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DBC Pension Services


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Administration
Administration

Pension Scheme Administration

DBC Pension Services offer a range of administration services these include:

  • Programming of the computer to reflect the existing Scheme Rules

  • Maintenance of the Administration system with records for all Scheme Members including the setting up of historic benefit entitlements

  • Calculation of all benefit entitlements including estimates and final options for both early leavers and retirements

  • Calculation of benefits due on death of Members

  • Calculation of transfer entitlements

  • Preparation and issue of Members’ Annual Benefit Statements

  • Preparation and issue of all Annual Renewal Schedules covering (as required):

    • Member and Company Contributions due
    • Life Assurance Cover
    • Pending Retirements
    • Membership movements during previous year (for Annual Report)

  • The provision of data to the Actuary for the triennial Actuarial Valuation and FRS17

  • Maintaining records in respect of Members AVCs and liaison with AVC Providers

  • Liaison as required with Banks, Building Societies, Tax Office etc

  • Monitoring HMRC restrictions

  • Provision of a Performance Report each quarter in accordance with the agreed service standards

  • Attendance at one trustee meeting per year

In addition to the above and in accordance with the compliance procedures we will:

  • Ensure that all benefits conform with the requirements of the Inland Revenue and deal with the HMRC as required

  • Ensure that all benefits conform with the contracting-out requirements and deal with the DWP and the Pensions Regulator as required

  • Deal with the requirements of the Disclosure Regulations

  • Deal with the Pensions Registrar

  • Deal with the requirements of the Data Protection Act 1984 as amended by the 1998 Act to specifically include:

    • the Company will only process the data provided to it or collected by it on behalf of the trustees in accordance with the trustees’ instructions
    • Ensure that appropriate measures are taken to protect against unauthorised or unlawful processing of personal data and against accidental loss of, or damage to, personal data