In its response, the SPP explains that it supports the Government’s objective of reducing pension fragmentation and unnecessary administration through automatic consolidation. However, it highlights several areas where changes are needed to ensure the reforms work in savers’ interests.
Tags: Consolidation, DC, DC Pensions, pension, Pensions, Small Pot Consolidation, Small Pots,
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,