Week ending 12 July 2019
Good practice guide to DB transfers
PASA has launched part one of a DB transfers guide designed to cover straightforward cases. Part two covering more complex cases is due out towards the end of 2019. The guide is voluntary and designed to improve the overall member experience, improve efficiency for administrators and improve communications and transparency in the DB transfer process. The guidance includes templates for scheme and member information to improve the quality of information available.
The guidance sets out maximum expected timescales for different types of cases and best practice processes to follow for each type of case.
Professional trustee accreditation delayed
The Association of Professional Pension Trustees’ new accreditation framework which was due to start in the summer is reportedly delayed and is now expected by the end of the year instead. The framework requires trustees to have a certain level of qualifications, comply with a ‘fit and proper’ test, provide industry references, complete TPR’s toolkit and complete a soft skills test. 25 hours of continuing professional development will be required to maintain the accreditation.