If you’re an IFA, a wealth manager or a compliance consultant, First Actuarial can lift the uncertainties and complex actuarial calculations away from you.
Our Defined Benefit redress experts can draw on specialist knowledge and experience to:
- Help you understand the complex requirements of the FCA’s redress guidance
- Calculate redress, applying the requirements of either FG17/9 or PS22/13
- Quantify the potential redress associated with a book of Defined Benefit transfer advice. You may need this in the run-up to a business sale, for example, or to establish reserves ahead of a past business review
- Support strategic decision-making and risk assessment in relation to pension transfer advice.
We can carry out redress calculations for individual cases, following a ruling from the Financial Ombudsman Service (FOS). We can also assist with the redress aspects of past business reviews, including s166 skilled person reviews.
We prepare our calculations using models that comply with the relevant actuarial standards. Those calculations are signed off by a qualified actuary.
Our reporting format includes a calculation summary, which can be shared with complainants.
For larger projects, we can work with you to develop bespoke calculation output.