PASA welcomes the government’s consultation response on trustees and governance, including plans
to introduce mandatory minimum standards and registration with The Pensions Regulator (TPR) for
pension administration providers.
PASA particularly welcomes the intention to build on existing administration standards, including its
own, and to work with industry on requirements which are practical, proportionate and focused on
member outcomes.
The planned requirements would apply to administrators of public and private sector schemes regulated
by TPR. They would focus on data quality and operational resilience, including the ability to transfer
administration services effectively. Trustees would retain overall responsibility for scheme
administration and member outcomes.
PASA supports the focus on accurate, complete and accessible records which can move between
providers without disproportionate cost, delay or manual reconstruction. Registration would give TPR
greater visibility of the administration market and support earlier identification of risks, alongside
planned powers to investigate concerns and require improvements.
David Fairs, PASA Chair, said: “Good administration is fundamental to members receiving the pension
they’re entitled to, when they need it. Clear minimum standards can help strengthen the quality and
resilience of the services they rely on.
“We welcome the government’s recognition of PASA’s Standards and its commitment to build on the
foundations already in place. The next step is to turn these plans into workable requirements which
reflect the different needs of schemes and administration providers. PASA accreditation already covers
around 6 million scheme memberships but these proposals will ensure that every member of every
scheme will benefit from new mandatory standards.
“Proportionate oversight should help identify problems early and support trustees in holding providers
to account. Implementation will need careful planning, with realistic timescales and recognition of the
capacity and skills needed to deliver change while maintaining day-to-day services to members.”
