pension


The SPP has two key concerns with this draft legislation – the proposed definition of “tax adviser” and therefore the scope of the legislation and the current omission of any exemption for pension professionals.

The SPP supports the concept of targeted support for pensions and believes it could play a part in improving savings decisions and preferences, reducing fees and charges, and increasing consumer confidence.

However, our response seeks to highlight potential barriers to success and areas of concern, making various suggestions for improvement.

The Diversity, Equity & Inclusion paper seeks to shine a light on neurodiversity in the pensions industry and features two articles detailing the thoughts of both Lynn Wassell, Chief Executive of national neurodiversity charity, The Donaldson Trust and Niraj Shah, Investment Analyst at LCP and a member of the SPP.

This SPP paper identifies what the Pensions Commission, recently revived to consider the question of pensions adequacy, should consider and why.

This includes defining “adequate”; identifying the under pensioned; better understanding the trade-off between adequate living and adequate saving; and improving public trust in and awareness of state provision. The paper also explores how disenfranchised groups could be better supported and calls for a long-term plan for increasing auto-enrolment contribution rates.

Amongst other productive finance issues, this response highlights that the SPP agrees that scale can deliver improved investment but that there are risks, which must be guarded against; that legislative change is necessary to better facilitate consolidation and that for the LGPS, asset pooling has been successful but there is more to do. Read on for further information...