Pension assurance services
The pension sector is continually evolving to meet the challenges of regulation, economic and political uncertainty together with the changing needs of members.
Smith & Williamson is here to bring a deep understanding to these issues and to work in partnership with trustees and sponsors to help them achieve their objectives.
Meeting your needs
We operate a specialist pension assurance department, with staff devoting 100% of their time to this field.
The team carries out no corporate assurance, removing any perceived or potential conflicts of interest with participating employers.
We have invested heavily in developing our people, giving them the skills and experience required to meet the sector’s needs. Strong communication is embedded in everything that we do.
We combine a robust assurance process with commitment to provide support wherever needed, investing time and effort into getting to know each scheme’s needs. Ours is a cost-effective service, driven by a combination of sensible charge rates, a focus on delivery and specialist knowledge.
How we can help
Internal controls reviews
We carry out internal controls assurance under AAF 01/06, AAF 02/07 and ISAE 3402. We have significant experience of assisting Master Trusts, looking at DC pension administration and working with independent trustees.
We provide statutory audits to all types of occupational pension schemes including hybrid and DC only schemes. We have a particular expertise with schemes transferring to the Pension Protection Fund, scheme in wind up and schemes in distress or having unusual and difficult situations.
The team carries out no corporate assurance activity, removing any perceived or potential conflicts of interest with participating employers.
We review systems, controls and risk management processes as part of a scheme’s internal governance procedures providing practical recommendations that trustees can be confident will work.
- Preparation of scheme accounts
- Reviews of scheme providers against service level agreements
- Preparation and filing of scheme tax returns
- Reviewing in detail the transition of investments between investment managers
- Auditing performance-related fees paid to advisers
- Advising trustees and advisors on detailed disclosures in scheme accounts
- Acting as returning officer in member-nominated trustee elections
- Reviews of scheme risk registers
- We also carry out employer covenant reviews for trustee boards.