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Code of Conduct on Administration Provider Transfers
As the professional body that creates and promotes pension administration standards, PASA has a duty of care to ensure that its members act consistently and with integrity when changing pension administration provider. Irrespective of the cause of the change, PASA believes that the transition should be managed in a professional manner between the providers to ensure the interests of the scheme and its scheme members remain paramount, the transfer is not unnecessarily delayed, frustrated or rendered ineffective and that service to members can be maintained. It is recognised that the majority of those engaged in pensions administration are committed to providing a good service to members, trustees and sponsoring employers and will act professionally in cooperating fully to ensure continuity of service.
The purpose of the Transfer Code of Practice is to set out a framework which, if followed, will enhance the transfer of services between providers, give clarity to all participants in relation to their responsibilities and accountabilities and mitigate the potential for delays.