The pensions industry must collectively work together to improve administration standards, the Pensions Administration Standards Association has said.

Speaking at PASA’s first annual event on Monday 27 February, PASA executive director Fergus Clarke said that while the Association is making “good progress” in improving administration standards in the industry, more must be done.

Clarke explained that full responsibility for paying the correct benefits to members must not be attributed to administrators alone.

“We are all accountable, but there is a worrying lack of engagement from many. Coming together is the only way we can make a difference to what’s going on in our industry,” he stated.

Also speaking at the conference, The Pensions Regulator board director Andrew Warwick-Thompson also shared the same view.

“Our focus and regulatory remit is on ensuring that trustees engage with their scheme administration as a priority issue. Industry groups like PASA are hugely helpful to us in driving good practice from within the administration industry itself, complementing our efforts to raise standards,” Warwick-Thompson said.

The event along with its continual activity worked towards its aim of being the “key influencer and foremost advocate of improving pensions administration standards and member experience”.

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