Pensions Administration

  • A thorough take-on process incorporating a “HealthCheck” of data and documentation, free of charge.

  • Service and accuracy standards that are second to none.

  • The option of online member/trustee/employer access.

  • Use of industry leading systems.

  • Maintenance of fully computerised and comprehensive membership records.

  • Calculating benefits and providing benefit quotations, statements and notifications.

  • Responding to member queries.

  • Processing of member movements and payment of benefits including AVCs.

  • Stewardship report twice a year.

  • Provision of data for valuations, scheme returns, or other routine purposes.

  • Operating trustee bank account and managing cash flow and disinvestments.

  • Monitoring receipt of contributions in accordance with the Schedule of Contributions and statutory deadlines.

  • Calculating pensioner increases and pensioner notifications.

  • Operation of pensioner payroll and issuing P60s.

  • Regular pensioner existence checks (every two years).

  • Assessment of benefits against Annual Allowance and Lifetime Allowance where applicable.

  • Provision of annual draft report and accounts for the Scheme.

  • Provision of annual draft report and accounts for the trustees and the company.

People

We only employ pensions’ professionals. 80% of our administration team have over 10 years’ pensions’ administration experience.

One person will be nominated as the main administration contact, but all members of the team are familiar with all of our clients.

The senior members of our team are either Diploma or Associate Members of the Pensions Management Institute.


Systems

All data is held and calculations will be programmed on our administration software, P3.

This is one of the most advanced software solutions for pensions administration and is fully compliant with all legislation and regulations.

We can also provide clients with access to our systems.



Processes

We use checklists for all administration tasks to ensure that tasks are performed uniformly and in accordance with legislation and scheme rules.

All benefit calculations and letters will be overseen and approved by a senior member of staff.



Service standards

We consistently provide a reliable, timely and accurate administration service with a commitment to completing standard calculations within 5 working days, or more urgently when required.

One of our core aims is to ensure that retiring members receive their lump sum retirement benefits on their first day of retirement.