Two industry-wide voluntary groups, which are dedicated to raising standards in occupational pensions in the UK, have today announced they will be joining forces.
Raising Standards of Pensions Administration (RSPA), which promotes the advancement of knowledge and best practice in pensions administration, and Raising Standards of Trustee Education (RSTE), which supports 'lay' pension trustees, have teamed up within a unified body.
Both organisations will continue to pursue their own aims and objectives, but will work closer together to promote their common ambition to raise the standards of workplace pensions.
"Raising Standards of Trustee Education and Raising Standards of Pensions Administration have very similar aims but so far we have engaged different audiences. RSTE has a good following in the Trustee community and we have a good following in the provider community. By working together we can make sure that our efforts reach the biggest possible audience and we make the biggest possible improvement across the industry." said John Reeve, chairman of RSPA.
"We have always admired and supported RSPA and we are delighted to be able to formally join forces," said Bob Campion, chair of RSTE. "We have ambitious plans for this year, and working with RSPA puts us in the best position to achieve our aims."
RSPA recently launched a General Statement of Administration Standards and an industry-wide survey of customer experience for pension scheme members. The survey is designed to give a benchmark of the views of members on the service they get from pensions administration service providers, whether in-house or outsourced, and can be issued free of charge by any pension scheme to its members.
RSTE members are working on three projects this year: to produce guidelines to help improve the communication between trustees and all their advisers and service providers; to provide guidance on how to improve the quality of trustee training; and finally to make information from all sources that is of practical, educational value to trustees freely available on its website.
"RSTE and RSPA are always looking for more volunteers to join," said Emma Watkins, deputy chair of RSTE. "We have a number of roles that are looking for volunteers, so please get in touch!"
Official Aims of the RSTE Campaign RSTE members