September 2015
Secure & Reliable Funeral Plans Securing Funeral Plans since 1995
A secure and reliable way to provide for future funeral costs For over twenty years, Funeral Planning Services Limited has provided prepayment plans in association with local independent Funeral Directors throughout the UK. All funeral plan payments administered by Funeral Planning Services are paid into Funeral Planning Trust and the accounts of the trust are audited by independent auditors and valued by independent actuaries. These safeguards comply with the Financial Services and Markets Act 2000, which came into effect on 1st January 2002. Funeral Planning Services is registered with the Funeral Planning Authority.
Q
How safe is my funeral plan?
Q
What if the Funeral Director were to go bankrupt?
A funeral plan is not an investment product but a secure way of paying for the funeral in advance. Each purchaser receives a guarantee that the services itemised in the plan will be provided when required by the participating Funeral Director and the Funeral Director is guaranteed payment for his or her work. Even during the last few years of economic uncertainty, the assets of Funeral Planning Trust have continued to grow and are more than sufficient to cover all outstanding liabilities, even if all the funerals were needed immediately or if all the plans were cancelled.
The Funeral Director is not paid until the funeral has been provided. If a Funeral Director should cease to trade before the funeral is required another Funeral Director would be appointed. It is very unusual for a funeral business to close but we are legally required to provide for this possibility.
Q
What if Funeral Planning Services Ltd were to go bankrupt?
Q
Where is the money invested?
Q
How is the current financial situation affecting the purchase of funeral plans?
Funds to pay for future funerals are held in Funeral Planning Trust, which is a separate legal entity from the company, with independent managing trustees. This has been the case since the trust was established in 1995 and it is now a legal requirement. Funeral Planning Services Limited is a well-established and well-funded British company with adequate reserves but, in the unlikely event that it should cease to trade, payments for funerals would be made direct from the trust to the Funeral Directors.
The Trust is conservatively managed with a range of investments selected to increase the funds available to pay for funerals in the future. A small proportion of the fund is held in cash in UK bank accounts prior to being used to pay current expenses or invested for the longer term. Please refer to the chart on the back page for a breakdown of trust assets by type.
Funeral prepayment is now more popular than ever – for example the number of people purchasing plans from Funeral Planning Services Limited in 2014 was more than double the number who purchased a plan in 2008. Our experience over twenty years has confirmed that, in uncertain times, people want to ensure that essential expenses will be met.
Safe • Secure • Guaranteed
Funeral Planning Trust assets on 31-03-2015 55.8%
Corporate Bonds
23.6%
Gilts
20.6%
Equities & Others
Currently the assets of the Trust exceed ÂŁ158 million The financial year of the trust ends on 31st March and the audited accounts are published annually in September.
For those who wish to arrange and pay for a funeral in advance... A plan backed by Funeral Planning Services Limited and Funeral Planning Trust is a secure and reliable way to do so. Further information about Funeral Planning Trust is available on our website:
www.funeralplanningtrust.co.uk
Published by Funeral Planning Services Limited, September 2015 Funeral Planning Services Limited, Flint House, Ipswich Road Long Stratton, Norwich NR15 2TA Telephone 01508 532 632