PASA reaccreditation for high quality pension administration

Following a rigorous accreditation process, our Pensions Administration team have, for the second time, been awarded the PASA ‘gold standard’ for their continued high standards - effective for the next two years.

The Pensions Administration Standards Association (PASA) was established to promote and improve the quality of pensions administration services for UK pension schemes. Both The Pensions Regulator (TPR) and the Department for Work and Pensions (DWP), identify that good administration can be demonstrated by autonomous accreditation.

As an independent body aiming to drive up standards in pension administration, PASA has reaccredited Barnett Waddingham for our commitment to best practice. Attaining PASA accreditation is the gold standard for high-quality pension administration. Receiving this standard for the second time in a row is a positive reinforcement of the services we deliver and acts as a true seal of approval for our clients. We are one of just four companies to have achieved this prestigious reaccreditation.

PASA Accreditation was set up in 2012 to recognise organisations in our industry which have evidenced compliance with the PASA standards. Accreditation is an important aspect of PASA membership with many benefits, which include:

• Public recognition of operational quality and a commitment to continuous improvement
• Affiliation to a recognised and credible framework which secures the means to help trustees and clients discharge their fiduciary responsibilities
• Clear demonstration that administration service performance and capabilities are in line with those of the highest-quality organisations providing pension administration services
• A differentiator for the firm and clients in a competitive market
• The ability to build a high-performing pension administration team through the PASA framework and guidance

Paul Latimer, Partner and Head of Pension Administration at Barnett Waddingham, said: “Administration continues to climb the trustee agenda and, with lengthy and complex exercises like GMP reconciliation and rectification ongoing and GMP equalisation to come, instilling client confidence in the ongoing quality of overall service is of real importance to us. Achieving PASA reaccreditation allows us to communicate this in a tangible way and demonstrates our long-term commitment to innovation and delivering the best possible service to scheme members.

“With a team of 500 experienced administrators supporting over 380,000 members, across 400 pension schemes, this reaccreditation continues to fortify our position in the industry as one of the leading third-party administrators in the UK.”

For more information about PASA and the accreditation process, visit the PASA website