PASA welcomes Lothian Pension Fund and Allen & Overy
Lothian Pension Fund and Allen & Overy have joined the Pensions Administration Standards Association (PASA), taking its member representation to 11 million.
The Lothian Pension Fund is one of the largest in the UK with over 100 associated employers and over 65,000 members.
Allen & Overy has 530 partners while employing around 5,200 people. Counsel Helen Powell said "it was fantastic to be offered an honouree position by PASA" and hoped this would "encourage other companies to do the same."
PASA chairwoman Margaret Snowdon (pictured) commented: "We are very pleased to welcome both Allen & Overy and Lothian Pension Fund to our membership base and look forward to working with them.
"It is especially gratifying that in only five years since launch our reach is already a whopping 11 million - that is 11 million employees and pensioners who are benefiting from better administration and all that entails.
"This is a huge accomplishment and recognition both for us at PASA, demonstrating we remain at the forefront of driving up standards in the industry, but also for the industry because it shows that organisations are absolutely dedicated to delivering the best service possible."
This move will see the issue of guaranteed minimum pension (GMP) reconciliation come one step closer to being sorted out. Powell stressed the importance of sorting out the data problem with GMPs, saying "it is vital for lawyers and administrators to be on the same page and understand the guidelines."
PASA is focused on driving up standards in the industry and earlier this year announced revised standards and two tranches of GMP reconciliation guidance.
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