All Pensions Administration Standards Association (PASA) articles – Page 5
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OpinionSelf-driving pensions are worth our consideration
Artificial intelligence and other technologies are developing at breakneck speed, and many have pensions applications. It is time to explore the best practice in relation to these emerging technologies, says the Pensions Administration Standards Association’s Girish Menezes.
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FeaturesHounslow drops Capita and heads for West Yorks
The £991m London Borough of Hounslow Pension Fund will enter into an administrative partnership with the West Yorkshire Pension Fund following the imminent conclusion of its contract with third-party administrator Capita.
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OpinionTo improve admin we need solutions, not resolutions
When high-profile cases expose bad practice, we wonder how on earth it has been allowed to happen and, rightly, we resolve to improve it.
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FeaturesBritish Coal members raise Capita admin concerns
The £9.4bn British Coal Staff Superannuation Scheme has had to calm member concerns at its 2017 annual meeting over its decision to appoint Capita as its administrator last year.
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News
PASA selects members for Transfers Working Group
The Pensions Administration Standards Association has today announced the 23 members of its new Transfers Working Group, which aims to look closely at defined benefit transfer delays.
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OpinionSchemes need not fear dashboard compulsion
The dashboard has received a recent boost, with responsibility for the project transferring to the Department for Work and Pensions and the pensions minister stating his enthusiastic commitment.
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NewsBritish Steel saga raises questions on advice market and transfers
News analysis: Steelworker Rich Caddy has regrets about his choice to transfer out of the British Steel Pension Scheme.
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OpinionAre we making enough progress on transparency?
Transparency has become a buzzword in the industry, but we don’t always mean the same thing when we talk about it.
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News
Large scheme admin transitions show need for careful planning
Administration system transitions can be risky, but this has not stopped one of the industry’s largest taking place next month, while other schemes are outsourcing their services in an increasingly competitive environment for in-house teams.
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Opinion
When money meets religion: Sharia compliant pensions in the UK
Islamic finance is a fascinating and challenging domain. The industry’s assets were valued at $2tn (£1.5tn) globally at the end of 2016, according to S&P Global Ratings.
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News
FCA sounds alarm over unsuitable DB transfer advice
Fewer than half of defined benefit transfer advice processes are “suitable”, according to analysis by the Financial Conduct Authority, raising concerns over the lack of communication between introducing companies and transfer specialists.
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OpinionHow to get your scheme dashboard ready
Now is the time for schemes to start focusing on data quality to prepare for the pension dashboard, says Geraldine Brassett from the Pensions Administration Standards Association.
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OpinionAdmin transitions: Avoid the sting in the tail
Pension trustees should negotiate exit fees even if they are happy with their current administration provider, advises Joe Anderson from administration company Trafalgar House.
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OpinionHow have the freedoms changed pensions administration?
Tracy Weller from the Pensions Administration Standards Authority explores the effect that freedom and choice has had on schemes and administrators.
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News'Patchwork quilt' of solutions threatens drive for transparency
Regulators and consumer groups have been warned against installing a “patchwork quilt” of solutions to increase transparency in asset management, as remedies to hidden charges within funds begin to emerge.
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News
New DC code of practice: Greater clarity, but niggles remain
The Pensions Regulator this week published its new defined contribution code of practice, clarifying its position on a number of issues, but experts still had questions about its criteria for assessing value for scheme members.
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Opinion
Value for trustee money?
Editorial: The new defined contribution code that came into force this week is, by and large, being welcomed by the pensions industry, which lauded the focus on legal advice (Sackers), as well as its emphasis on administration (PASA) and security of assets (Working Party on DC Governance).
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News
DWP launches online tracing site as demand booms
The Department for Work and Pensions has launched a new website for the government's pension tracing service, as the number of people seeking their deferred pots has ballooned over the past decade.
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OpinionScams: What trustees can do to avoid members becoming victims
Trustees are, in fact, indirect victims of scams, so action to protect members is more often than not action that also helps themselves.
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News
PASA guidance urges schemes to prioritise GMP
The Pensions Administration Standards Association has issued guidance on guaranteed minimum pension reconciliation to help schemes through the process, as experts predict huge volumes rushing to complete in the coming months.