Compensation is key to an inductive power transfer (IPT) system in terms of voltage transfer function and efficiency optimization. Basic compensation is simple, but not suitable, for the achievement of variable load-independent voltage-gains without changing the design of the loosely-coupled transformer (LCT). On the other hand, higher-order compensation circuits enable greater design freedom to achieve variable load-independent voltage-gains while keeping the LCT unchanged, but it requires a variety of compensation components, especially the inductive components, which incur significant copper and core losses. This paper proposes a comprehensive design of the series/series-parallel (S/SP) IPT system. The design methodology for variable load-independent voltage-gains is studied to keep the LCT unchanged and achieve zero phase angle input over the whole load range. Design consideration includes the effect of misalignment issue on the voltage-gain and, thus, a design criteria can be derived to ensure an acceptable sensitivity to the misalignment when taking efficiency optimization. The experimental results are presented for verification.