THE SOCIETY of Pensions Consultants is launching a membership campaign aimed at boosting the numbers of corporate IFAs in the organisation.
The SPC says the recruitment drive is needed to reflect the increasing role played by corporate IFAs in pensions, particularly in the fast-growing DC space. SPC president Duncan Howorth says the organisation is the natural home for corporate IFAs, particularly when compared with other bodies, such as the NAPF, AIFA, ABI and Institute of Actuaries. The SPC says it can provide corporate IFAs with insight and representation into key policy debates and access to high quality technical information and comment. The body says the rise of DC pensions, the Retail Distribution Review and the implementation of the Nest timetable mean that pensions have risen to the forefront of the IFA agenda. The SPC recently called for greater consistency in charging around DC schemes and has also been vocal in criticising changes to higher rate tax relief. Howorth says: “More opportunities are opening up for IFAs in the corporate pensions market, which is a key focus for the SPC. As the representative body that addresses practical pensions issues on behalf of its members – which provide advice and services across all sectors of the industry – we recognise that IFAs are increasingly seeking to understand, contribute to and influence legislation and other developments affecting pension and related benefits provision. Given recent developments – in particular the implications on the profession of the RDR – we would welcome greater engagement from the large, diverse and influential IFA community. We have been focusing closely on pensions reform relating to DC and believe that IFAs have a vital role to play in this debate, so would urge them to contact us.
