Jardine Lloyd unveils fixed-cost consulting
UK - Jardine Lloyd Thompson has launched a new service offering pension consulting for defined benefit schemes at a fixed cost of around 10,000 pounds (14,400 euros) for a typical 500-member scheme.
It said Optimum encompasses "core" consulting elements of administration, consulting, actuarial and investment.
Consulting, actuarial and investment would cost around 10,000 pounds based on a 500-member scheme, according to the service's brochure. Administration at 21,690 pounds would take the total price to 31,690 pounds. Costs are dependent on scheme size and other factors, a spokeswoman said.
"Many clients can't afford to be spending a lot of money on expensive consulting services to help them run an already high costs defined benefit (DB) scheme, which may be closed to new members," said regional managing director Paul Clark.
"The Optimum service offers clients the opportunity to receive the core consulting services they require to ensure a compliant scheme that is run in an efficient way.
"At JLT we recognise that schemes require a more flexible approach where products and services can be tailored to clients needs in a cost effective way. This is a risk-managed service, as the name implies an optimum service to suit the client's needs."
Clients will be able to choose from a simple defined-benefits compliance service to a broad package of employee benefit provisions, JLT says.