The SPP says the new name reflects the accounting firms, solicitors, insurance companies, investment houses, investment performance measurers, independent trustees, external pension administrators and UK pension funds that are its members as well as its original base of actuaries and consultants.
The SPP’s membership collectively employs some 15,000 people providing pension-related advice and services.
The body is also launching a new website at www.the-spp.co.uk. The new site includes new content and further information on the new brand.
SPP president Duncan Buchanan says: “The need for a coordinated approach from across the pensions industry to manage the scope and pace of change is critical to ensure the successful development of a workable system in the UK. To this end, as a Society, we have always prided ourselves on our ability to feed in objective views on developments given the broad church of our membership which is drawn from across the whole pension landscape. Our new brand better reflects this expertise and, in its first year, the society’s key priorities will be to work with Government, regulators and other industry bodies on the development and introduction of the tax changes to defined contribution plans and the guidance guarantee announced in the last Budget.
TPAS CEO Michelle Cracknell says: “During this period of huge pension reforms, it is vital that we have cooperation across different parts of the pensions industry, which we understand is part of the SPP’s agenda and the reason for the rebranding. The Pensions Advisory Service benefits from huge support by the industry, many of whom are SPP members. We believe that the success of the new guidance service being introduced by the Treasury will be if the industry works together in encouraging people to take up the opportunity and helping people implement the guidance.”
Shadow Minister for Pensions Gregg McClymont says: “I look forward to working alongside the Society of Pension Professionals in building a workplace pension system where every employee can be sure that the scheme into which they contribute delivers the best value for money possible.”