Clement Keys
Chartered Accountants

At Clement Keys, we realise that the pensions sector is highly regulated and complex and operates within a detailed legal and accounting framework.

We have developed a specialist pension team which has considerable experience in this area and fully appreciate that specialist skills and knowledge are of fundamental importance if we are to effectively service the requirements of our pension scheme clients.

We currently act for over 160 pension schemes ranging from small defined contribution schemes that provide benefits to the directors of owner managed businesses through to large and complex multi-employer schemes with mixed benefit bases.

Clement Keys is a member firm of The Pensions Research Accountants Group (PRAG), which is the body that, amongst other things, advises on the form and content of pension scheme accounts.

We ensure that our clients are kept up to date with changes in legislation through a quarterly “Pensions Schemes Briefing” newsletter.

Our services to the pension schemes sector are wide ranging and can be made available to trustees on a scheme specific basis, or to administrators and other advisers as outsourced services. They include:

• Accountancy - assistance in drafting the annual report and accounts

• Assurance - the statutory audit of annual financial statements and audits required under the scheme specific funding regime and for Pension Protection Fund purposes

• Governance - assessing the effectiveness of trustee board procedures in order to put in place best practice procedures

• Risk management - assistance with identifying and classifying risks facing the scheme and delivering solutions to mitigate those risks

• Employer covenant reports - assistance to trustees in assessing the capacity of the employer to pay contributions at specific levels

• Taxation - compliance services to trustees in respect of H M Revenue and Customs reporting requirements and ad hoc advice relating to VAT aspects of the operation of the scheme

• Payroll services - the operation of pensioner payrolls as a stand alone service