Why Common Declarations matter

In today’s fast-moving pensions landscape, the Common Declaration Standards are more than just a set of rules - they’re the foundation that enables millions of transfers to happen smoothly, securely, and consistently. Pension providers, administrators, and scheme operators rely on these standards to ensure that critical information is communicated clearly and reliably, and that consumer discharge of the transferring provider is captured robustly and unambiguously. 

Consistency that builds confidence

The true power of our Common Declarations lies in their ability to create a shared language across the industry. By providing agreed wording and data sets for key declarations, they remove ambiguity and reduce risk. This consistency means:

  • Faster transfers: advisers and clients benefit from predictable, streamlined processes.
  • Fewer errors: everyone knows exactly what’s required, reducing the chance of mistakes.
  • Greater trust: when everyone uses the same standards, confidence in the system grows.

Stability as a strength

This year, based on industry feedback, our Common Declaration Standards haven’t changed – a reflection of strength, maturity and reliability. Stability means:

  • No disruption to your processes.
  • No resource needed to implement changes.
  • More time to focus on improving outcomes, not adapting to new requirements.

As transfer volumes continue to rise, this reliability becomes even more critical. The standards are robust, to support rapid growth driven by new developments like Pensions Dashboards and the trend in savers consolidating multiple pots especially in preparation for decumulation.

Collaboration and continuous improvement

The Common Declarations Working Group (CCDWG) is the driving force behind these standards. The group is made up of all the organisations that use the Declarations, and their ongoing review and governance ensure that any changes are justified and agreed by the industry. The fact that no changes were needed this year is a testament to the quality of the standards and the effectiveness of collaboration.

But stability doesn’t mean we stop listening. The CCDWG welcomes feedback and ideas for improvement. Your insights help shape the future - whether it’s identifying inefficiencies or suggesting enhancements.

Get involved

If you’re not yet part of the conversation, now is the perfect time to engage. Membership is open to pension providers, schemes and administrators - by joining and sharing your experiences, you can help ensure that our Common Declarations continue to set the standard for reliability and efficiency in pension transfers.

Contact us at [email protected] to learn more or get involved.