Actuarial
- Actuarial valuations for setting the contribution rates along with all the relevant statutory advice and certifications. We can use an interactive “pensions cockpit” model so that you can immediately see the impact on a change to the assumptions. This often helps the trustees and employer reach agreement quicker.
- Annual actuarial updates when a full valuation is not being carried out.
- Calculation of Pensions Protection Fund (PPF) liabilities for levy determination purposes. As a matter of course we check the levies invoiced are correct. Furthermore, we can advise on how to reduce future PPF levies.
- Calculation of the solvency funding level based on insurance company annuity and deferred annuity rates.
- Advice on transfer value basis and, where it is appropriate to reduce transfer values, calculation of the appropriate reduction. With the new flexibilities for defined contribution schemes, it is important to review the transfer value basis to ensure that it is appropriate.
- Advice on the Statement of Investment Principles.
Administration
- Administration of both Defined Benefit and Defined Contribution Schemes.
- Record keeping and full calculation of member options and benefits. We provide a friendly and caring touch when dealing with members.
- Pensions payroll.
- Banking/cash management.
- Accounting and drafting the Trustees Report & Accounts.
- Providing regular stewardship reports.
- Updating the Scheme Return on the “Exchange” portal.
- Data cleaning and GMP reconciliation.
- Statutory Money Purchase Illustrations for members’ defined contribution funds.