Trustee-administrator engagement guidance responds to admin pressures
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The Pensions Administration Standards Association has published new guidance on trustee-administrator relationships. The first instalment explores why these relationships matter. PASA is set to follow this up with three further publications and an in-person industry discussion.
Administration is “where governance becomes reality”, the organisation said, reminding trustees of their legal duty to pay the right person the right amount, at the right time.
The guidance on trustee-administrator relationships will set the context for the series which responds to increasing regulatory expectations and operational complexity, PASA noted.
The next three publications will look at: appointing a new administrator and preparing for market review; managing installation and transition; and building, measuring and maintaining an effective partnership, including practical oversight tools and case studies.
Paul Couchman, who chairs the PASA trustee and administrator engagement focus group, said: “This series supports earlier, better ifnormed conversations and provides a structured approach across the full lifecycle of the relationship. In a demanding environment of major projects and limited resource, collaborative partnership is essential.”
PASA chair David Fairs added: “Administration sits at the heart of member outcomes and trustee accountability. Strong engagement between trustees and administrators supports resilience, transparency and confidence across the pensions system.”
Administration is “where governance becomes reality”, the organisation said, reminding trustees of their legal duty to pay the right person the right amount, at the right time.
The guidance on trustee-administrator relationships will set the context for the series which responds to increasing regulatory expectations and operational complexity, PASA noted.
The next three publications will look at: appointing a new administrator and preparing for market review; managing installation and transition; and building, measuring and maintaining an effective partnership, including practical oversight tools and case studies.
Paul Couchman, who chairs the PASA trustee and administrator engagement focus group, said: “This series supports earlier, better ifnormed conversations and provides a structured approach across the full lifecycle of the relationship. In a demanding environment of major projects and limited resource, collaborative partnership is essential.”
PASA chair David Fairs added: “Administration sits at the heart of member outcomes and trustee accountability. Strong engagement between trustees and administrators supports resilience, transparency and confidence across the pensions system.”
