INTRODUCTION The Society is the representative body for a wide range of providers of advice and services to work-based pension schemes and to their sponsors. The Society’s Members’ profile is a key strength and includes accounting firms, solicitors, life offices, investment houses, investment performance measurers, consultants and actuaries, independent trustees and external pension administrators. The Society is the only body to focus on the whole range of pension related services across the private pensions sector and, through such a wide spread of providers of advice and services. We do not represent any particular type of provision or any one interested body or group. Many thousands of individuals and pension funds use the services of one or more of the Society’s Members, including the overwhelming majority of the 500 largest UK pension funds. The Society’s growing membership collectively employs some 15,000 people providing pension-related advice and services. AIMS The Society has three fundamental aims:-
- Influencing policy and strategy – to draw upon the knowledge and experience of Members so as to contribute to and influence legislation and other general developments affecting pension and related benefit provision. We are consulted by a broad range of policy forming and regulatory bodies.
- Member services – to provide Members with access to technical information and insight into the key policy debates in the industry.
- Industry profile – the Society helps raise the profile of all members and to help address practical industry issues on their behalf.
BENEFITS Benefits of Society membership include:
- sharing of information, discussion and debate on key industry developments
- regular technical updates and ability to share experience and other thoughts with industry practioners
- membership of sub – committees which drive input into policy debate
- attendance at events throughout the year including evening meetings, annual conference and roundtables
- access to other professionals for discussion on industry developments
SERVICES The Society works for its Members by providing: –
- access to information on current developments, through its newsletter, technical circulars and special information services.
- access to the views of fellow practitioners through evening speaker meetings in Edinburgh, Glasgow, Leeds, London and Manchester on current practical issues; its annual conference; roundtables for senior policy-making personnel and, on financial services regulation, through informal networks and regular specialist meetings.
- access to the Society’s specialist sub-committees on technical questions and concerns of general interest.
- a channel to and from legislators and regulators, through which the views of Members on existing and proposed rules and legislation are expressed. The Society maintains contact with a wide range of government departments and other groups, both in the UK and the rest of Europe, and makes a professional, practical and constructive contribution to discussion on the many complex issues in the field of benefit provision – both on broad policy questions and on more detailed technical matters.
The Society is a company limited by guarantee governed by a Council, which forms the company’s board. Council is elected by the Society’s Members.
Much of the Society’s work is carried out by specialist committees. There are committees dealing with actuarial matters, administration, European issues, financial services regulation, investment, money purchase pensions, pension scheme legislation, and public relations.
The membership of the committees reflects the multi-disciplinary make-up of the Society’s membership. The Actuarial Committee brings together actuaries and accountants on matters of common interest. The Administration Committee involves administrators from third party administrators, consultants and life offices. The Investment Committee embraces consultants, fund managers and performance measurers. The Legislation Committee comprises consultants, lawyers and life offices. The Money Purchase Committee links intermediaries, lawyers and providers.
All these bodies are serviced by a full-time permanent secretariat.
Membership is open to companies, partnerships and sole practitioners.
New Members are asked to complete an application form to assist the Society’s Council in assessing their application. Council will normally expect at least three consecutive years involvement in specific pension functions, embracing one or more of the following:-
- Accountancy Services
- Actuarial Services
- Administration Services
- Contract Based Pension Provider (including SIPP provider)
- Corporate Finance/Employer Covenant Advice
- Corporate IFA Services
- Education and Communication
- Employee Benefit Services (including one or more of corporate wrap, flexible benefits, voluntary benefits, healthcare, insurance products, design, communication and administration)
- General Pension Consultancy (including scheme design)
- Independent Trusteeship
- International Benefit Advice
- Investment Consulting and Implementation
- Investment/Fund Management
- Investment Performance Analysis
- Legal Services, including disputes
- Longevity Risk Solutions
- Pension Annuity Provision
- Pension and Financial Services PR Consultancy
- Pension Wind-up Services (including one or more of advice on and provision of buy-outs and buy-ins, advice on entry to PPF and advice on entry to FAS)
- Technology Services
- Trustee Secretarial and other Support Services
Membership subscriptions are based on the number of staff performing these functions.
In addition Council seeks details of authorisation under the Financial Services legislation, and of qualifications or experience of applicants’ staff.
If you are interested in becoming a Society member click here to e-mail us, for an information pack. Please include the address to where we should send it.
WHAT OUR MEMBERS SAY ABOUT US
- “We find the Society invaluable as a source of concise and up-to-date information”
- “The breadth of the membership means that the Society puts forward informed, non-partisan views on the major pensions and employee benefit issues”.
- “The Society is a remarkably open body. We find it easy to get involved and the Society submissions take account of our views”.
- “It is important that we have regular face to face contact with a wide variety of pension professionals. the Society’s meetings are an effective means of building contacts”.
Further information is available from the SPP Secretariat:
The Society of Pension Professionals, Quantum House, 22-24 Red Lion Court, London EC4A 3EB
TEL: 020-7353 1688
FAX: 020-7353 9296
A company limited by guarantee. Registered in England and Wales No. 3095982