What we do
The Standards Committee plays an important role in overseeing the PASA Standards process. The key functions we perform are:
- Ensuring the PASA Standards remain current
- Undertaking a formal review of the Standards not less than biennially, taking note of feedback from the Accreditation activity, and industry best practice
- Preparing examples of good practice for the use of members
In all these areas the committee is charged with ensuring the Standards have due regard to the different types of UK pension scheme.
Our principle achievements and ambitions
- We launched the PASA Standards in 2012, following extensive industry feedback
- We launched an error management consultation exercise in 2014, which is under review to produce guidelines for administration providers
- We formed a GMP workgroup in 2015 to deliver guidance on the GMP reconciliation activity
- We developed and strengthened the data standard in 2016
- We carried out the first full standards review in 2016
Our focus for the future includes looking to develop Guidance precedent documents for the standards to assist administrators in seeking accreditation. We will also evaluate how the standards can be deployed in different types of administration delivery and remain consistent.