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Scheme Audit re-release (with bonus tracks!)

Youíll remember, Iím sure, the mega-BeeLine that I wrote last September about my suggestion that all schemes and individuals should undertake a Ďscheme audití with their advisers to check out how they are likely to be affected on A-Day. Iíd been promising it for most of the Summer and when I finally finished writing it turned out to be too long to get on the BeeHive server in one go, so we had to split it into four bits.

Those four BeeLines, which contained everything I understood about the 2004 Finance Act back then, have proved to be very popular and thatís why Iím currently working on a similarly-mega BeeLine based on the 2004 Pensions Act. No promises, but Iíll get it put on the site as soon as Iíve finished it. To be honest, the whole thingís doing my head in at the moment, but Iíll get there I guess.

While Iíve been slaving away at that and a few other things, though, our top-notch technical and marketing teams up in Edinburgh have been doing some great work turning the original Scheme Audit BeeLines into user-friendly key issues documents and checklists that advisers can use when discussing the A-Day implications with clients.

We have produced three categories of items; Pension Scheme Reviews - Key Issues Documents (aka Scheme Audits); checklists that can be used with each key issues document to record whatís relevant for clients; a client review form to record an individual clientís existing pension scheme information to aid advisers when conducting reviews. I mean, how goodís that? This new work builds on the original BeeLines, but the new documents contain more up to date material and information than I had back then. Also, the Pension Scheme Reviews and Checklists come in three separate flavours; Final-Salary, Occupational Money-Purchase and Group Personal Pension/Group Stakeholder. Itís a pretty thorough job and Iím chuffed to see it all to tell you the truth.

Not only are the new items comprehensive, up-to-date and whizzy, but theyíre also available as downloadable PDFs from our Technical Central website. (Are we modern or what?) Well, because of that, I thought it would be a great idea to put out a BeeLine (this one in fact) that would contain links to the four original Scheme Audit BeeLines and links to all of the downloadable PDFs for the Scheme Reviews and Checklists. A kind of BeeHive Greatest Hits with bonus tracks! A bit like having Christmas and your birthday all rolled into one if youíre a genuine pension freak I would say. Itíll probably be a collectorís item one day.

Anyway, the links all follow at the end here, so what are you waiting for?


Scheme Audits - introduction

Scheme Audits: part 1 - scheme benefits and contributions

Scheme Audits: parts 2 & 3 - administration and communication

Scheme Audits: parts 4, 5 & 6 - transitional protection

Pension Scheme Reviews

Final Salary/Defined Benefit Schemes

Occupational Money-Purchase/Defined Benefit Schemes

Group Personal Pension & Group Stakeholder Schemes


Final Salary/Defined Benefit Schemes

Occupational Money-Purchase/Defined Benefit Schemes

Group Personal Pension & Group Stakeholder Schemes

Client Review Form

Steve Bee
28 January 2005

This document is based on Scottish Life's current understanding of the Finance Act 2004 and the Pensions Act 2004. These may be affected by future changes in legislation and the individual circumstances of the investor. Independent advice must be sought regarding the effect on a specific scheme.