PASA - Pensions Administration Standards Association CIC

PASA is pleased to annouce that Brightwell and Isio have successfully completed the annual certification process for continued accreditation for another year. Congratulations!

PASA announces Procentia - Pensions Software Solutions as Expert Partner for Digital Admin The Pensions Administration Standards Association (PASA), the independent body committed to improving pensions administration standards, has appointed Procentia as its Expert Partner for Digital Admin. This appointment underscores PASA’s ongoing commitment to pioneering excellence in digital transformation within the pensions industry. PASA Chair, Kim Gubler, remarked: “Driving the digital admin journey to define best practice is one of PASA's key strategic objectives. As demand for digital functionality continues to rise across the pensions industry, it’s vital our Expert Partner is able to lead this charge with us – Procentia is ideally positioned for this. They bring not only deep technical expertise but also an understanding of the industry’s diverse needs. Procentia’s involvement will be critical in ensuring we develop best practices to cater for the needs of all stakeholders, including those who may be less digitally engaged.” Liam McGrath, Group Chief Executive Officer at Procentia, who will chair the Working Group: “We’re thrilled to join PASA as their Digital Admin Expert Partner. We’ve been designing ‘PenTech’ solutions to help schemes and insurers provide lasting value for their administrators and members for over twenty years. This is an opportunity to use our expertise, insight and research to lead the group and the administration sector through a digital transformation journey. We’re excited to build on the progress already made and demonstrate how digital administration can drive the industry and individual schemes forward, improving engagement, efficiency, and outcomes for savers.” https://lnkd.in/eR9dkpXu

PASA Chair, Kim Gubler, joined a panel at the FT Adviser Financial Advice Forum yesterday, discussing the work needed to help the next waves of pensioners than simply bringing in the long-awaited dashboard: https://lnkd.in/e9yAz7Di

PASA Chair, Kim Gubler, joined the first panel for Bravura Solutions 'Dashboard Week' this morning. Catch the recording here as the panel discuss understanding the voice of the customer. https://lnkd.in/eE-NsjNp

PDP has confirmed GOV. UK One Login is the identity service provider for pensions dashboards. Read more: https://ow.ly/Biaw50TpSY4 #pensionsdashboards #pensions #identityservice #news

PASA is delighted to see today’s release of The Pensions Regulator’s pensions dashboards compliance and enforcement policy.  We recognise the principles underlying the policy demonstrate a sensible and pragmatic approach to protecting pensions savers, while understanding the new challenges dashboards bring to schemes and their administrators. Clarity on TPR’s approach in this space delivers a key step forward in schemes, supported by their advisers, being able to prioritise and ultimately meet their dashboards duties. Using clear examples of non-compliance, how this is managed by schemes and reported to and actioned by TPR, the policy crystallises some of the significant challenges facing our industry in delivery of dashboards. The non-compliance examples include areas already covered by PASA guidance, such as matching, values data and connection readiness. Now TPR’s position is clear we can extend our Guidance further in areas such as the treatment of AVCs. This is another key milestone in preparation for what will soon become the single largest channel shift in connecting people with their retirement savings in the history of UK pensions. Kim Gubler Maurice Titley Andrew Lowe https://lnkd.in/eJhDKagd.

Three years ago PASA hosted GMPe week. With many still on their GMPe journey, here's are links to the webinars: Comms Guidance: https://lnkd.in/gKGBqnWx Transfer payments: https://lnkd.in/gvBZgxK7 Administration and Anti-franking Guidance: https://lnkd.in/gYZCAHnH Implementation: https://lnkd.in/gmKq6dCt Conversion and what it means for you: https://lnkd.in/gAiTnqiH

Love this commentary on the PASA NMPA Guidance from Broadstone. The changes will be here before we know it - time to get prepared!

Quick reminder to review the PASA - Pensions Administration Standards Association CIC response to the HMRC Consultation - raising standards in the tax advice market from earlier this year. Very relevant points and an interesting read.

PASA releases Guidance on preparing for the change to NMPA PASA today published Guidance on preparing for the change to Normal Minimum Pension Age (NMPA) ahead of the increase to age 57 from 6 April 2028. Mark Ormston, Chair of the PASA Industry Policy Committee, commented: “Although the increase on NMPA is three and a half years away, trustees and administrators should take action now to prepare for the change and ensure people with a PPA are treated fairly. This Guidance is designed to support trustees and administrators to: ·       identify scheme members with a Pension Protected Age (PPA) who will be impacted by the change in NMPA ·       deal with transferred in PPAs ·       understand how these changes differ to the last NMPA increase in 2010 ·       provide a checklist of actions which should be taken now to prepare for the new legislation We do expect further ‘transitional regulations’ from the Government to address minor consistencies. PASA will keep a watching brief on this and update the Guidance as new information becomes available.” The new PASA Guidance ‘Preparing for the change to NMPA’, can be found here - https://lnkd.in/ga64NtPR   PASA thanks the members of the Industry Policy Committee and their employers.