Redress Calculations

Broadstone simplifies the complexities of the redress calculation process – providing both data gathering and expert actuarial support, alongside regulatory compliant calculations and reports.

Redress_hero

Over 30 Years of Redress Expertise

The Broadstone redress team brings over 30 years of actuarial and regulatory expertise from both the life insurance and pension industries, combining accuracy with proven delivery.

We can ensure your specific requirements are met, whether individual or bulk calculations, direct complaints or those referred to the Financial Ombudsman Service (FOS), including but not limited to:

  • Defined benefit pension transfer complaints
  • Defined benefit pension opt-out/non-joiner complaints
  • Defined contribution complaints
  • FSAVC complaints
  • Pensions Review and FSAVC Review remedial work
  • Investment loss calculations
  • Review and audit of redress calculations
  • Other personal pension advice or FOS adjudicated complaints
  • Endowment mortgage complaints

Section 166 Exercises and Redress Remediation Projects

Broadstone can support the complete redress process in addition to redress calculations, from data gathering through to offer letters. Such exercises and projects demand anticipation of likely outcomes, management of client expectations, adapting for scale, ensuring regulatory compliance and timely completion.

Portfolio Risk Assessment and Regulatory Change

Identifying and quantifying risk within a policy portfolio is important for:

  • Acquisitions and sales of books of business
  • Assessing underlying risk for private indemnity insurance purposes
  • Governance requirements for meeting future obligations of the Financial Conduct Authority’s (FCA) “the polluter pays” regulations and any other future regulatory change

Our team can assist in quantifying the redress risk for a portfolio of defined benefit transfers plans using its Sunrise solution offering.

We can also provide qualitative commentary on the nature of cases in a portfolio and monitor future regulatory changes to inform on how they may impact on current and prospective clients.

Redress Services

Icon

Individual Redress Calculations

Resolve upheld complaints accurately and efficiently whether direct or FOS adjudicated.
Icon

Bulk Redress Calculations

Ability to scale up for multiple or large case reviews with consistency and timely completion.
Icon

Section 166 (S166) Exercises

Expertise and experience to manage Section 166 exercises with confidence and clarity.
Icon

Remediation Projects

Assist in completion of internal remediation projects.

Icon

Portfolio Risk Assessment

Gain clear insight into portfolio of defined benefit transfers and other policies to manage risk and support regulatory needs.

Who We Work With

Icon

Independent Financial Advisers and Wealth Managers

Icon

Personal Pension Providers

Icon

Private Indemnity Insurers

Icon

Compliance Consultancies

Law Firms and Solicitors

The Broadstone redress team have been at the forefront of redress for over 30 years helping a huge range of financial institutions in their redress needs, including major banks and insurers.

From the outset, actuaries have been at the heart of the team and all calculations adhere to actuarial standards. Redress calculations, of any type, can not only be complex, but require judgement when data is sparse or missing.

Actuaries are trained to deal with these issues – expert mathematical skills allied with the use of pragmatic judgement to fill in gaps in data. The FCA and FOS recognise the importance of actuaries in redress and using an actuarial firm with a track record such as ours will help give the FCA and FOS confidence that you have completed your redress requirements rigorously.”

Brian Nimmo

Head of Redress

Recent Expert Insights and Resources

Screenshot 2025-03-05 at 11.20.10

AI in Credit Risk

Download our AI in Credit Risk brochure for an overview of the analytics and governance we offer banks, building societies, lenders, and investors.

Credit-Risk-brochure

Credit Risk & Lending Analytics

Download our credit risk and analytics brochure for an overview of the services we provide to banks, building societies, lenders and investors.

financial-modelling-business-planning

Financial Modelling & Business Planning

Download our financial modelling and business planning brochure to find out how Broadstone’s extensive experience supporting lenders and investors with financial model reviews and builds.

Supporting Motor Finance Redress

We help lenders prepare for and deliver motor finance redress programmes with data-driven accuracy and scale. Our expertise ensures you stay compliant, reduce operational risk, and deliver fair outcomes for customers.

Redress Success Stories

S166 Redress Support

Discover how Broadstone supported a compliance consultant across 9 months to deliver over 400 redress calculations on time and to budget.

M&A Support

Learn more about Broadstone’s ability to provide actuarial assessments of DB redress liabilities, optional qualitative overlay and actuarial reports compliant with professional standards.

Loan Interest Redress

Discover how Broadstone supported a loan provider rectify miscalculated interest due whilst providing quality assurance on the go and ensuring the FCA were comfortable that appropriate redress was calculated and paid.

Expert Witness

Learn how Broadstone provided expert witness support to an IFA firm in litigation over pension redress liabilities.

Appendix 4
Added Years
Charges Only

Speak directly to our specialists to find out how we can support your business.