At Censeo we recognize the importance of getting it right and on time
Pensions Administration
Members rarely comment on good administration – after all they are receiving the right benefits at the right time. However, when things go wrong, members will – justifiably – complain, usually to the trustees.
Our ethos is that Pensions Administration is the most important service since it affects the scheme members – the ultimate client – directly. If administration is not carried out accurately and promptly members will lose confidence in the scheme – which causes distress to them and an increased workload for you.
At Censeo we recognize the importance of getting it right and on time. Some of our competitors use junior staff in pensions administration, relying on sophisticated technology to compensate for their personnel’s lack of experience and knowledge.
Unfortunately any system is only as strong as the weakest link. We employ only experienced administrators and ensure that they receive regular training to keep them up-to-date with ever-changing pensions legislation. All work is peer-reviewed and must be signed off prior to issue.
Of course we use modern technology as well but we never allow it to be a mask for shortcomings elsewhere.
Our Pensions Administration service includes the following:
- maintenance of a database of all member information
- calculation, quotation and payment of members’ benefits on retirement, death or withdrawal
- measurment of Common and Scheme-specific Data
- corresponding with HMRC and other relevant parties
- monthly contribution allocations for Defined Contribution schemes
- production and issue of statutory and elective benefit statements, including illustrations of future benefits for Defined Contribution schemes
- management of the trustee bank account and associated treasury functions
- preparation of draft report and accounts and facilitation of audit
- miscellaneous reports as required
- direct issue of member communications.
Providing a first-rate, personal service
Actuarial Consultancy
We believe that actuarial advice should be delivered in plain English and should enable the Trustees and Company to make informed decisions. To facilitate this we enjoy meeting our clients regularly to…
Investment Consultancy
Our approach to investment consultancy begins with the Asset Planning Cycle, shown below. We believe that, by following this process, Trustees will find that they are conforming to many of the Myners'...
Pensions Administration
Members rarely comment on good administration - after all they are receiving the right benefits at the right time. However, when things go wrong… Our ethos is that Pensions Administration is…
Pensions Consultancy
We should like you to regard your Pension Consultant as the Scheme's own in-house pensions manager. He, or she, will coordinate all the other services we provide for you, keep you up-to-date with developments...
Closed Defined Benefit Schemes
Many defined benefit pension schemes are now closed to new entrants, and of those a good proportion have closed also to future pension accrual These schemes have the potential to run for many more years...
Trustee Training
There is now a formal requirement for trustees to have sufficient knowledge and understanding to fulfil their duties effectively. This is commonly referred to as TKU - for Trustee Knowledge and Understanding...