and it has been a real pain to resolve.

Just when you thought it was over…

The case was discovered as part of the Guaranteed Minimum Pension (GMP) reconciliation exercise (which had been closed but was then reopened by HMRC). We found a member’s benefits had been put into payment, but they’d actually previously transferred out. The overpayment was tens of thousands of pounds.

The pension trustees had agreed terms with the member for the repayment of the overpayment. Excellent. The member’s relative, on their behalf, then submitted a complaint to the Pensions Ombudsman, which was later withdrawn.

How did it all happen?

The crux of the error was the pension scheme’s administrator did not check the GMP at State Pension age and also ignored information from the member who told them they thought they had transferred out!

To cap it all, the member records were incorrect too. It became clear the procedures followed when the administration service was transitioned a few years earlier had been poor. Controls and processes were not followed by the pension administrator.

There are a few lessons to be learned from this example, not least correctly following procedures, checking everything and then checking it has been checked. This should happen whenever a member’s record is accessed for whatever reason.

Applying common sense is another. After all, if a member tells you they think they have transferred out…

 

 

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