Internal Control Assurance Report 2023 - Third Party Administration

Railpen delivers high-quality pensions and investment services to the Railways Pension Trustee Company Limited (RPTCL) and for clients requiring third-party pension administration services through its Third Party Administration. This is our Third Party Administration Internal Control Assurance Report for the year ending 31 December 2023.

05 July 2024


Assurance Report for year ended 31 December 2023.

Important notice

Please read the following notice and confirm below to access the Assurance Report.

A report on the controls of pension administration and information technology services prepared by the Directors of Railpen Limited. (“Directors”), to which is appended an assurance report on pension administration and related information technology controls for year ended 31 December 2023 prepared by the Service Auditors solely for the Directors (“the Service Auditors’ Report”).

The Assurance Report is available for viewing by visitors to this site who confirm that they have read and agreed to this notice by using the below password to access the report.

The Service Auditors’ Report has been prepared on a confidential basis in accordance with terms of engagement agreed by the Directors with the Service Auditors.

The purpose of making available the Assurance Report is solely to enable readers to verify that a report relating to the pension administration and related information technology controls of Railpen Limited and prepared in accordance with the framework set out by the Institute of Chartered Accountants in England & Wales in Technical Release AAF 01/20.  ‘Assurance reports on internal controls of service organisations made available to third parties’ and the International Standards on Assurance Engagements 3402 (“ISAE 3402”) has been commissioned by the Directors and issued by the Service Auditors.

Your attention is drawn to the following conditions of disclosure of the Assurance Report.

  1. The Assurance Report has been produced solely for use by the Directors and should not be regarded as suitable to be used or relied on by any reader (other than the Directors (as a body)) wishing to acquire any rights against the Service Auditor for any purpose or in any context.
  2. No parties other than the Directors are entitled to rely on or make decisions based on the Assurance Report.
  3. In consenting to the posting of the Assurance Report on this website, the Service Auditor does not accept or assume any responsibility or duty of care towards any readers of the Assurance Report other than the Directors (as a body) in respect of:
    1. the Service Auditor’s work for the Directors,
    2. the Assurance Report, or
    3. any opinions that the Service Auditor may have formed,

and, to the fullest extent permitted by law, the Service Auditor will accept no liability in respect of any such matters to any readers other than the Directors.

d. Having consented to the disclosure of the Assurance Report from the relevant website, you agree not to disclose it to any other party.

Should any readers other than the Directors choose to rely on the Service Auditors' Report, they will do so at their own risk.

The password for this document is accepted.