As the professional body that creates and promotes pension administration standards, PASA has a duty of care to ensure that its members are professional and ethical. The interests of pension scheme members, trustees, employers and society in general are best served where the industry exhibits the right behaviours. With this in mind, PASA has established a Professional and Ethical Code of Conduct (the Code). The Code applies to all PASA members, including the providers of pension administration services, ‘in house’ administration teams and those concerned with giving advice on pension administration.
The Code is designed to reflect good practice and to be a signpost for exemplary behaviour. It sets out a minimum threshold for PASA membership and provides confidence that members of PASA will behave responsibly by conducting themselves in a manner consistent with the good reputation of the pension administration profession and of PASA.
Importantly, the code contains a commitment to act on some of the most pressing issues facing the pensions administration industry: to work to stamp out pension liberation and other scams and to act responsibly in the transfer of administration services between providers.