RSPA launches standards for pensions administrators

Raising Standards of Pensions Administration (RSPA) has launched its General Statement of Administration Standards to guide people responsible for administering a scheme.

The document advises trustees and administrators on how they should work together to ensure the best possible service is provided to members.

There are six guiding principles detailed and a checklist that trustees or advisors can use to assess compliance with the standard.

John Reeve, actuary and senior consultant at Premier Pensions Management and chairman of RSPA, said: “This is a very important step in improving the level of service in our industry. For the first time we have a statement of what people need to do to deliver a good service to members.”

The RSPA is now looking for suppliers and buyers to commit to adhering to the standard. It will list those that do on its website.