MY CIPP
Pensions health check: are you ensuring your pension schemes are administered correctly?
Natasha Taylor ACIPP, CIPP Consultancy and Partnership Lead, explains what the IPPE pensions health check is and how it could help your business E nsuring pension compliance isn’t just a regulatory necessity; it’s a fundamental part of responsible compliance with auto-enrolment legislation, it’s crucial for businesses to ensure their
ensuring pension processes meet legal requirements.
pension schemes are administered correctly. At IPPE, we offer a pensions health check, a comprehensive review designed to assess and improve pension compliance and efficiency. This service is similar in approach to the PAYE health check, which helps organisations identify risks and rectify payroll issues before they become costly problems. The pensions health check is an independent audit service which examines an organisation’s pension processes, policies and compliance with UK pensions legislation. This service is valuable for businesses of all sizes, as pension management is subject to stringent regulatory requirements enforced by The Pensions Regulator. Our expert consultants review an organisation’s pension arrangements to ensure contributions are being correctly calculated, deducted and submitted on time. The service helps businesses identify potential errors, inefficiencies or areas of non-compliance which could lead to financial penalties or reputational damage.
Process improvement Identify inefficiencies and errors which could be costing the business time and money. Risk reduction Avoid common pitfalls in pensions administration which may lead to employee disputes or regulatory scrutiny. Enhanced employee confidence Ensure employees have confidence in their pension scheme, leading to improved engagement and retention. The IPPE’s pensions health check is a proactive service which helps businesses maintain compliance and efficiency in their pension administration. With the ever-changing pensions landscape, having a structured and professional review can prevent costly mistakes and ensure peace of mind. Employers who want to stay ahead of pension regulations and optimise their payroll processes should consider engaging with IPPE for this essential service. Ultimately, the organisations that embrace a forward-thinking approach to pensions won’t only meet regulatory requirements but will also foster a financially secure workforce, positioning themselves as leaders in employee wellbeing and corporate responsibility. n
business leadership. As organisations strive to attract and retain top talent, offering a well managed pension scheme can be a significant differentiator. In an era where employees are more conscious about their financial futures, employers must go beyond basic compliance and foster a culture of financial wellbeing. The pensions landscape is continuously evolving, with regulatory changes, technological advancements and shifting workforce demographics shaping the way pensions are managed. As automation and analytics driven by artificial intelligence become more integrated into payroll and pension systems, businesses can enhance accuracy and efficiency while also reducing administrative overhead. Employers must stay ahead by adopting digital-first approaches, ensuring their pension schemes are not only compliant but also optimised for future developments. Partnering with organisations like IPPE provides businesses with the expertise and insights needed to navigate these changes effectively. So, what is the pensions health check? Managing workplace pensions is a complex and ever-evolving responsibility for employers. With the increasing scrutiny from regulators and the need for
Benefits of the pensions health check
Organisations that undergo a pensions health check can expect multiple benefits:
Compliance assurance Minimise the risk of penalties by
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| Professional in Payroll, Pensions and Reward |
Issue 109 | April 2025
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