Details

Course Overview: Pension Scheme Administration and Compliance

This course is designed for professionals involved in the administration of pension schemes, focusing on compliance and regulatory requirements. Participants will gain a comprehensive understanding of pension scheme structures, governance, and the legal frameworks that govern pension administration. The curriculum emphasizes best practices for ensuring compliance while effectively managing pension benefits and member communications.

Course Outline

Module 1: Introduction to Pension Schemes

• Overview of different types of pension schemes (defined benefit, defined contribution).
• Key components of pension scheme design and governance.
• Understanding the roles of trustees and administrators.
• The importance of member engagement and education.

Module 2: Regulatory Framework and Compliance

• Overview of relevant legislation and regulations (e.g., ERISA, Pension Act).
• Compliance requirements for pension scheme administrators.
• Best practices for maintaining accurate records and documentation.
• Understanding the role of regulatory bodies and reporting obligations.

Module 3: Pension Scheme Administration Best Practices

• Processes for managing member contributions and benefits.
• Techniques for effective communication with scheme members.
• Handling member inquiries and disputes.
• Utilizing technology for efficient administration.

Module 4: Risk Management and Auditing

• Identifying risks in pension scheme administration.
• Implementing internal controls and audit processes.
• Strategies for ensuring compliance and mitigating risks.
• Preparing for external audits and regulatory reviews.

Conclusion

By the end of this course, participants will have a solid understanding of pension scheme administration and compliance. Equipped with the knowledge and tools necessary for effective management, learners will be prepared to navigate regulatory challenges and ensure the smooth operation of pension schemes.