This wide-ranging paper on the topical issue of surplus release from DB pension schemes explores what constitutes a surplus, when releasing surplus may and may not be appropriate, the benefits and risks for members and employers, investment and governance issues, and the wider consequences for the DB pensions landscape.
The SPP very much supports the Bill and most of its broad aims from PPF levy flexibility and surplus release to the concept of default decumulation and improving Value for Money for DC schemes. However, we have made various suggestions as to how the Bill could be improved and we fundamentally oppose the the reserve power for government to mandate investment in private market assets.