Procedure for setting up Self-Administered Group Pensions

With a new Group Scheme we tend to carry out a couple of steps to understand the pension we are taking over or indeed planning to set up. Every scheme is different and it is at this stage of the process that we are required to devote our time and a degree of due diligence between both ourselves and yourselves as the customer. We like to meet the HR people and/or the Directors of the company in advance of taking over or establishing a new Group Scheme.

As Corporate Trustees we are fully independent and have a "duty of care" to represent the best interests of the scheme members but also have a responsibility to all parties related to the running of a successful group scheme. We like to meet the staff responsible for the implementation of a new group scheme on a "one to one" before the commencement. It is this personalised service that we like to think makes us here a little different to our competition. I urge you to consider our firm if you are rolling out a new group scheme for staff. We are a small firm with 12 staff and you will get to deal with the principles of our firm and we can guarantee that you will receive a cost effective personalised professional service at all times. Keep in mind that we at Signature Trustee Services are often also engaged to investigate existing group schemes for companies.

Usually companies will decides to give Signature Trustee Services the business following a series of meetings and possibly a presentation from us to the senior staff responsible for implementation of the new group scheme.  

We have outlined below a series of basic steps you need to take to get the ball rolling in relation to a new group scheme:

Step 1:

Complete a "Group Scheme Query Form" which can be downloaded under the heading "Signature Trustee Services Applications".

Step 2:

On receipt of the "Group Scheme Query Form" we will make contact with you and endeavour to arrange a meeting. We handle group schemes all over the island of Ireland and are available to arrange a mutually convenient time to meet on a one to one or to give a presentation on the benefits of our service to your company. 

Step 3:

Once the Group Scheme has been given the "go ahead" we will put together a "pension pack". In this pack a number of documents will need to be signed and reviewed by the company. The Trust Deed and Rules of the scheme are legal documents and need to be considered carefully between the employer and us the Trustee at this stage. Its these documents that form the basis of binding the new pension scheme and thus protecting its members benefits and also protecting the employer.

Step 4:

Following the completion of the various documents, we as the Trustee will apply to Revenue for Approval of the scheme. The Trustees and the Employer also at this stage are actively engaging and appointing other parties to the scheme. Parties also connected to the scheme are typically as follows:

- Member Trustees

- Employer

- Registered Administrator

- Investment Managers

- Auditors (If Applicable)

- Legal Firm (If Applicable)

Step 5:

Members can expect a series of documents in a pack on the successful establishment of their new "group scheme"

- Signature Information / Welcome Letter

- Letter of Announcement

- Data Form

- Nomination Form

- Letter of Engagement

- Terms of Business

- Members Booklets

- Benefit Statements

-Statements of Reasonable Projection

Every document pack we produce is specific to the scheme and is based on the information provided from the members and their employer