Scheme Accounting and Payroll
In many respects, pension scheme accounting is an ideal candidate for outsourcing. It is a discrete function which requires knowledge and experience not normally available amongst pensions specialists. And it is easily isolated from the other disciplines employed in pension scheme management. This makes it suitable not only for outsourcing but also for being carried out almost entirely off-site.
Probis is an organisation particularly well qualified to act as an external pensions accounting resource. This is because:
- We specialise in this service and have staff dedicated to it.
- We have a considerable depth of experience in accounting for pension schemes of all types and sizes and are used to dealing with the other specialists involved, including investment managers, auditors and actuaries.
- We have computerised systems designed specifically for this type of work.
- We have set ourselves uncompromising professional standards and place great emphasis on the accuracy and quality of our work.
- We carry low overheads which, combined with the efficiency of our operations, enable us to deliver a highly cost-effective service.
Our service can encompass an independent audit or we can present the accounts to auditors appointed separately by the trustees, as required. Either way, we take control of the audit process, thus minimising cost and inconvenience to the scheme's administrators and advisers.
While our experience in Group Scheme accounting is extensive, we also have particular expertise in accounting for SSASs, and SIPPs - the sheer volume of which has brought our organisational and project management skills into play as well.
Another of our specialist activities, offered as an adjunct to scheme accounting support, is the provision of a full pensions payroll service.