Warwick and Eaton Administrators Limited are a specialist third party pension administration company
Established in 2013 and based in the heart of Manchester City Centre, we specialise in the administration of Defined Contribution Occupational Pension Schemes, Warwick and Eaton deliver a high quality and first class service to our expanding portfolio of clients.
The company plans to continually expand its client portfolio and has been increasing its headcount to ensure experienced staff are recruited to help meet the growing demand from our clients. We have also been improving our IT capabilities, including the purchase of an advanced pensions-administration computer system, which is capable of being used for all types of schemes and makes our operation much more efficient and automated.
We understand all our clients and individual members of pension schemes want to receive a personal, professional and tailored service. This is why providing a high level of customer service and satisfaction are our main priorities, and is why our clients are happy to recommend our services.
The following are links to relevant official websites and documents that scheme members and clients (such as Scheme Trustees) may find useful
- Scorpion/Pension Liberation leaflet
- The Pension Regulator
- HM Revenue and Customs (HMRC)
- The Pensions Advisory Service
- The Pensions Ombudsman
- Information Commissioner
The following definitions are some of those commonly used in relation to pensions
The maximum limit (potentially subject to a lower limit equal to a member’s total income over the year) which applies to the amount of all pension contributions a member can make in a particular tax year. For the tax year 2014/15, additional tax charges will be levied against members where total pension contributions in that year exceed £40,000
An annual pension that can be purchased using the accumulated funds from a pension scheme, the amount of which will vary depending on factors such as age at retirement and the type of benefits required
Defined Contribution/Money Purchase
A pension scheme where the final benefits payable at a chosen date of retirement depend on the amount of contributions made by the member and employer into the fund along with any investment returns received over the relevant period
A pension scheme where the final benefits payable at a member’s date of retirement are based on the length of membership in the scheme and the member’s salary around the time of leaving the scheme
The accumulated value of a member’s individual pension fund on the specified date, incorporating all contributions made plus any investment returns received on those contributions. As these funds are invested in various different types of investments, their values can fluctuate (sometimes daily) depending on the nature of the investment held
The limit that applies to the total value of all pension funds held when you start to draw benefits. For the tax year 2014/15, additional tax charges will be levied against members where total pension funds are valued above £1,250,000
Lump Sum Payments
A member can currently take upto 25% of their pension fund at retirement as a tax free lump sum, also known as a Pension Commencement Lump Sum. With effect from April 2015, additional lump sum payments may also be possible but would be subject to taxation
Warwick & Eaton Administrators, and the pension schemes it administers, exist solely to provide members with pension benefits at their chosen retirement date (which must be at least age 55), which are consistent with existing pension legislation and HMRC rules
The employer establishing the pension scheme. The rules of a pension scheme may permit the Principal Employer to grant membership of the scheme to a non-employee
The value of a member’s individual pension fund that is available on the specified date to transfer to an alternative pension provider