The SPP highlights the potential for unintended consequences for pension professionals and recommends exempting certain pensions work form the proposed new regime.
A comprehensive analysis of government proposals for a Lifetime Provider Model - a single pension pot for life.
The SPP strongly supports the ambition to deliver a Pensions Dashboard but there is a risk to its success if the information consumers are presented with on first usage is limited and if they are provided with little to support their decision-making beyond signposting.
A brief examination of the Government’s planned pension reforms relating to British investments and plans to require Defined Contribution (DC) pension funds to disclose their levels of investment in British businesses, as well as their costs and net investment returns, by 2027.
The SPP broadly welcomes these proposals because of the additional flexibility that they will provide but there is a risk that they could lead to circumstances where schemes enter the PPF when they could otherwise have secured a higher benefit in the market.
The SPP welcomes the desire to make returning surpluses to employers easier for those that wish to but the proposals are not without risk; we have serious reservations about the implementation of a 100% underpin from the Pension Protection Fund (PPF); and whilst a public sector consolidator has many potential benefits, the precise rationale for such a consolidator remains unclear.