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Pension Scams: Protecting Pension Savers

Old age is a vulnerable phase of life for everyone, and organisations find it a big challenge to cater to the needs of their old members. People spend years to save money for their old age and spend it peacefully, and companies fully support their employees, but is it just rainbows and unicorns for the […]

Ignoring climate change risks savers’ retirement, TPR warns

Trustees who fail to consider climate risk could be exposing themselves to legal challenge. A new legal opinion, the first of its kind in the UK, has been welcomed by environmental lawyers ClientEarth as a key step towards protecting pension savers’ money from climate risk and driving private finance towards low-carbon investment. Climate change carries […]

How to complete an AAF project on time for an agreed fixed fee

At Assure UK, we know how frustrating and expensive the assurance AAF reporting process can be. This is why we pride ourselves in delivering a proven quality AAF process in a timely manner so that you have more time for governance. We will help solve your headaches by guiding you through the assurance maze with […]

Agreed-upon Procedures: The value of ISRS 4400 (Revised)

Agreed-upon procedure (AUP) reports are used by a wide range of stakeholders for a number of different reasons. The demand of AUP engagements could be attributed to in part by the growth in regulations and the increase in accountability for funding and grants. The ISRS 4400 (revised), Agreed-Upon Procedures Engagements has been updated to keep […]

What Trustees can do to help protect members from pension scams

Pension Scams Throughout the COVID-19 pandemic, there has been an ever increasing number of pension scams targeted at members and their pension pots. As furlough begins to end, members may be more inclined to look at ways to cash in their pension early and this is a potential ‘gold mine’ for pension scammers. We have […]

What have we learnt upon completion of an AAF 01/20 report?

What have we learnt upon completion of an AAF 01/20 report? The AAF 01/20 replaced the well-established AAF 01/06 and became effective for periods beginning on or after 1 July 2020. The concept of producing an AAF 01/20 report remains consistent however control objectives have been updated to place more reliance on IT controls and […]

Helping you transition to the new AAF 01/20

Many pension schemes outsource aspects of the pension activities to third party administrators, these tasks range from pension payroll, accounts preparation, contributions collection and investment to name a few. AAF 01/20 has been developed to enable third party administrators to get independent assurance over relevant control activities. AAF 01/20 replaces AAF 01/06 and was effective […]

The Pensions Regulator welcomes updated Pension Scams Industry Group (PSIG) Code of Good Practice

Combating Pension Scams is at the forefront of Trustees’ decision-making to ensure their members’ funds are fully protected within their pension scheme. Since 2015, PSIG have developed and launched the Code of Good Practice. There have been updates over the years and from 1 April 2021 the latest version has been published, below are a […]

AAF Best Practice Guide: How to budget time and cost for AAF work

Assurance reporting can be painful for many individuals and may be the last thing you want to think about and plan for amongst countless other tasks. Pain points of planning ahead for your AAF report we have highlighted may include time consumption, unreliability, uncontrollability, a waste of time and many more! This is why we’ve […]

Trends: What’s coming up in Audit and Assurance

Corporate governance and audit reform are key areas that will lead to a change in assurance approaches. “A significant package of reform” is how Sir Jon Thompson, CEO of the FRC (Financial Reporting Council) described the important ‘Restoring trust in audit and corporate governance’. White Paper by the BEIS (Department for Business, Energy & Industrial […]

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