TrustEase For Insolvency Practitioners

AFTS has launched a new service for IPs called TrustEase. TrustEase is an alternative to appointing an agent to assist the IP in the winding-up of an occupational pension scheme. Providing the Trust Deed and Rules allow the IP (acting on behalf of the employer) to appoint and remove trustees, AFTS can be appointed as sole independent trustee in place of the existing trustees.  This eliminates the IP’s involvement with the pension scheme within 2-3 months of the insolvency appointment and transfers all of the risk of acting as trustee to the professionals.

AFTS has teamed up with a firm of solicitors who will provide a Deed of Appointment and Removal to be signed by the IP and AFTS for each case referred.   A fixed fee will be quoted on the Pension Brief report covering the entire process of winding-up the scheme.  These fees will need to be met up front by the IP at the time the Deed is drawn up.

TrustEase is designed to speed up the process of winding up company pension schemes for IPs and reduce the overall costs and risks to the insolvency appointment.

The Pros and Cons of TrustEase