“Pension Consultant (or Group Savings Consultant)” is a job title you may have heard before, and it is a service that is offered at Belmont Health & Wealth. However, even if you have been a customer for years, pension consulting is a service you may not be completely familiar with. Many people think it’s something that can only help once you’re ready to retire, but the reality is that pension consulting is something that is beneficial for everyone, at any time.
A pension consultant provides advice and information on retirement provisions to other organizations and provides them with advice on the plan(s) that would be the best fit for their business when it comes to offering a pension or group savings program to their staff. A pension consultant can also work individually with employees or members, helping them define what their short- and long-term goals are, so they know which retirement planning option fits best with their goals and their lifestyle.
Pension consultants often work hand in hand with financial advisors or are financial advisors themselves. At the end of the day their objective is the same – to help ensure that you as a business or you as an employee have all the facts and advice you need to make a sound decision for your future.
Most pension consultants work with organizations of all sizes not just larger companies as some people tend to think. They work to stay up to date on the most current trends and information, and they can assist you for far more than just initially choosing a plan:
- review a client organization’s current pension provision for its staff members
- research the financial market for suitable products and investment funds
- recommend options for the client organization to choose from
- explain complex information to clients to make them aware of their options
- set up and run the pensions on behalf of the organization
- source appropriate investment funds and design a pension package to meet the needs of clients
- calculate and review the structure, value and performance of funds
- oversee the administration of pensions
- provide regular reports to pension managers and trustees
- keep clients regularly updated about their pensions and investment products
- attend meetings with fund managers, trustees and employee representatives, as well as with other professionals, such as accountants and actuaries
- oversee the production of regular statements to members
- help clients to develop strategies to promote the benefits of their pensions to members
- manage the relationship with clients to ensure they're happy
- keep up to date with developments in, and changes to, pensions legislation and industry regulations.
Belmont Health & Wealth is pleased to offer pension consulting as part of our list of services provided. For more information, and for a free initial consultation, please contact us today!