“PASA continues to grow and develop to ensure the industry has access to best practice, guidance and assessment. Our vision is that all members receive a consistently high standard of administration, no matter what type of arrangement they are in.“
Kim Gubler, Pensions Administration Standards Association (PASA) Chair
PASA was established to represent the voice of administration in the overall conversation and we take our standing in the pensions industry incredibly seriously. We have always had an open dialogue with professional bodies and forward thinkers in the industry. We are proud organisations like The Pensions Regulator have supported our accreditation framework and that we are leading on initiatives like the cross industry GMP equalisation group. We are keen to continue growing our influence for the benefit of all members of pension schemes.We live in fascinating times. The fourth industrial revolution is underway and, the world over, people saving for their retirement, have the opportunity to benefit. The exponential changes taking place in technology mean we have the potential to enhance the way members interact with their pension and invest in their future.Change is never easy but, when it comes to improving retirement outcomes, it’s worth it. At PASA we never lose sight of what we exist to do. No matter what the backdrop we continue to work on developing and delivering practical tools and guidance to help trustees, employers and administrators manage challenges and change in a way that best supports their schemes and members.
We do our upmost to speak in an accessible way, so our guidance can be easily understood and taken on board by all stakeholders in the administration of pension schemes. We are inclusive and understand the influencers of good administration have many different roles. We want to break down the barriers which result in poor administration. Our guidance supports PASA members in achieving the highest administration standards possible for pension scheme members – regardless of their sector. Only by coming together can we achieve the best possible outcomes for them.
Key to our ethos is driving a more strategic conversation around administration standards, in a similar way afforded to elements like investment strategy or governance. There is more work to be done here, which is why over the next 12 months we are keen to drive more cross industry initiatives and develop further guidance and standards that are truly valuable and accessible for all. We will be looking to push the boundaries of what’s achievable for the benefit of members, not just in terms of the industry, but geographically, looking at how what’s working well overseas might be applied in the UK.
Our approach to collaboration and working closely with our membership is critical to what we do. It’s their views and insight that help us shape what we deliver in the future. We hope you too will become a part of the conversation to help shape the future of pensions and administration standards.
Accreditation, Standards and Guidance
TPR and the DWP have both identified good administration can be demonstrated by independent accreditation. PASA Accreditation recognises the organisations in our industry who have evidenced compliance with the PASA Standards.
We aim to keep our members at the forefront of industry developments by sharing our expertise and best practice. PASA knowledge content is open-source and available, free-of-charge to members and non-members.