The Pensions Administration Standards Association (PASA) has been created to provide an independent infrastructure which will set, develop, guide and assess administration standards.PASA will act as a focal point and engage with industry and government to create protocols for understanding good administration - but also appreciates there is no one size that fits all. PASA will develop evidential accreditation practices which will allow benchmarking across and between the industry regardless of how the administration is being delivered. As well as raising the profile of pension administration generally, PASA will focus on three core activities.1. Defining good standards of pensions administration relevant to all providers, whether in-house, third party or insurers2. Publishing guidance to support those standards3. Being an independent accreditation body, assessing the achievement of good standards by schemes (regardless of provider)There is no organisation providing such services across schemes, yet there is a demand for evidence of service quality from scheme trustees, sponsors, administrators, insurers, scheme members and regulators.
The PMI is the professional body which supports and develops the experts who run UK pension schemes. It has the broadest skills base of pensions professionals and trustees in the UK, with some 6,500 members dedicated to establishing, maintaining and advancing the highest levels of pensions knowledge. PMI members are responsible for managing and advising some of the largest institutions in the world and taking key decisions on substantial financial matters. With some £1 trillion invested in UK pensions, PMI members have a vital role to play in shaping the nation’s financial future. With almost 40 years of successful operation behind it, the PMI is an organisation at the cutting edge of pensions.
For full details of PMI’s qualifications, membership grades and ongoing support services visit www.pensions-pmi.org.uk
The SPP is the representative body for a wide range of providers of advice and services to work-based pension schemes and to their sponsors. The SPP’s Members’ profile is a key strength and includes accounting firms, solicitors, insurance companies, investment houses, investment performance measurers, consultants and actuaries, independent trustees and external pension administrators.
The SPP is the only body to focus on the whole range of pension related services across the private pensions sector and, through such a wide spread of providers of advice and services. It does not represent any particular type of provision or any one interested body or group. Many thousands of individuals and pension funds use the services of one or more of SPP’s Members, including the overwhelming majority of the 500 largest UK pension funds. SPP’s growing membership collectively employs some 15,000 people providing pension-related advice and services