| APRIL 2012 |
|---|
| 99.28% of service standard turnaround achieved overall. |
We are dedicated to providing a quality, professional small self-administered scheme (SSAS) administration service, individually tailored to the meet the specific needs of each client.
As the appointed scheme Administrator and independent trustee to all our clients’ schemes, we alleviate the complexities of scheme administration, which can otherwise fall to the member trustees.
Our aim is to fully understand our clients’ objectives, to give them the reassurance that, with our support, any decisions they make will comply with pension scheme regulations and meet all the requirements of legislation. To achieve this, clients are allocated an experienced consultant and a skilled administrator who are dedicated to providing a friendly and efficient service.
By working closely with our customers, our consultants and administrators can make sure that when important deadlines must be met, they are.
We are focussed on continuous improvement in the quality of the services we provide. Our bespoke SSAS administration services are highly consultative in their nature and are monitored against demanding processing timescales. We aim to complete no less than 95% of our work within these timescales.
The accolades we receive give an insight into the quality of our service and the relationship we have with our customers.
Good news stories from around the business demonstrate the benefits that our approach to service brings to our customers.
Rowanmoor Pensions’ SSAS processing timescales
All days quoted are working days, following receipt of all required information and appropriate authorisation. We aim to complete no less than 95% of our work within these timescales. Due to the highly consultative nature of our SSAS administration, and other factors, including the involvement of third parties, there may be occasions when it is not possible.
| Issuing application packs | 1 day |
|---|---|
| Acknowledging receipt of new applications | 1 day |
| Processing applications Includes issuing new scheme documentation and establishment of the scheme bank account with The Royal Bank of Scotland plc. |
3 days |
| Processing cheques | 1 day |
|---|---|
| Money received | 1 day |
| Payments out Dependent upon the availability of cleared funds. |
1 day |
| Transfer in or out Transfers, in particular in specie transfers, are complex and involve liaison with third parties. This is the timescale we aim to meet to process forms and respond to requests, during each part of the transfer process. |
10 days |
|---|
| Investment feasibility investigation Reviewing requests for investment in new assets of a complex nature, not already approved by us, and providing feedback. |
10 days |
|---|---|
| Processing new investments Dealing with each stage of an approved investment. |
3 days |
| Processing existing investments Dealing with each stage of any changes to an existing investment, such as a sale or partial disinvestment. |
3 days |
| Processing requests Reviewing requirements and processing requests for calculations. |
10 days |
|---|---|
| Retirement illustrations Provision of retirement illustrations, for benefits a member may take from the SSAS. |
10 days |
| Paying pension commencement lump sums Processing and payment from available funds. |
5 days |
| Pension payments Establishing pension payroll records and making payment. Our payroll is run on the last working day of the month. |
5 days |
| Priority correspondence Responding to priority enquiries received by post, fax, email or telephone that do not fall into the above categories. |
3 days |
|---|---|
| General correspondence Responding to general enquiries received by post, fax, email or telephone that do not fall into the above categories. |
10 days |
SSAS processing timescales
