XPS Group responded to the DWP's discussion paper on key elements of scale policy.

XPS Group is a leading UK consulting and administration business specialising in the pensions and insurance sectors. A FTSE 250 company, XPS combines expertise and insight with advanced technology and analytics to address the needs of over 1,300 pension schemes and their sponsoring employers on an ongoing and project basis. We undertake pensions administration for over one million members and provide advisory services to schemes and corporate sponsors in respect of schemes of all sizes, including 83 with assets over £1bn. We also provide wider ranging support to insurance companies in the life and bulk annuities sector. In 2026, XPS won four awards at the UK Pensions Awards: Fiduciary Evaluator of the Year, Run-on Provider/Adviser of the Year, Sponsor Covenant/IRM Adviser of the Year, and Third-Party Administrator of the Year. Previous wins at UK Pension Awards: 2025: Sponsor Covenant/IRM Adviser of the Year 2024: Actuarial/Pensions Consultancy of the Year and Sponsor Covenant/IRM Adviser of the Year 2023: Third-Party Administrator of the Year and Fiduciary Evaluator of the Year 2022: Actuarial/Pensions Consultancy of the Year, Investment Consultancy of the Year and Third-Party Administrator of the Year 2021: Third-Party Administrator of the Year and Investment Consultancy of the Year 2020: Third-Party Administrator of the Year 2019: Actuarial/Pensions Consultancy of the Year and Third-Party Administrator of the Year In 2026, we were recognised for our business culture in The Times Top 50 Employers for Gender Equality. XPS was also awarded Race Equality Champion (Large Company) and Employee Voice Award (Large Company) at the 2026 FT Adviser Workplace Excellence Awards. In 2024, we won Best Diversity, Equality and Inclusion initiative at the UK Company Culture Awards and were awarded the Diversity and Inclusion Excellence Award at the UK Pensions Awards. In 2024. XPS was recognised as a Disability Confident Employer.