Consultations & Publications Archives - The Society of Pension Professionals : The Society of Pension Professionals

The SPP’s response to the DWP discussion paper on key elements of the Scale Policy

The SPP welcomes the government’s ambition to harness scale for Defined Contribution (DC) pension schemes but our response to the DWP discussion paper on key elements of the Scale Policy, warns that an extended regulatory timeline risks creating paralysis in industry planning, stifling innovation, and compressing execution risk as the 2030 deadline approaches.

There are also various areas that require urgent regulatory clarity and greater flexibility, particularly regarding the definition of Common Investment Strategies (CIS) and the measurement of scheme scale.

Tags: 2030, Consolidation, DC, Defined Contribution, pension, Pension Schemes Act 2026, Pensions, Scale,

25/08/2026

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The SPP response to the DWP consultation “Surplus Flexibilities for Defined Benefit Pension Schemes: Unlocking Value for Employers and Scheme Members”

The SPP welcomes the DWP draft Regulations on surplus flexibilities for DB pension schemes as they provide an appropriate framework for well-funded schemes to release surplus while protecting members. However, we are calling for changes to make the regime more practical, particularly for schemes intending to remain on a long-term run-on basis. The proposed process is geared towards one-off payments and could make regular or phased distributions unnecessarily burdensome.

Tags: DB, DB Pensions, pension, Pensions, Surplus, Surplus Extraction, surplus release,

20/08/2026

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The SPP response to the DWP’s consultation on The Occupational and Personal Pension Schemes (General Levy) Regulations review 2026

While supporting the fundamental objective of putting the General Levy on a sustainable footing and ensuring regulatory bodies are properly resourced, our consultation response urges the Government to provide a clear, evidence-based justification for these “disproportionate” rises.

Tags: General Levy, pension, Pension Schemes, Pensions, Pensions Industry, Review,

17/08/2026

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The SPP response to the Ministry of Justice consultation, “A fairer end to relationships”

This SPP consultation response calls for family law reforms to protect pension rights in divorce and cohabitation.

Tags: Cohabitation, Divorce, family, pension, Pensions, Relationships,

12/08/2026

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The SPP response to Proposals to Amend the Occupational and Personal Pension Schemes (Conditions for Transfers) Regulations 2021

SPP welcomes plans for simpler pension transfers but warns they are
unlikely to work as intended in practice and so suggests a range of practical solutions.

Tags: legislation, pension, Pension Transfers, Pensions, Transfers,

16/07/2026

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The SPP response to draft GMP legislation

This SPP response urges HMRC to amend draft legislation designed to protect pension savers from unintended annual allowance tax charges following Guaranteed Minimum Pension (GMP) conversion.

Tags: administration, GMP, GMP conversion, legislation, pension, Pensions,

13/07/2026

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The SPP Response to the Pensions Commission’s Interim Report 2026

Structural deficiencies, soaring housing costs, and shifting work patterns mean millions of UK workers are heading towards an inadequate retirement unless the government enacts significant reforms.

To help solve the crisis, in this response, the SPP have outlined a series of bold interventions that policymakers should consider in order to dramatically boost pension saving and pull forgotten workers into the savings net.

Tags: adequacy, investment, pension, Pensions, Pensions Adequacy, pensions commission, Retirement Adequacy, Savings,

08/07/2026

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The SPP response to the Department for Business and Trade’s Call for Evidence on The Transfer of Undertakings (Protection of Employment) Regulations

This response sets out SPP's views on the operation of TUPE in relation to pension rights.

The SPP believes the current framework generally provides strong protection for employees while identifying a small number of areas where legislative clarification and simplification could improve outcomes for both employers and employees.

Tags: legislation, policy, SPP, UK pension schemes,

16/06/2026

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A Career in Pensions: Navigating the Early Years

This guide brings together practical insights to support pensions professionals navigating the early years of their career. It explores the key components of early career development in the pensions industry, from navigating professional exams and building both technical knowledge and soft skills, to establishing a strong professional reputation and managing progression.

Tags: careers, guidance, Pensions, profession,

11/06/2026

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The SPP response to the HMRC technical consultation on Inheritance Tax on pensions

This response to HMRC's technical consultation on the implementation of inheritance tax on pensions from April 2027, highlights a range of operational, legal and practical concerns that we believe must be addressed before the new regime is introduced.

Tags: HMRC, IHT, inheritance tax, Pensions, SPP, Tax, unused pension pots,

10/06/2026

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The SPP response to The Labour Party’s National Policy Forum Annual Consultation 2026

This consultation response sets out key considerations for the government’s 'Make Work Pay' plan. It emphasises that improving take-home pay should go hand in hand with strengthening long-term
financial security.

06/05/2026

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The SPP’s response to the FRC consultation on actuarial standards for CDC Pension Schemes

The SPP supports the overall direction of proposed changes to Technical Actuarial Standard 310 (TAS 310) covering actuarial work for collective defined contribution (CDC) pensions.

However, it is important that the standards remain principles-based and proportionate, allowing actuaries to exercise professional judgement while ensuring that key issues such as cross-subsidies, assumptions and scheme sustainability are clearly communicated.

Tags: actuarial, CDC, FRC, pension, Pensions, SPP,

20/03/2026

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