The Pensions Administration Standards Association (PASA) has provided a response to the Department for Work and Pensions' (DWP) consultation on extending Collective Defined Contribution (CDC) schemes to unconnected multiple employers. PASA supports the DWP's approach of utilising existing frameworks where possible, including parallels with the DC Master Trust regime. The response highlights key considerations for the proposed regulations, including the need for clarity on trustee duties, administrative challenges, and the importance of consistent terminology. PASA emphasises the need for clear guidelines on scheme sections, viability reports, actuarial equivalence tests, and benefit adjustments. The association also raises concerns about potential conflicts between scheme proprietors and trustees, as well as the practical implications of marketing restrictions.

The Pensions Administration Standards Association (PASA) has responded to the Financial Conduct Authority's (FCA) Value for Money Framework (VFM) consultation. While the PASA supports the intent of the VFM framework, it states a simplified approach, focusing on 10-12 key data points, would be more impactful, easier to report on, and pave the way for a more efficient and effective framework. PASA's consultation response includes detailed questions and answers regarding the framework.

The Pensions Administration Standards Association (PASA) has responded to HMRC’s May 2026 consultation on the draft Registered Pension Schemes (Provision of Information) Regulations 2026, which support the introduction of inheritance tax (IHT) changes for pension death benefits. PASA’s response considered the practical implications for pension scheme administrators (PSAs) and the operational framework required to deliver timely, accurate and consistent outcomes for members and beneficiaries. It identified several areas of concern: (1) the operational risk posed by the proposed April 2027 implementation timeline; (2) uncertainty around the Prospective Personal Representative (PPR) validation and liability framework; (3) the absence of a clearly defined lawful basis for certain data disclosures and a mechanism for withholding information in exceptional safeguarding circumstances (4) limited flexibility in the withholding notice framework—which permits withholding of up to 50% of benefits for up to 15 months—where illiquid assets are held; (5) the cumulative impact of multiple overlapping deadlines, including 28-day valuation requests and 14-day notice acknowledgements; (6) inconsistency between the draft regulations, technical note and supporting process materials and (7) the introduction of a quarterly Event 25 reporting cycle for death in service payments, which departs from existing annual and event-driven reporting frameworks. PASA recommends that HMRC issue near-final guidance well in advance of April 2027 and publish a joint statement with the Information Commissioner’s Office confirming the lawful basis for disclosures.

The Pensions Administration Standards Association (PASA) has responded to HM Revenue and Customs (HMRC) technical consultation on Inheritance Tax (IHT) for pensions. PASA argues that the new approach introduces unnecessary complexity and imposes inequitable burdens on Pension Scheme Administrators (PSAs). PASA contends that the suggested proposals could lead to unfavourable results for savers and their beneficiaries due to heightened operational and financial effects. Key issues highlighted in PASA’s response include inadequate consideration of PSA requirements, unrealistic timescales, disproportionate administrative and financial burdens, and potential negative impacts on savers and beneficiaries. PASA recommends the following:

The Pensions Administration Standards Association (PASA) has responded to the Pensions Regulator’s consultation on the draft collective defined contribution (CDC) Code of Practice. The draft CDC Code updates and extends the existing CDC Code that applies to single and connected-employer CDC schemes to cover the authorisation and supervision of unconnected multi-employer schemes providing CDC benefits.

The Pensions Administration Standards Association (PASA) has responded to the FCA’s consultation on targeted support for pension savers, welcoming the initiative but highlighting challenges for occupational schemes. Given that occupational schemes lie outside FCA regulation it makes segmentation complex. PASA stresses the need for tailored segmentation. It urges the FCA to acknowledge scheme diversity and avoid retail-based assumptions, while continuing collaboration with the Department for Work and Pensions. PASA also stresses that schemes may not hold the same data as FCA regulated providers, limiting their ability to deliver targeted support without disproportionate effort, and recommends a flexible framework that reflects operational realities. It also cautions against the risk of misleading guidance for consumers with hybrid pension schemes where defined benefit elements are significant, as guidance that overlooks them can be misleading for savers. PASA also calls for clear boundaries between ‘guidance’, ‘regulated advice’ and any new support strand to avoid regulatory risk. While supporting the development of proportionate and accessible decision-making tools, PASA emphasises the importance of clarity, confidence and collaboration with industry bodies to co-design practical solutions that are actionable and easy to understand, particularly for savers with limited financial literacy.

The Pensions Administration Standards Association (PASA) has called for greater clarity on the administration of member surplus payments in response to the Department for Work and Pensions’ consultation on the proposed new defined benefit (DB) surplus regime. Although PASA does not expect the arrangements for employer surplus payments to create significant operational concerns, it says schemes may need to administer deferred member entitlements for many years before payment can be made.

The Pensions Administration Standards Association (PASA) has published updated guidance on master transitions. Originally published in 2019, the guidance has been updated to take into account developments that have taken place in the years since publication. The process and relevant consideration have remained largely the same, focusing on the two most common scenarios: master trust to master trust and single employer trust to master trust. The guidance covers areas such as planning the transition, communication, data and asset transition and industry developments.

The Pensions Administration Standards Association (PASA) has published its response to the Financial Conduct Authority’s (FCA) consultation on Retirement Collective Defined Contribution (RCDC) schemes. It supports extending Collective Defined Contribution (CDC) solutions to retirement-phase arrangements and highlights their potential to deliver improved outcomes for savers auto-enrolled into DC schemes.

On 8 July 2026, the Pensions Administration Standards Association (PASA) Defined Contribution (DC) Working Group published an article examining the operational changes required for schemes to comply with the guided retirement duty introduced by the Pension Schemes Act 2026. The article highlights the importance of involving scheme administration staff early in the design of default decumulation solutions because schemes do not currently have the administrative infrastructure to effectively deliver guided retirement.

People Against Wylfa B, see NGO (note that Wylfa B is now known as Wylfa Newydd).

The Pay As You Earn (PAYE) system relies on an array of reporting requirements, forms and compliance. Employers are required to report employee remuneration on both a monthly and an annual basis. In addition there are various in-year reporting requirements, such as for joiners, leavers and the provision of certain benefits. Real time information (RTI) has applied to all employers and pension providers since October 2013. It replaced many of the previous rules associated with PAYE reporting and compliance. This Practice Note provides an overview of the main compliance requirements associated with PAYE, and explains how these have been affected by RTI. RTI reporting Historically, the PAYE system posed a problem (for HMRC, and potentially for taxpayers too) in that HMRC did not know how much should have been collected from employees under PAYE until after the end of the relevant tax year. This was because employers only had to tell HMRC once per year (on form P35) how much they had paid to employees through their payroll. This form was submitted to HMRC after the year was