Actuarial & redress calculations

We have the expertise needed for carrying out a wide range of complex actuarial and redress calculations. From large scale Regulator led business reviews to single calculations resulting from an investor complaint or a decision by the Financial Ombudsman Service, we can help take the work and pressure off your hands.

News & Insight: FCA publishes final guidance on pension redress methodology - 3 November 2017

OAC is accredited for its professional services under the Quality Assurance Scheme (QAS) from the Institute and Faculty of Actuaries (IFoA).

Redress calculations

In an area where the cost of remedial action and redress can be very high, OAC is very proud to have built up a trusted and reliable reputation for its quality of work, attention to detail and the ability to apply its extensive knowledge for the resolution of complex investment advice issues. Our team have worked consistently in this field and maintain expertise in understanding the complexities of the regulations along with the current thinking by the Financial Conduct Authority and Financial Ombudsman Service. We offer:

  • Vast experience in pension and investment redress calculations since 1994.
  • A bespoke service to all - from single calculations required as the result of an upheld complaint right up to large scale business review settlement projects.
  • Provision of technical and calculation support for S166 Skilled Person reviews.
  • Calculations which reflect current FCA and/or FOS guidance.
  • A stand alone loss assessment calculation service which encompasses all types of regulated investment products and includes a full data gathering service.

OAC has also developed its own calculations system which is available for external licence and includes a support and maintenance package.

Christine Rose-Williams

For more information
Christine Rose-Williams
Head of Redress Calculations

Past business review

OAC has extensive experience in conducting thorough reviews and proposing remedial actions for past business and sales activities. Our in-depth compliance services can also provide detailed assessments of past regulatory requirements. We offer:

  • General business reviews.
  • File audit and past adviser reviews.
  • Provision of technical and calculation support for S166 Skilled Person reviews.
  • Tailored, flexible service and bespoke solutions.
  • Review and calculation support services to all forms of business involved in the numerous regulatory driven reviews, such as Personal Pensions, FSAVC’s, Pension Switching, Endowments, as well as reviews driven by internal business risk assessments.
Christine Rose-Williams

For more information
Christine Rose-Williams
Head of Redress Calculations

Complaint investigations

Need help on something specific or looking to outsource an essential but costly business function?

Skilled complaint handlers at OAC assist firms with their processing, investigation and resolution of complaints. This can greatly assist firms where legacy business is no longer supported by adequate knowledge in-house, or to deal with an increase in the volume of complaints.

OAC is able to take on individual aspects of the management of investment complaints through to provision of a full complaint handling service:

  • Administration.
  • Investigations.
  • Loss and redress assessment.
  • Settlement.
  • Single complaint situations.
  • Management of all complaints arising from legacy or closed books of business.
  • OAC has its own complaint handling management system also available for external licence (includes support and maintenance). It is a complete case management system that enables the handling of complaints from start to finish, in a controlled yet versatile environment.
Christine Rose-Williams

For more information
Christine Rose-Williams
Head of Redress Calculations

Pension sharing on divorce

With many years of experience in all aspects and types of pension arrangements, our experts are ideally placed to provide expert actuarial support.

Even in amicable divorce proceedings, special consideration needs to be given to ensure a fair settlement involving pensions. In particular, cases involving:

  • Public sector employees.
  • Employees with special retirement terms for long service e.g. Police, Firefighters, and Armed Forces.
  • Members of defined benefit schemes with long service and scheme membership.
  • Couples with a large difference in age.
  • One of the parties being already retired.
  • A requirement to equalise income in retirement
  • An inequality of state pension entitlements.

Pensions may need to be partially or fully offset against other valuable assets such as the value of the former matrimonial home.

We offer a full information gathering, valuation and report service, tailored to each individual case, acting on either single or joint instructions. We can also produce reports to meet CPR35, if required for use in Court and, if necessary, we can appear in Court to give evidence.

Fees are case specific and depend upon the complexity involved. Normally structured on an hourly basis we will usually quote after an initial appraisal of the case for which there is no charge.

Roger Score

For more information
Roger Score
Consultant Actuary | Head of Expert Witness

Life interests & reversions

Trusts providing life interests and reversions can either arise through an intestacy or by direction in a will. They don’t always meet the requirements of either the life tenant or those with a reversionary interest. Provided all agree, the Trust can be broken and the assets distributed amongst the interested parties.

We are often called on to advise a fair split of value between the parties and have significant experience of these types of calculation.

Roger Score

For more information
Roger Score
Consultant Actuary | Head of Expert Witness