Our History

cprm is a relatively new company, having been formed in September 2004. Whilst having pride in the new approach this allows us to take, we have a wealth of experience behind us. Having combined the energy of the fast growing Hazell Carr actuarial consulting business in Edinburgh with a proven pensions heritage of individuals that came from the Cavanagh Group (formerly Ernst & Young Financial Management) throughout the UK, we have brought a new team together to give a synergy of backgrounds with a new perspective.

We support a strong existing client base, but continue to approach our market avoiding out of date business models. With this ethos, we can deliver the client focused innovative advice that can only be offered by a business which has no embedded high-cost organisational structure. By focusing on keeping our own non-value-added costs down, we ensure a low overhead operation offering excellent value.

In a time of significant change in fundamental pensions practice and legislation it is imperative that Trustees and Employers are supported by advisers that really understand the issues in our target SME market.

Flexibility and Reliability

We work with our clients and their advisers to determine what is best for them. We believe this is key to customer satisfaction – we do not try to shoehorn our clients into the services we want to offer, but seek to identify the real services required. Having agreed on a service level we will stick to it and within that service level maintain accuracy and quality.

In tailoring our service to meet our clients requirements, specific areas of concern can be addressed directly through concerted and agreed strategies.

Quality and Value

We are committed to achieving value for money through using well-paid, high quality people. With efficient processes, we deliver work quickly and accurately. We aim to respond to our clients' needs in the most efficient way possible, working to build up the right relationships with the right people on both sides.

Competitiveness

Our fees are highly competitive. We commonly operate on the basis of either fixed fees or transaction based fees. Our approach is always based around clients’ needs, with agreed service standards. With this approach, our clients know what to expect, when to expect it and how much it will cost. We can of course operate on a time spent basis, if required, as is the norm for our industry.

Integrated Approach

The administration and actuarial work for pension schemes is clearly intertwined. It is in this area where we stand out from the pack, in that our staff are involved in the full spectrum of actuarial and administration work, where possible and appropriate. Whilst some companies might baulk at the prospect of using actuarially trained staff for the seemingly menial task of administration, we believe it makes sense, since:

• Administration is not menial, it can be complex and difficult and it is absolutely vital that it is done correctly.
• There are efficiency gains to be made when staff who are familiar with a scheme through their administrative work are requested to perform an actuarial function.
• We believe it enhances our staff’s understanding of pension schemes and gives them a better appreciation of the work they are doing.
• It gives staff a sense of client ownership and commitment rather than the traditional narrow functionally based perspective.
• The net result is a pooling of expertise and experience. In this way all staff are aware of practical and creative solutions applied to clients, ensuring these are then applied to the advantage of all other clients.

Values and Culture

 Underlying everything we do is a commitment to operate in a consistent and fair way. We wish to be seen to act at all times with integrity, offering value and quality to our clients. We seek to employ people who are proud to provide value and quality.

Systems

We recognise that our services can only be provided effectively and within budget by ensuring we use flexible and robust computer systems. cprm has invested time and resources through the purchase of the Penserver administration system and the SuperVal actuarial valuation system to this end. Both of these systems are highly respected and regarded as market leaders within the pensions industry, especially for schemes in our target market.

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