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Pension Scheme Services

Pension Scheme Services

Reporting in a complex world

In the world of financial reporting, there are few areas more complex than pension schemes. There are so many different types of pension scheme, defined benefit schemes, small self-administered schemes (SSAS), earmarked schemes, the list is endless. All of these have different reporting requirements. In addition, the Pensions Act imposed significant responsibilities on pension scheme trustees to ensure financial reporting is transparent and timely, backed up with potentially heavy penalties for non-compliance. Added to this, there is a whole host of technical jargon to wade through and to comprehend. It is therefore essential that any pension scheme receives sound financial reporting advice from someone who has experience in the audit and accounts of pension schemes.

Experience in financial reporting of pension schemes

Here at Robson Laidler we have a broad range of experience in acting as auditors and accountants of pension schemes. We currently act for over 50 pension schemes of varying complexity and size, from full defined benefit schemes to simple SSASs. We offer both statutory audit work for the more sophisticated scheme, which prepare their own accounts, and a more comprehensive service for those schemes which require full assistance in preparing the annual report. You can also be sure that we will explain the full range of options to you, including the option of taking advantage of the exemptions from audit if this best suits your own situation.

Other help and assistance

Ensuring that reporting deadlines are not missed is very important for pension schemes, since there can be punitive penalties imposed by the Pensions Regulator. It can therefore be re-assuring to know that we can ensure that you are reminded about the important deadlines well in advance to avoid such problems.

In addition, we offer a comprehensive tax service to pension schemes, including the preparation of pension scheme tax returns, and income tax reclaims. We can also liaise with your pensioneer trustee and actuary to ensure that actuarial reports are completed on time. Other specialist tax advice can be given on the tax implications of proposed transactions between pension schemes and companies.

Independent advice

For those schemes that need separate specialist investment advice, we have a network of contacts in the pensions industry to which we can refer you

Further information

For further information on your own pension scheme's requirements, please contact us or email Michael Moran