Pensions & Payroll Services
A market leader in cross-border pension & payroll services
For over 60 years, Crown Agents Bank has provided Pensions & Payroll Management & Administrative Services to pension funds and pension fund providers. We specialise in making global payments, including to pensioners in difficult to reach places. Governments, corporates and organisations use our services to ensure payments are handled effectively, efficiently and reliably around the globe, especially in our focus markets; Africa, the Caribbean, Latin America & Asia Pacific.
Crown Agents Bank is well placed and uniquely qualified to work with larger organisations making exotic currency payments into some of these challenging markets for other providers by bringing our strong compliance, expertise and long term ethical approach based on partnering, customer satisfaction and value for money.
- We work with our clients to provide a solution tailored to their individual needs. These range from payment only, payment and life certification, or only life certification
- Pension Payments Outsourcing
- Cost effective international payments monitored from inception to credit to beneficiary
- All pensioner payment queries managed directly, on your behalf, by a team of dedicated experts
- Annual life certification, or more frequent if desired
- Comprehensive currency capabilities allowing us to pay in a wide variety of currencies
We manage life certification cost effectively, professionally and sensitively ensuring minimal impact on the recipient pensioners, minimising the chances of over payment and the diminution of pension funds.
- Written contact with pensioners/annuitants
- Verification of all information provided
- Professionally attested certification (notary public, lawyer, etc.) using our in-depth local knowledge
- Full disclosure and feedback to client
Crown Agents Bank carried out a review of the life certification programme for a UK pension fund. The pension fund had in excess of 4,600 pensioners living overseas and wanted to ensure that the chances of over-payment was minimised. While the majority responded and over 1,000 needed reminding, some pensioners were deemed too frail to complete the certification – therefore Powers of Attorney were sought.
We managed the process ceasing payments to minors who had become adults and those that had passed away. We also suspended payments where no communication was received. The annual saving achieved by Crown Agents Bank for our client was over £500,000 per year.