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This SPP paper “Pensions in a Digital World: Embedding Inclusion”, makes a compelling case for the pensions industry to ensure that digital transformation works for every saver, not just those who are digitally confident.
- 15/09/2026
The SPP welcomes proposals from the Pension Protection Fund (PPF) to update the assumptions used for valuations under sections 143 and 179 of the Pensions Act 2004.
However, we have highlighted concerns about the wider implications of changes to the section 179 framework, particularly the introduction of post-retirement increases on eligible pre-1997 PPF compensation. These changes could significantly increase section 179 liabilities and, in turn, lead to substantially higher levies for commercial consolidators, without any corresponding increase in underlying financial risk or reduction in member security.
- 14/09/2026
The SPP has confirmed it supports the Value for Money (VfM) framework proposals and its phased implementation, welcoming measures to ease the initial burden on schemes and providers.
However, the SPP is calling for greater clarity on the framework’s scope, particularly for AVCs, hybrid schemes, single employer trusts and future coverage of non-workplace, decumulation and collective defined contribution (CDC) arrangements.
Tags: Investments, Pensions, Savings, value for money, VfM,
- 11/09/2026
The SPP concludes that contingent assets should not be regarded as second-best substitutes for cash. Properly structured, they can allow trustees and sponsors to share risk more intelligently, combining member protection with sponsor flexibility and commercially sustainable outcomes.
Tags: Accounting, Contingent Assets, covenant, DB Pensions, Funding Code, pension, Pensions, Tax,
- 08/09/2026
The SPP welcomes the proposed introduction of Authorised Member Surplus Payments (AMSPs) but is concerned that restricting payments to members who have reached normal minimum pension age (NMPA) could significantly limit the usefulness of the new provision and create unnecessary administrative and communications challenges.
- 07/09/2026
The SPP supports the FCA's ambition to improve protections for SIPP members and strengthen confidence in the market. However, we emphasise the importance of the final framework remaining proportionate and targeted at areas of genuine risk.
- 26/08/26
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
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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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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