Beginner's Guides

The SPP is pleased to provide a series of short introductions to and explanations of key pension concepts, processes and terminology.

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Beginner's Guide to Significant Legal Cases

Discover the impact on the pensions industry of key legal decisions, including:

Edge vs Pensions Ombudsman
The Courage case
Barber vs Guardian Royal Exchange
Lloyds Banking Group Pensions Trustees v Lloyds Bank PLC
Cowan vs Scargill

Thank you to Sarah Hickling (Baker McKenzie LLP) and Gaurav Srivastava (Travers Smith LLP) for putting this resource together.

Beginner's Guide to Risk Transfer

Learn what Risk Transfer is and why it is so important
Explore the most common options for de-risking, including buy-in, buy-out, longevity swaps and superfunds
Examine the differences between buy-in and buy-out
Discover why buy-ins and buy-outs are becoming more popular
Explore the main stages of preparing a scheme for and executing a buy-in and buy-out, and the key stakeholders at each point in the process

Thank you to Beatrice Male (Royal London), Rachel Hirst (Lane, Clark and Peacock) and Tom Hill (Barnett Waddingham LLP) for putting this resource together.

Beginner's Guide to Pensions Tax Relief

Understand what tax relief is provided on pension savings in the UK and why
Explore how pensions tax relief is restricted
Learn how the system of allowances has changed since 2006
Explore the outlook for the future – are we likely to see further changes to pensions tax relief?

Thank you to Steve Hitchiner (Barnett Waddingham LLP) and Harriet Burchett (Eversheds Sutherland) for putting this resource together.

Beginner's Guide to Covenant

Understand how covenant is assessed, including key metrics
Explore what determines a stronger or weaker covenant
Learn what covenant assessments can include
Explore how covenant advisory integrates with actuarial and investment advice
Discoer the proprtionality of reviewing covenant, and how this may change over the journey plan of the scheme
Explore the impact of the new funding code on covenant guidance

Thank you to Peter Hughes (Travers Smith LLP) and Jay Holley (Lane, Clark and Peacock) for putting this resource together.

Beginner's Guide to Public Sector Pensions

Understand the key features of public sector pensions
Explore the difference between funded and unfunded public sector pensions
Learn how public sector pensions are similar and different to private sector pensions
Discover what the future may hold for public sector pensions

Thank you to Kirsty McLean (Squire Patton Boggs) and Jay Holley (Lane, Clark and Peacock) for putting this resource together.

Beginner's Guide to DB Valuations

Understand what a DB valuation is
Learn about the current legal framework around DB valuations
Understand the importance of knowing the value of a DB scheme
Explore the different types of DB valuations
Understand the processes involved in conducting a DB valuation

Thank you to Katie Bromley (Mercer Limited) and Tom Hill (Barnett Waddingham LLP) for putting this resource together.

Beginner's Guide to CDC

Understand what CDC pension schemes are, and the different types of CDC schemes in operation
Explore how CDC is similar to, and differs from, DB and DC pension schemes
Learn about the opportunities and challenges of CDC

Thank you to Edd Collins (Willis Towers Watson) and Jay Holley (Lane, Clark and Peacock) for putting this resource together.

Beginner's Guide to DC Default Funds

Understand how a DC Default Fund is constructed
Explore the similarities and differences between different DC Default Funds
Find out the circumstances where a DC Default Fund may or may not be the best option for a member
Explore the relationship between DC Default Funds and productive finance and sustainable investment
Discover what the future may hold for DC Default Funds

Thank you to Olivia Kennedy (State Street Global Advisors) and Andrei Patemkin (Aon) for putting this resource together.

Beginner's Guide to Pensions

Find out more about the various types of pensions that are available in the UK
Discover the ky features of workplace, private and state pensions
Understand the differences between trust and contract-based pensions
Discover who regulates which pension schemes and how
Better understand how different regulators overlap and work together to regulate UK pensions

Thank you to Jen Green (Eversheds Sutherland), Brian McBride (M&G) and Gaurav Srivastava (Travers Smith LLP) for putting this resource together.

Beginner's Guide to Pensions Legislation

Explore the journey of public policy from initial consultation to Royal Assent
Learn about the various types of legislation
Understand what makes Finance Bills unique
Find out what the ‘pre-election period’ is and what it means in practice

Thank you to Faye Jarvis (Macfarlanes), Pete Cottingham (M&G) and Harriet Burchett (Eversheds Sutherland) for putting this resource together.