As pension administrators we are surrounded by compliance and audit standards, legislation and disclosure requirements, data and calculations, processes and procedures. Our dedicated Pensions Delivery team is committed to delivering a high quality administration service to our clients and a first class experience for their members. We also work continuously to better our standards.
Our company has grown significantly over the last few years and our Pensions Delivery team has evolved and expanded to meet the challenges of advancements in technology, greater industry recognition of the importance of pension administration, and latterly the events of 2020.
Administration is at the forefront for pension schemes; poor administration can lead to not only negative member experience and outcomes but have a significant impact on the running of a scheme.
Gaining accreditation from the Pensions Administration Standards Association (PASA) seemed an ideal way for us to seek independent validation of our processes and give our team the recognition we felt they deserved. PASA accreditation also demonstrates to our clients and their members that our people, processes and policies are of the highest standards within the pensions industry.
This was one of the most important accreditation and audit process we have undertaken in recent times – and one of the most demanding. It is no tick-box exercise. PASA accreditation uses outcome-based standards focused on pension administration best practice. There is no self-certification here – a rigorous, external, independent review took place to ensure our standards are up to scratch and deliver what they say they will. As one of the lead members of the team involved in the accreditation process, I can attest to this – no stone was left unturned!
This was more than just demonstrating good member service. It covered areas such as client contracts, reporting, member feedback, complaint and error handling, our culture, staff development, succession planning and business continuity plans.
We are immensely proud to be awarded PASA accreditation; it is testament to the great service we provide to our clients and their members and to the work of our Pensions Delivery team who make this happen.