A dispensing pump includes a polymer compression spring assembly. The dispensing pump includes a pump base, and a dispensing head having a piston stem. The polymer compression spring assembly includes a slotted tubular spring element and first and second loading cones received at opposing ends of the slotted tubular spring element. The first loading cone is fixed relative to the pump base while the second loading cone is axially movable with the piston stem and dispensing head. The tubular spring element is disposed coaxially about the piston stem between the cones. When the dispensing head is compressed, the loading cones axially compress toward each other whereby the slotted tubular spring element radially expands to create an opposing contraction force, and in turn, an axial extension force. When released, the spring element elastically contracts to its at rest shape, returning the loading cones and dispensing head to their at rest positions.