What is Rowanmoor Pensions' role?
Under a Family Pension Trust, Rowanmoor Trustees Limited is the independent trustee and Rowanmoor Personal Pensions Limited is the scheme Administrator and scheme operator. These roles are central to the successful management of the scheme. This is primarily because of the complex nature of pensions and taxation legislation and the need to have a detailed knowledge of Her Majesty's Revenue and Customs' (HMRC) compliance and audit regime. As scheme Administrator, Rowanmoor Personal Pensions Limited is responsible to HMRC for the running of the scheme.
Rowanmoor Pensions' other services include:
- providing legal trust documentation to establish and govern the scheme and, where necessary, amending it;
- registering the scheme with HMRC;
- scheme administration services;
- keeping up-to-date and accurate records of all scheme investments, income and expenditure;
- technical support regarding all aspects of the scheme, its investments and benefits;
- preparing annual scheme accounts;
- liaising with HMRC where necessary and filing the scheme reports required by them;
- making any payment due to HMRC from the trustee bank account.
Rowanmoor Pensions will advise the member trustees on the regulations affecting their scheme and the requirements of legislation. Representatives from the company are available to attend trustee meetings.
As independent trustee, Rowanmoor Trustees Limited must be co-owner of all investments.