Since pre-paid funeral planning was introduced to the UK in 1984, Golden Leaves has been at the forefront of the industry. Golden Leaves funeral plans are founding members of the National Association for Pre-paid Funeral Plans (NAPFP) and The Funeral Planning Authority (FPA) which monitors the marketing, financial and service provisions of the plan providers that it regulates.
As of the 1st January 2002, funeral planning became a regulated activity by The Financial Services Authority (FSA) under the Financial Services and Markets Act (Regulated Activities) Order 2001.
The Golden Leaves Trust was established in 2001 to hold and safeguard all funds received from individuals who have purchased a Golden Leaves Funeral Plan. The Trust is subject to the Trustee Act 2000 and must comply with the rules of the Funeral Planning Authority (FPA). Furthermore, it must also comply with the Financial Services and Markets Act (Regulated Activities) Order 2001.
Golden Leaves Funeral Plan funds are held in the Trust by an independent board of trustees, who are required to ensure the adequacy of funds to cover the cost of the funerals. Our latest actuarial reports show there are sufficient funds to cover all funerals as and when they are required.
Should Golden Leaves cease to trade due to liquidation, insolvency or any other reason, the Golden Leaves Trust Fund is safe from creditors because the Trust is an entirely separate legal entity. In such a situation, the trustees will find an alternative provider to complete the administration of the plans. In the first instance the trustees will request that the Rowland Brothers group of funeral directors to administer all plans.
As a registered provider with the FPA, other registered FPA providers are required to assist in the administration of the funeral plans. See rule 11 in the FPA Code of Practice here.
The Trust is regulated in compliance with The Financial Services and Markets Act 2001, and is managed by a professional Board of Trustees who bring an extensive amount of experience and knowledge covering such areas as funeral directing, consumer protection, trading standards, competition policy and regulation.
The Trustees have appointed investment managers with a good track record and to provide a diversified investment approach. The funds are audited annually and subject to strict actuarial reporting to ensure that they remain solid, stable, and above all, completely secure.
Funds received by the Trust from the sale of the funeral plans are invested in accordance with the agreed investment strategy, which is regularly reviewed by the Trustees after consultation with its advisers. Details of the investment strategy are provided on this site here.
Costs are incurred by the Trust include fees paid to the trustees, investment managers and professional advisers. These costs are paid by Golden Leaves Ltd, they can only be transferred to the company after due consideration by the trustees on the solvency of the Trust.
