Society of Pension Professionals

Measure will make it easier for trustees and employers to agree surplus extraction

CPI-linked protections capped at 2.5% a year and will come into effect in January 2027

Measure will come into force from April 2029

Smart acquires WS Stakeholder scheme, XPS DB funding analysis, TPTIM signs up first external FM client

Paper covers risk of releasing surplus, conflicts of interest and funding levels

Industry positive but says more detail needed in a number of areas

Reports say chancellor has also decided against cutting pension lump-sum withdrawals

Society says scrapping salary sacrifice would lead to reduction in employees’ take home pay

Jeremy Goodwin says mandation would ‘drive a coach and horses’ through the prudent person principle

L&G surpasses £200bn in DC assets, Aviva DC private markets strategy and DB schemes urged to consider ‘purposeful pause’