Actuary warns of gap in pensions market

The market for pensions advice for small to medium sized enterprises is not being adequately filled, according to study by a firm who offer actuary services.

The actuarial experts have claimed that pensions advisers are not filling the market.

Traditional pensions consultancies are concentrating on big clients, ignoring the small to medium size enterprise market, who badly need advice.

Companies which have final salary schemes managed by insurance companies are finding that very often the insured service is simply about compliance and there is very little in the way of pro-activity at a time when small to medium size enterprises are facing escalating costs and liabilities within their pension schemes and need concentrated advice.

A spokesman fdor one pensions company said dealing with SME’s is often not a profitable exercise and that it can be difficult to make money from smaller businesses’ schemes if you do not get the charging structure right.

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