PASA welcomes the updated administration guidance issued today by The Pensions Regulator (TPR) and the stronger focus it brings to the essential role of high-quality administration in delivering good saver outcomes. We’re particularly pleased the guidance explicitly references three areas of PASA’s work, underscoring our contribution to raising standards across the industry.
TPR highlights schemes ‘may wish to engage with the data management plan guidance from the Pensions Administration Standards Association (PASA),’ recognising our practical framework for developing and maintaining a robust, long-term data strategy.
The guidance also encourages schemes to ‘engage with the Code of Conduct on Administration Provider Transfers from the Pensions Administration Standards Association (PASA),’ reinforcing PASA’s role in defining good practice for the safe and orderly transfer of administration services.
Finally, TPR advises trustees to ‘establish whether your administrator(s) have obtained independent voluntary accreditation, such as the accreditation standard offered by the Pensions Administration Standards Association (PASA).’ This clear endorsement demonstrates the importance of independent assurance in evaluating the quality, governance and resilience of administration services. PASA accreditation should be an important indicator in the appointment of administrators going forward.
David Fairs, PASA Chair, said: “We welcome TPR’s new guidance and are delighted to see PASA’s work referenced so clearly. Strong administration is fundamental to delivering good outcomes for savers, and trustees now have clearer expectations and practical tools to support them. PASA’s guidance on data, our Transfer Code and our accreditation framework give schemes the structure and independent assurance they need to meet these standards. We encourage all trustees to review the new guidance, assess their arrangements and consider PASA accreditation as a key factor when appointing or overseeing their administrators. This is an important moment for the industry, administration is now recognised as the strategic priority it should have always been.”
