At Cheviot, we are committed to supporting employers through the auto enrolment process and enabling them to participate in a workplace pension which is easy to administer and understand.
The Trustee is made up of both employer and member representatives, advised by leading experts. Working together with the management team, the Trustee provides excellent pensions which are regularly reviewed to meet the needs of members. Employers who use Cheviot for workplace pensions can therefore be confident that they will comply with their obligations with Cheviot’s help. Cheviot is constantly looking to improve the design of the Cheviot pension.
Schemes are well administered with timely, accurate and comprehensive processes and records. The administration team is UK based and all administrative cases are dealt with on a five day turn around. Usually the same administrator deals with the member throughout. Communications can be via the web, by email, post or telephone. Our processes are rigorously reviewed by our auditors each year. The auditors will be producing a report for third parties on the controls they have tested.
The investment options are dynamically managed, being reviewed each month with the Trustee’s investment advisers, and more frequently if market conditions are difficult. The investment objective is not just about absolute returns but also about making the journey as smooth as possible, and avoiding sharp falls to encourage members to save more.
Through an established relationship with a leading firm of independent financial advisers Price Bailey LLP, we offer a fixed price transfer advice service. They also provide an annuity service so employers can be sure their employees receive advice at an important time in their life. Price Bailey LLP are authorised and regulated by the Financial Service Authority.
Cheviot offers a flexible income option at retirement. This allows members to defer buying an annuity but still receive an income direct from their pension fund. This is rarely available in trust based schemes. It allows members to leave their pension fund invested in return seeking options which are regularly monitored by the Trustee. Previously members would need to transfer to contract based schemes to access this flexibility with a significant minimum fund requirement. please click here for more information
Cheviot is a not for profit organisation and so all the charges are used to provide or improve the pension arrangements offered. Whilst not the cheapest, with Cheviot you get a lot more than just an investment vehicle. Charges are regularly reviewed and are competitive.
Cheviot’s trust structure allows employers to focus on their business, knowing their employees’ retirement savings are being well looked after.
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