The Role of the Funeral Planning Authority.
The Funeral Planning Authority regulates providers of pre-paid funeral arrangements. It also provides an independent complaints mechanism in the event of disputes, for the protection of consumers.
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The Funeral Planning Authority’s role goes somewhat further than the basic regulation and aims to ensure that.
- Registered Providers regulated by the Funeral Planning Authority maintain high standards of professional conduct.
- The money paid by customers to Registered Providers for a funeral is safeguarded. Therefore when the time comes, their funeral is provided in accordance with that plan.
- Registered Providers co-operate in the delivery of the Funeral Planing Authority’s Pledge to Customers.
The Funeral Planning Authority does this by.
- Checking that Registered Providers are fit and proper persons.
- Monitoring members via a totally independent Compliance Committee, Registered Providers’ compliance with the exclusion criteria in the Regulated Activities Order and also with the Funeral Planning Authority’s Rules.
- Setting standards of professional conduct for Registered Providers, their staff, agents and representatives. See code of conduct.
- Ensuring either.
- That funds are protected by being held in trust, are regularly audited, regularly reviewed by an actuary. Are only invested by independent fund managers authorised under the Financial Services & Markets Act 2000. OR
- That funds are applied towards a contract of whole life insurance on the life of the customer.
- Providing arrangements for resolving disputes between Registered Providers and their customers.
- Pledge to Customers. In the unlikely event of a Registered Provider becomes insolvent. The other Registered Providers will work together to examine ways in which the Funeral Planning Authority might assist customers of the insolvent Registered Provider.
The Funeral Planning Authority – Resolving Complaints.
By its Rules, the Funeral Planning Authority has introduced a dispute resolution service. It is there to resolve any complaint or dispute which arises between a Registered Provider and a customer, another Registered Provider or a third party. Further information is provided in the Complaints section.
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