PASA has invited key individuals from across the industry with wide ranging skill sets and expertise to form the DC Governance Working Group (DCGWG). With Board sponsorship, PASA has brought together people with a rich and diverse perspective who can ensure nothing falls through the gaps. The DCGWG met for the first-time in November 2017 to discuss the main issues impacting on DC administration, and agree key areas of focus.
The Group agreed six initial areas of focus; Data, Employers/Trustees, Transitions, Decumulation, Reporting, and Controls and Procedures. The DCGWG's task is to produce meaningful standards and guidance for administrators, trustees and employers which are applicable across the DC universe. TPR is a welcome observer and is keeping a close eye on the group's findings as they develop. It is anticipated our initial findings will be published in Spring 2018.
The Purpose of the PASA DCGWG is to identify, develop and recommend a set of effective industry standards and guidance to support administrators, employers and Trustees in effectively providing high quality delivery, oversight and governance of DC pensions administration.
Kim Gubler (Board Sponsor)
Michael Watkins (Chair)