Scheme administration is a critical and integral part of the day-to-day management of Pensions scheme. It is a specialized field that requires professional skills to ensure the smooth management and running of the scheme.
These services we offer under our suite of Pensions administration services include:
- Core administration: Full member data maintenance, benefit calculations and communicating benefit options to members.
- Preparation of scheme accounts: Full bookkeeping service and preparation of scheme’s annual accounts for audit.
- Pension Payroll: Maintaining a continuously updated database and running the pension payroll. Documentation and compliance: Ensuring the scheme is compliant with legislation and tax requirements and all documentation and agreements maintained and controlled.
- Trustee services: A secretarial service including, arranging trustee meetings, taking minutes, drawing action points and coordinating delivery of action points.
- Member communication: Keeping scheme members informed of their benefits through appropriate information (booklets, leaflets), benefit statements and education forums.
- Web access and online tools: We have a variety of online access tools including a mobile phone app. The member portal enables Pension fund members to view their contribution history and benefit statements as well as submit benefit payment requests and changes to their nominated beneficiaries. We also provide access to interactive online tools to enable members to better plan their finances and Pension savings.
- Balloting: we can act as the external returning office for the conduct of elections for member elected trustees. This can be done in the form of a manual ballot or online election.
- Trustee training: Trustees of Pensions funds have onerous responsibilities. It is critical that trustees have knowledge and understanding of their roles. We have a variety of trustee training programs ranging from basic trustee training to more advanced training on investments, alternative investment classes, funding and governance.
A well administered scheme reflects well on members’ perceptions and by extension the state of the employer.