Comments from partners and customers

Ashley Sanders Pension Adviser, Texaco Overseas Tankship Seagoing Personnel & Widows Pension Plan
“The transition over to Paternoster could not have been better.  The payroll was set up without any delay, communication to scheme members was spot on and the dedicated Paternoster resource managing the process was excellent.”  (July 2007)  

Roger Lawson Trustee, Chartered Accountants; Employees Superannuation Scheme
“Our primary concern has been to ensure long term security for our scheme members and we agreed that transferring to an insurance company was the best way to manage this. Paternoster impressed us at every stage of the process.”  (December 2006)

Vivien Cockerill, Partner, Wragge & Co LLP
“We are delighted to have been involved in advising the Trustee on the terms of the contract with Paternoster. The new approach that Paternoster is bringing to securing benefits is really helpful to trustees of schemes winding-up.”  (December 2006)

Michael Connole, Group Finance Director of Chrysalis (at the time of the transfer)
“We are delighted to have been able to complete a process which our shareholders, employees and pensioners will benefit from. Price was always an important factor but the key was the selection of an organisation that could tailor their offering to meet our objectives, rather than force us through a standard process.”  (February 2008) 

Nigel Hacking, Partner at Barnett Waddingham
“As advisers to the trustees, we managed a rigorous process for evaluating the scheme’s options for mitigating risk through a buyout, including a thorough review of all the insurers. Paternoster’s ability to understand, respond to and meet the trustees’ aims and requirements put them clearly ahead of their competitors.”  (February 2008) 

John Wedgwood, Trustee of the Lasmo Pension Plan
“The security of our Plan members’ pension benefits is our prime responsibility. The advantages of transferring to Paternoster are that members’ benefits are unchanged and are protected by the solvency capital of a regulated insurance company, thus ensuring that members are placed in a better position with regard to the security of their benefits.”  (December 2007) 

Ian Griffiths, Group Finance Director, Emap plc
“Throughout this competitive process, Emap had two clear objectives for this transaction – our desire to secure EERPP and SRH Scheme members’ benefits in full and secondly, to remove all pension risk for Emap’s shareholders. We are pleased that these objectives have both been achieved through Paternoster’s innovative and flexible approach. Paternoster is a leading regulated insurance company, and affected scheme members can be confident that their full benefit entitlements are guaranteed.”  (November 2007)