- Auditel Consultant:
- Adrian Burton
Complimentary Health Check of your Group Pension Scheme
06 Jul 2010 | Filed under: UncategorizedAuditel understand that many companies are concerned about the cost and risk associated with running a company sponsored pension scheme. In an increasingly changing environment it is important for employers to frequently assess their pension strategy to ensure it is ‘fit for purpose’ and that it delivers value for money.
The Government has published terms of reference for a review of workplace pension reforms and it is due to report by 30th September 2010. The Government has stated it remains committed to automatic enrolment and will be looking whether the existing framework is appropriate including a review of the availability and capacity of pension providers and NEST to support automatic enrolment and deliberating on the most effective way to deliver access to workplace pensions. This comes at a time when the Pensions Regulator has finalised its revised guidance on internal controls which include record keeping, investment and retirement processes of work place pension schemes.
With all this potential change to works pensions and the additional administration for business owners Auditel sought a leading independent organisation to assist our clients with a review of their Group Personal Pension schemes.
We have arranged for complimentary reviews to take place which will enable employers to undergo the important exercise in ensuring they and their employees have value for money whilst at the same time ensuring legislative requirements are met and monitored.
The review will also assess other factors of the company scheme including:
Scheme charges
Scheme communication
Scheme structure
Investment strategy
Scheme efficiency
It is rarely the case that an audit does not unearth potential:
Cost savings
Administrative efficiencies
Increased communication opportunities
Increased value for money
………………… without an increase in operating costs to the sponsoring employer/company.
To give your group pension scheme a complimentary health check please contact Auditel.
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