Pensions

Pension consulting and administration

Scheme administration for trustees and sponsors

Sapon is registered as a pension scheme administrator under the Retirement Benefits Authority Act, 1997. We keep member records, coordinate the scheme’s service providers and handle statutory reporting, and we meet every record-keeping and fiduciary duty in a professional and ethical way.

Our operations are computerised, so we can pull and share scheme information quickly. Statements of account are issued at the end of each scheme year and show the fund value and each member’s value, split into employee and employer portions.

Administration services

What we handle for your scheme

Benefit administration

Member records, personal and historical
Application and beneficiary nomination forms
Processing contributions and allocating them to member accounts
Calculating and paying benefits on leaving service
Asset transfers on instruction from the fund manager and trustees
Records of pensioners, deferred pensioners, new entrants and leavers
Records of all payments out of the scheme

Secretarial services

Arranging and attending quarterly trustee meetings
Quarterly reports to the employer and trustees on the state of the scheme
Coordinating lawyers, actuaries, auditors, custodians and fund managers
Liaising with the Income Tax Department, the Retirement Benefits Authority and the Commissioner of Insurance
Advising trustees on the Retirement Benefits Act, the Trustee Act, the Income Tax Act and the Income Tax (Retirement Benefit) Rules

Documentation

Drafting the trust deed and rules in line with the law and the wishes of the sponsor and trustees
Letters of announcement and deeds of appointment and removal
Registering the scheme with the relevant authorities
Running trustee elections and nominations as the RBA requires
Statutory returns to the RBA and the Commissioner of Income Tax
Keeping members, the employer, actuaries and investment managers informed

Communication with members

Audit and actuarial valuation

Preparing annual accounts as the Retirement Benefits Act requires
Arranging annual audits by approved auditors and discussing the accounts with trustees
Filing signed audited accounts with the RBA and Income Tax, and notifying members
Collating data for the actuarial valuation and explaining membership movement to the actuary
Interpreting valuation results for trustees and filing the signed report
Implementing trustee decisions on a surplus or deficit

Investment performance

Pension plan consulting

Advice on strategy, rules and funding

Our pension specialists support sponsors and trustees in three areas:

Fees for pension services are negotiable and depend on membership size and contributions.

Plan document composition

We prepare plan rules for new pension plans, and amendments or full rewrites for existing plans.

Plan member communications

Clear material and support so members and beneficiaries understand their plan:

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Free consultation

Don't leave your future to chance

Contact Sapon Insurance Brokers for a free quote and a personal insurance consultation. Our team will help you protect what matters to you.