PASA releases briefing note on GMP reconciliation transition

The PASA GMP Working Group today published a briefing note on how to treat GMP reconciliation data during transition to a new administration provider.

The PASA Code of Conduct on Administration Provider Transfers sets out clear guidance to ensure the transition of administration between providers is managed in a professional manner, focusing on the best interests of members and trustees. Administration providers are increasingly asked to undertake projects as part of the services they provide and in recent years this has included GMP reconciliation and rectification projects. This briefing note addresses how these additional projects should be managed to ensure accuracy, value and collaboration for all parties.

Geraldine Brassett, Chair of the PASA GMP Working Group, commented: “GMP reconciliations have been worked on for some time, and it’s imperative the workings, decisions and documentation surrounding the project are safely passed across to a new administration provider. Records which need to be handed across include:

  • An audit trail covering any changes to data
  • Information which allows calculations to be recreated in future if required
  • A log of trustee decisions, or confirmation of where this information is recorded

“It is acknowledged this may require discussion around Intellectual Property, which should form part of drafting and agreeing the scheme’s Exit Agreement.”

The briefing note ‘GMP Reconciliation Transition’ can be found here.


About the Author

Lucy Collett