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Pensions Audit and Assurance

Pensions Audit and Assurance

KPMG is a leading provider of audit and assurance to pension schemes and sponsors in the UK.

KPMG is a leading provider of audit and assurance to pension schemes.

KPMG’s Audit and Assurance practice provides industry leading pensions assurance and audit services to UK based final salary and defined contribution schemes.

  • We understand pensions audit and assurance: KPMG currently provides assurance services to over 450 pension schemes in the UK including over 30% of the top 100 UK schemes . We use accredited staff: Accredited teams with industry leading knowledge and the right experience and training, working to bring you efficient, informed and effective reporting.
  • We assist with scheme governance: We add value to scheme governance by providing constructive and proactive comments on your financial controls. We can compare them to your peer group using our industry leading financial controls benchmarking analysis.
  • We provide enhanced feedback: We harness the internal specialist knowledge within KPMG, and gained through our financial sector services, to bring added depth to our work on benefits and investments.
  • We keep you abreast of relevant developments and current thinking: We are extensively engaged with the industry through bodies such as PRAG and the ICAEW. Our dedicated technical team works to keep us and you up to date with accounting and regulatory developments.

Assurance Services

Apart from external audit, we offer a wide range of assurance services, including:

Accounting and Regulatory Assistance:

Leading Practice and Governance Reviews:

  • Recommendation of improvements and efficiencies in all aspects of your scheme’s governance and operations
  • Assistance in meeting and exceeding the Regulator’s Codes
  • Examples of such reviews are as follows: management of providers, investment governance, IT security and business continuity planning, treasury, and data remediation
  • Assurance reporting for master trusts

Internal Audit:

  • Risk-based assurance which dovetails with other sources of assurance
  • Project assurance aligned to key milestones, e.g. new administration systems, delivered through co-sourcing, outsourcing or discreet reviews

Extended Assurance:

  • Increasing the breadth and depth of the core statutory audit with additional testing and analysis to provide supplementary assurance and insights, for example, recalculation of salary related and career average benefits in complex schemes together with a review of records maintained

Risk Management:

  • Helping you comply with The Pensions Regulator’s expectations
  • Getting more from the risk management process and linking it to the controls and governance framework
  • Advice on embedding risk management into trustee business and operations

DC governance:

  • A health-check of your DC controls framework
  • Helping you comply with The Pensions Regulator’s Codes including the Code and Guidance on DC schemes


Future events

  • We will be holding further events through the year, including an Autumn Technical seminar. These events are open to Trustees, Scheme Accountants, Managers and Technicians. Watch out for details on the website or if you want to receive an email notification of new events, email us.

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