PASA issues revised standards to market

The Pensions Administration Standards Association has today issued their revised standards to market, clarifying what administrators need to do to become PASA Acredited.

The new changes also aim to help make the initial stage of accreditation more straight forward.

PASA director Kim Gubler said there has been an upward trend in organisations seeking accreditation recently, which has been enhanced further by the latest guide to administration and the DC code of practice issued by The Pensions Regulator.

“Good governance requires that we continually assess how we are doing things and make sure the advice and guidance we are giving to market is current and appropriate,” she said.

“Our Administration Standards have been in place since 2012 and, just like the wider, evolving world of pensions, PASA doesn’t stand still.”

“One of the main things we have done is to clarify aspects of what administrators need to do to become PASA Accredited and we believe these revisions will make the initial stage of Accreditation more straightforward for those organisations wishing to achieve the PASA gold stamp.

“Ensuring the standards are delivering to the high level the industry expects remains our upmost aim, and we will continuously work to enhance and improve what we do. It is very encouraging to see continued emphasis on good quality administration being evidenced by TPR and the market at large.”

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