ORIGINS

The SME Pension Consultation Group was spontaneously formed after the second triennium radically shifted the advantage to a minority of big scheme sponsors at the expense of the vast majority of small schemes and their sponsors. Our formation was prompted by huge hikes (sometimes near 400%) in a year in the Pension Protection Fund Levy and was particularly focused on the PPF.

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We are formally recognised by the DWP, DWP Select Committees, TPR and the PPF and have three places on the PPF’s SME Forum to which we regularly contribute. We have made submissions to each of these and our thinking has been published by the FT and elsewhere.

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We have campaigned with some success on matters such as the PPF’s 50% cap on levies for ‘small schemes’ with actuarial deficits below £50m, spreading payments of levies to help sponsors with seasonal cashflows, the PPF’s move back from Experian to Dunn and Bradstreet, an increase in risk score bands to reduce cliff edges between each and Liability-Driven Investment inter alia.