Designing & Implementing a Pensions Administration Strategy (PAS)
A Pensions Administration Strategy (PAS) is a critical tool for ensuring that timely and accurate data is being received from your scheme employers and that there is a robust administration process in place to manage it.
LPP can work with you and your scheme employers to design and implement an effective PAS relevant to your scheme’s requirements.
Having an effective PAS in place can provide a number of benefits for your scheme, including:
- Enhancing the service you provided to members, which will be borne out by improved service targets being met.
- Enabling your scheme to recover any additional administration charges that arise as a result of having to undertake extra work for an employer.
LPFA, a shareholder fund of LPP, has had an effective PAS in place for over six years and it has delivered significant measurable service benefits to scheme employers and members alike and also cost savings in scheme administration.