We understand that you are effectively paying now for a future service that will occur but a service that you will not see. It is therefore incumbent upon Avalon to have in place appropriate safeguards with leading institutions to ensure your peace of mind.
First of all Avalon incorporates a specially designed Trust solely for the benefits of its members. All monies paid by members go directly to this Trust Fund separate from the company known as the ‘Avalon Funeral Trust’. We utilise advisors with the highest regard towards long term financial security as you would expect from a company that has been established since 1990.
The Custodian Trustee of the Trust is Capita Trust Company Limited. Major banks hold members’ payments on behalf of the Custodian Trustee.
Unlike pension funds, which are legally required to be actuarially valued every 3 years, the Avalon Funeral Trust is required to be valued annually to ensure there are sufficient assets to ultimately meet the future payments to the Funeral Directors.
This important role is held by Rowanmoor Pensions, an independent firm of Actuaries and Consultants. The latest valuation at June 2011 revealed that the assets in the Trust Fund were more than sufficient.
Close Brothers Merchant Bank are utilised as Investment Managers to the scheme, their objective is to ensure that the funds of the Trust grow securely in line with the stated liabilities of future funeral costs.
UHY Hacker Young are the registered Auditors to the Trust Fund and Company.
