To be a Scheme Administrator it is necessary to be deemed a 'Fit and proper' person or company. With every Scheme we help clients establish HMRC will check that we continue to achieve this high degree of professionalism. Our HMRC Scheme Administrator reference is A0135907
Whilst many pensions in the UK are regulated by the Financial Conduct Authority, it is The Pensions Regulator (TPR) that is the Governmental body that regulates Occupational Pension Schemes. TPR are the lead agency driving up standards in Trustee Competency, Scheme Governance and combating Pension Liberation Fraud.
When someone has tried to resolve a problem with their pension provider and they are not satisfied with the outcome, they can ask The Pensions Ombudsman Service for help. POS are an independent organisation set up by law to investigate complaints about pension administration. POS look at the facts without taking sides and have legal powers to make decisions that are final, binding and enforceable in court. The POS service is free.
The Association is a combination of two former associations from the self administered industry, the Association of Pensioneer Trustees (APT) and the SIPP Providers Group (SPG). It was agreed to combine the two associations following the introduction of the Simplification and Taxation of Pension Schemes. The Committee is drawn from all walks of the self administered industry and includes pensions consultants, actuaries, lawyers and insurance company representatives. The aim of the Association is to be the principal body and voice for changes too be discussed for all Government Departments who are involved in this very important area of pension planning. As the pre-eminent industry representative body of the self-administered pensions industry the Association promotes the best practices of the industry.