We provide expert administration and professional trustee services for Funded Unapproved Retirement Benefit Schemes (FURBS), supporting trustees with the governance and management of these legacy arrangements.

  • What is a FURBS?

    A FURBS is a trust-based arrangement designed for retirement saving and/or succession planning. They offer greater investment flexibility compared to registered pension schemes but fewer tax advantages.

    While new FURBS can no longer be established tax efficiently, many existing schemes remain in place and require careful ongoing management.

Experience You Can Trust

We have administered FURBS since Barnett Waddingham’s inception in 1989, supporting hundreds of trustees over that time. This breadth of experience means we are well placed to help trustees navigate both routine administration and more complex challenges.

  • Over 120 FURBS currently under management (as at 1 June 2026)
  • Extensive experience across a wide range of asset types, including: 
    • Commercial and residential property
    • Unquoted shares
    • Loan arrangements

This depth of knowledge allows us to provide informed, practical guidance tailored to each scheme.

Our Services

We offer a comprehensive range of services to support trustees of existing FURBS, including professional trusteeship where required.

Core Support

Scheme reviews to assess compliance against legislation and the governing deed, and identify any required remedial action
Appointment as professional trustee, sharing responsibility and strengthening governance
Support with member or death benefit payments
Assistance with the orderly wind-up and closure of schemes

Ongoing Administration

As part of our ongoing support, we can provide:

  • Preparation of financial statements
  • Management of the Trust Register
  • Day-to-day administration, including support with investment transactions
  • Monitoring of legislative and regulatory developments affecting FURBS
  • Continuity of knowledge, ensuring we understand both the scheme and its members, enabling us to guide trustees sensitively and effectively, particularly in the event of a member’s death

Supporting Trustees with Confidence

Managing a FURBS can be complex, particularly for lay trustees. Our role is to provide clarity, share responsibility, and ensure schemes are managed efficiently, compliantly, and in line with trustees’ duties. If you would like to discuss an existing FURBS please contact Ian Jones

A woman in a white shirt is holding a blue mug and looking at her smartphone. She stands near a window in a modern, light-filled office environment.

Speak to our experts

To find out more about how our expertise can support your needs, please contact our team.

New business enquiries

New business enquiries

Get in touch with our team to discuss your needs.

A person sitting at a wooden table interacts with a tablet, reading content while holding a stylus. A cup of coffee sits beside them, and an open magazine is visible nearby.

Visit our self-investment pensions hub

We're committed to keeping you up to date on the latest self-invested pensions news and commentary. Access a selection of content that may help you with difficult pension choices.

Find out more

Related knowledge and resources

Key contacts

Blogs