Corporate Scheme Administration
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Pension scheme administration is at the heart of what we do and has been our passion. Trustees are not expected to be professional administrators; we come in to provide service and advice to ensure the trustees fulfil their obligations. We are proud of our record of accomplishment in scheme administration services.
PRODUCT DETAIL
- We work with trustees to develop robust migration and implementation plans
- We use market leading technology to provide high quality pensions administration service.
- Our solutions cater for all types of schemes: DB, DC and Gratuities.
- We build solid relationships by communicating consistently with members throughout the whole pension life cycle.
- Our regular reports detail client scheme operations and compliance to ensure customer satisfaction.
- We provide relevant advice to trustees on exercising discretions.
BENEFITS
- We provide our clients with a fully tailored service. From ensuring the integrity and accuracy of data in the initial stages of scheme migration, to the day-to-day administration of a scheme, and providing members with 24/7 access to their data.
- Our administration solutions give our clients the confidence and security that their members are being well cared for, enabling them to focus on their core business activity
Scheme Accounting
We keep books of accounts by recording the scheme’s assets, income, and expenses. We work with investment managers and custodians on a regular basis to obtain bank statements and reconcile them, resolving any unreconciled items, and prepare a set of accounts for trustees to review on a quarterly basis. The accounts include a net asset statement, a revenue and expenditure account, and supporting notes.
We prepare and file tax returns at the end of each fiscal year, as well as pay installment taxes and handle any issues with the Kenya Revenue Authority on behalf of the trustees. Annual budgets for schemes are prepared for discussion and approval.
PRODUCT DETAIL
- Full trustee report and accounts
- Cash flow management
- Investment accounting
- Quarterly accounts
- Tax payments and returns
BENEFITS
- Octagon retirement scheme accounting services are delivered by a team of fully qualified accountants with a strong background in the pensions industry.
- We work with Trustees and their service providers to develop accounting solutions tailored to meet their needs, taking responsibility for all accounting information, and always adhering to accounting standards.
- Whether a single set of audited accounts is needed or a complete solution for tax payments and reports, we can deliver a suite of services that are as unique as our clients.
