Page 2 - Saffron building society Case Study
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                 Member records
“First Actuarial maintains a secure member database,” says Helena. “And they continually monitor the data to keep it up to date.”
First Actuarial runs a cost-effective service that traces ‘gone aways’ – members who cannot be contacted at the address held.
Communicating with members
As soon as First Actuarial became administrators of the Scheme, they took responsibility for communicating with the members directly, rather than using Saffron as an intermediary. This saves the Society a significant amount of work.
“No sooner do you find one member’s address than someone else moves without notifying us,” says Helena. “But we can see from their reports that they’re keeping the gone aways down to a minimum. We’re really pleased with that.”
“First Actuarial sends a report directly to all members every year,” says Helena. “It’s like a newsletter, and it gives an update on the Scheme’s investments. It’s very accessible for members. So that’s another good thing they do.”
First Actuarial’s administration team is very responsive.
I know they’ll get back to me on the same day or the following one. This is particularly important when a member needs information. They’re well organised and supportive to me in my role as secretary to the trustees. I came into this demanding role with no pensions experience, and First Actuarial have been on hand with help and advice. The administration team is always there for me, and we get great value for money
Helena Manley, Society Secretary, Saffron Building Society
I find First Actuarial incredibly professional and knowledgeable, and very strong on customer service.
I always felt that their actuaries had a good handle on the administration side as well.
Sara Andrews, former HR Manager, Saffron Building SocietySociety
 The Happy Scheme, outcome happy members
Happy Scheme members
“I get a number of calls from Scheme members every year, and none have ever criticised First Actuarial,” says Helena. “And members never query the reports First Actuarial sends out.”
Sara agrees. “I had feedback from one past member who had taken early retirement,” she says. “He called me to say what
a wonderful decision we made in appointing First Actuarial. He’d spoken with a member of their administration team, and he’d been really impressed.”
More efficient administration services
By centralising member communications and making all member records available electronically in one place, First Actuarial administrators have made it much easier to run the Scheme efficiently. And by communicating directly with the members, First Actuarial adds to the efficiency gains.
First Actuarial provides actuarial services and advises on investment strategy as well as administering the Scheme. The Society benefits further from a joined-up approach, as administrators work side by side with other functions. “It feels seamless, and we appreciate that,” says Helena.
A trusted partner to help administer the Scheme
Both Helena and Sara see First Actuarial as a trusted partner. “We have every confidence in them,” says Helena.
“They do everything when they say they’ll do it,” says Sara. “That doesn’t often happen in any organisation these days.
They stand out as being exemplary in their field, because they’re so knowledgeable and professional in their manner. I never have any doubts about them.”
 Regulated in the UK by the Institute and Faculty of Actuaries in respect of a range of investment business activities. First Actuarial LLP is a limited liability partnership registered in England & Wales. Number OC348086.
Registered address: First Actuarial LLP, Mayesbrook House, Lawnswood Business Park, Leeds, LS16 6QY.
(03/2020)
   






































































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