Funeral Planning Trust was established in 1995. A copy of the deed establishing Funeral Planning Trust has been lodged with the Funeral Planning Authority. Funeral Planning Services is registered with the Funeral Planning Authority and complies with the Funeral Planning Authority Code of Practice for Prepaid Funerals. Funeral Planning Services is also a member of the National Association for Pre-paid Funeral Plans.

Custodian Trustee and Investment Manager

The custodian trustee of the assets comprised in Funeral Planning Trust is HSBC Trust Company (UK) Limited. The fund is invested by HSBC Investment Management Ltd.


Managing Trustees

There are currently five managing trustees: Colin Field and Nicholas Taylor who are directors of Funeral Planning Services and three independent trustees: David Adeney, Raymond Kenney and Paul Hollowell.


Beneficiaries

The beneficiaries of Funeral Planning Trust are Funeral Planning Services Limited and the participating funeral directors who guarantee to provide the funeral services for the customers when required. If the selected funeral director is unable to provide the funeral another funeral director is appointed.


Payment direct to the trust fund

Customer are asked to make all cheques and bank mandates payable to Funeral Planning Trust - this ensures that the funds are always under the control of the trustees and kept separate from the assets of both the funeral director and the funeral plan company.


Administration and marketing costs incurred by Funeral Planning Services

These can be reimbursed from the fund by the managing trustees providing the amount remaining in the trust fund for each funeral plan is equal to or greater than the amount currently payable to the funeral director for that funeral.


Withdrawals to pay for funerals

The Funeral Planning Trust deed requires safeguards to ensure that payments for funerals are only withdrawn from the fund after the customer has died and the funeral has been provided.


Treatment of surpluses or deficits

It is the role of the actuary and investment manager to ensure that the liabilities of the fund are fully covered and that sufficient reserves are maintained against future contingencies. In the event that the actuary declares a surplus in excess of the fund's liabilities the managing trustees can authorise some or all of this to be paid to Funeral Planning Services, who have an agreement to share any such surpluses with the participating funeral directors. In the unlikely event that the actuary declared a deficit, Funeral Planning Services would be obliged to repay previously withdrawn surpluses in order to make good the shortfall. The policy of retaining significant reserves within the fund, together with the policy limiting the payment of administration and marketing costs referred to above, are designed to avoid any deficit arising.


Funeral Planning Trust Statistics

The accounting date of Funeral Planning Trust and the date of the actuarial valuation is 31st March The following information is taken from the most recently available audited accounts.

Analysis  of investments by type