FINANCE NEWS: Pensions accounts package launched for small schemes

A new pensions accounting package has been launched for small and medium-sized pension schemes.

According to software company Euraplan, which developed the package, it is aimed at the kind of schemes run by many charities.

Graham Brown, pension fund manager at Barnardo's staff pension scheme said: "The basic needs of a pension scheme, whether it's small or large, remain the same, and it is good to see a company providing a very reasonably priced solution.

"We will now be able to say that as far as scheme accounting goes, we will all be on a level playing field," said Brown.

The package, called OpenAir Lite, is designed to replace spreadsheets and is suitable for both defined-contribution and defined-benefit schemes.

Barnardo's has admitted there is a shortfall in its pension fund (Third Sector, 22 October).

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