• Trustees must formally appoint auditor, actuary & fund manager

• Fund manager not required if wholly invested in insurance policies

• Actuary & scheme auditor not required if scheme is insured & earmarked

• HMRC requires there to be a UK resident for the discharge of all duties of the scheme administrator

Scheme actuary

• The person appointed cannot be a scheme trustee
• They will:

– Prepare periodic actuarial valuations

– Provide advice about funding principles

– Certify that calculation of ‘technical provisions’ is made in accordance with scheme funding requirements

• They will also help advise on invest strategy and factors used within calculations.

E2B Scheme auditor

• The auditor will be appointed by trustees which is made in writing.
• They must not a member of the scheme, employee of the trustees, an employer in relation to the scheme, a trustee or connected to a trustee
• They must hold a practicing certificate and be registered as an auditor
• The auditor’s statement is an opinion of contributions paid in accordance with schedule. If no schedule then statement to confirm this.

E2C Scheme administrator

• They will be responsible to register pension scheme with HMRC
• They’ll operate the tax relief and claim it back on the member’s behalf.
• Report events to the scheme and make returns of information to HMRC
• Providing information to the members and others regarding LTA, benefits and transfers