One of the major tasks pension schemes have to face either every week or month is running the payroll. In fact, the payment of pensions to the members is the most important function of the pension scheme and is, ultimately, why the scheme exists.
It is also the most visible aspect of the management of the pension scheme – fail to pay pensions on time at your own peril!
Our sister company, A4G Bookkeeping and Payroll LLP, provides payroll services for hundreds of payroll schemes for a variety of clients
They are able to prepare and run the payroll for pension scheme members, either as a stand-alone function for the trustees, or alongside also running the payroll for the sponsoring employer’s business. All payrolls meet the RTI regulations as required and the team will prepare the necessary reports, journals and payslips required for your pension scheme and business.
All payrolls include the management, calculation, deduction and payment of any tax due direct to the HMRC, and where appropriate, the collection and payment of national insurance. Reporting will also be carried out by the payroll team.