Helping members run their schemes, December 2024 Update

If you ever need an example of what the PLSA does ‘behind the scenes’ on your behalf, then an event in the House of Commons this week surely is it. The case in point is the pensions ‘teach-in’ that my colleague Katy Little, who heads our parliamentary work, has arranged for members of the newly constituted Work and Pensions Select Committee.

Together with our Chair, Emma Douglas, our new Director of Policy, Zoe Alexander, and colleagues from some of our members, Katy will lead a two-hour session to get these key MPs up to speed on the basics of how pension schemes operate. Given the influence this Select Committee has, it will be time very well spent.

Meanwhile, the rest of our Policy team has been equally busy responding to the pensions announcements in the Chancellor’s Mansion House Speech. You might have read the 'PolicyWatch Special' that the team put out the following day. Or you might have clocked the joint letter that we co-ordinated from a group of pension funds to the Chancellor on the Mansion House proposals. Or you might have taken part in one of the roundtables the team organised with groups of DC schemes and LGPS funds to get our members’ initial reactions or responded to our member survey. Or dialled into our last Policy Insights Webinar on the Budget and Pensions Review. Busy times, as I say!

Speaking of webinars, we have more coming up – a '2025 look ahead' to the issues that schemes will need to tackle next year (5 December) and one focussing (in response to ‘popular demand’) on the Budget decision to bring pensions into Inheritance Tax (10 December, with HMRC speaking – their first public outing on this since the Budget). A special ‘shout out’, by the way, to my colleague Olivia Sizeland, who is planning to represent our members at no fewer than six HMRC workshops on Inheritance Tax. Good luck with that, Olivia!

All these are examples of what the PLSA does on your behalf. And speaking of ‘member value’, it is that time of year to renew your PLSA membership; our main contact at your scheme will receive the invoice this week. Please let me know, of course, if you have any questions about your membership ([email protected]).

Additionally, there is still time to participate in our Mansion House survey before it closes at the end of the day on Tuesday 3 December. Share your views by completing our DC reforms survey on the Government's proposed reforms to build scale in the DC market.

Most importantly, thank you for your continued support for all the work the PLSA does on your behalf.