Accounting for pension schemes
Providing a full range of pension accounting services in all areas for employee benefits and other long term liabilities
In a world of volatile markets, regular changes to accounting standards, increased scrutiny from audit regulators and the complexities of pension schemes, it can be difficult to keep on top of your accounting and financial reporting.
To ensure you stay ahead, we provide a full range of services and insight into every aspect of pension accounting. We’ve worked with a broad range of pension schemes who have felt the benefit of our advice. Our independent, in-house technology also provides clarity and focus for your pension scheme.
Our pension scheme accounting services are based on a culture of providing all our clients with high quality, professional service through strong personal relationships and tailored solutions while remaining competitive on service costs.
Our advice on defined benefit pension schemes includes:
We also provide a range of pension fund accounting services in relation to post-retirement medical plans and share based payments. As well as carrying out the necessary calculations for reports and accounts, we can advise on the choice of underlying assumptions and the sensitivity of the results to changes in assumptions.
To assist clients in setting their own assumptions we prepare an annual research series of the key actuarial assumptions used by FTSE350 companies for DB pensions schemes.
Our newsletter highlights the areas that should be considered when setting the actuarial assumptions.Subscribe today
We have developed an interactive modelling tool, Illuminate, to help Finance Directors understand and quantify the factors influencing the financial position of their pension scheme. It also allows an instant assessment of the sensitivity of the accounts to the year-end assumptions so that the Finance Director can make a fully informed decision on the optimal approach.
We carry out annual surveys of the assumptions adopted by UK universities for determining the value of their pension liabilities for accounting purposes. The surveys focus on universities which operate Self Administered Trusts (SATs) and look at the significance of these schemes in the context of the overall finances of the university as well as at the assumptions used in their accounting disclosures.
"Using Barnett Waddingham’s process, the consolidation went extremely smoothly. Delivery was on or ahead of schedule and the auditors didn’t raise any issues."Read the case study