Who offers Synergy?

All assets within SYNERGY are held under trust for members by the scheme trustee, BWCI Pension Trustees Ltd. BWCI www.bwcigroup.com is a leading firm of consulting actuaries, based in Guernsey. BWCI Pension Trustees Ltd is a licensed fiduciary under the Regulation of Fiduciaries (Guernsey) Law 2000.

SYNERGY is administered by Boal & Co (Pensions) Ltd. Boal & Co www.boal.co.uk is a leading firm of consulting actuaries, based in the Isle of Man. Boal & Co (Pensions) Ltd is regulated as a Professional Schemes Administrator under the Isle of Man Retirement Benefits Schemes Act 2000.

Both BWCI and Boal & Co are members of Abelica Global www.abelicaglobal.com, a leading organisation of actuarial consultancy firms. Between them, BWCI and Boal & Co have over 50 years’ professional experience of designing, administering and running international pension schemes.

What are the costs of Synergy?

The charges for SYNERGY take the form of an initial fee, when you transfer into the scheme, and an annual fee for ongoing membership. Both fees are taken from your SYNERGY fund. The applicable fee scales are set out in the separate Fee Schedule. The combined fee scale includes the services of both the Trustee and the Scheme Administrator.

Investment management charges are agreed between you and your appointed financial adviser or investment manager, and are also paid for out of your SYNERGY fund.

Normal underlying charges, if any, associated with the investments in a member’s SYNERGY fund will apply in the usual way, subject to any discounts that are obtained. All such discounts will be used to enhance the member’s SYNERGY fund, and are not retained by the Trustee or the Scheme Administrator.

In some cases, a financial adviser may charge clients an initial transfer fee in lieu of commission from the underlying investments. In this case, the amount of the adviser’s transfer fee must be agreed by the financial adviser with you in writing.