Pensions - Articles - PASA announces revised standards

 Kim Gubler, Director at PASA and Chair of the Standards and Accreditation committee* commented: “There has been an upward trend in organisations seeking accreditation recently, enhanced further by the latest Guide to Administration, issued alongside the DC Code of Practice no. 13 by The Pensions regulator (TPR) within which schemes are urged to seek to work with advisers that have independent voluntary accreditation from organisations such as PASA. **

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

 “The Standards and Accreditation subcommittee reviewed each of the Standards to assess whether experience and the range of changes we’ve undergone over the last four years has impacted the practical application of the Standards themselves. 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. We then worked in partnership with our Accreditation Auditor, RSM, to ensure all changes remain workable and relevant.

 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.”

 The full refreshed Standards can be found on the PASA website