Marvin OnumonuThe Pensions Administration Standards Association (PASA) has published new guidance on contingent spouse pension data and calculation methods.
The guidance from the data working group sets out a practical framework for schemes to assess, calculate and maintain CSP values, focusing on data quality and different calculation approaches.
It covers key data points, governance, and options for calculation to help schemes balance accuracy, cost and efficiency.
The guidance explains the importance of good data for insurer transactions, actuarial valuations, pensions dashboard readiness and day-to-day administration, as well as improving outcomes for members.
David Fairs, chair at the PASA, said: “High quality data sits at the heart of effective pension administration.
“This Guidance supports schemes in making informed, proportionate decisions on how contingent spouse benefits are calculated and maintained.
“By improving data quality and governance, schemes can enhance operational efficiency, strengthen readiness for transactions and deliver better outcomes for members and their dependants.”
Kristy Cotton, chair of the PASA Data Working Group, said: “Contingent spouse pension calculations can be complex, particularly where historical data is incomplete or inconsistent. This Guidance brings together practical experience from across the industry to help schemes navigate those challenges.
“It encourages a structured, transparent approach, enabling trustees and administrators to understand the trade-offs involved and implement solutions suited to their data and objectives.”
