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'Bold action' needed in upcoming pension adequacy review, govt told


By Sophie Smith

The government has been urged to take “bold action” in its upcoming pension adequacy review, with particular calls for the government to implement the 2017 auto-enrolment review recommendations and build a consensus on what adequacy means.

Industry experts have been sharing their hopes for the review following reports that Chancellor, Rachel Reeves, is expected to announce the launch of the second phase of the pensions review, focusing on pensions adequacy, at her Mansion House speech later this month


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Exclusive: Govt and PDP reiterate commitment to private sector dashboards

Pensions Minister, Torsten Bell, has reiterated the government's commitment to private sector pensions dashboards, with industry polling revealing that the majority of professionals involved with the dashboards process are considering private sector dashboard opportunities

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DB funding levels remain strong in June

The combined IAS19 funding level for the defined benefit (DB) UK pension schemes of FTSE100 companies remained "strong" at over £50bn, with a funding level of around 118 per cent funding level at the end of June, LCP's latest Pensions Explorer has revealed

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Govt urged to require greater transparency on employer pension contributions

The government should amend the Pension Schemes Bill to introduce mandatory disclosure of employer pension contributions on all job adverts, the Social Market Foundation (SMF) has argued

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Master trust consolidation continues; own-trusts still delivering 'exceptional value'

The proportion of schemes with over £1bn now in master trusts has increased to 40 per cent, matching the number of own-trust schemes at this scale for the first time, research from Barnet Waddingham (BW) has revealed

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Kingston Council to review pension investments over human rights concerns in Palestine and globally

The Kingston Council has committed to reviewing all its pension fund investments to identify any holdings in companies allegedly complicit in international law and human rights violations in Palestine and across the world

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BoE governor says mandating pension investments is ‘not appropriate’

The government's proposed power to influence investment decisions within defined contribution (DC) pension schemes, outlined in the Pension Schemes Bill, has faced renewed scrutiny after Bank of England governor, Andrew Bailey, cautioned that such an intervention would not be "appropriate” and require “a lot of heavy lifting"

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‘Overwhelmed’ savers resoundingly back targeted support despite practical challenges.

'Anxious and overwhelmed' savers resoundingly back the concept of targeted support despite fears over data consistency and a lack of trust in the industry, a report from the Standard Life Centre for the Future of Retirement has revealed
State pension connects to dashboards ecosystem

Pensions Minister, Torsten Bell, has confirmed that the state pension has now successfully completed its connection to the pensions dashboards ecosystem, joining the "hundreds" of pension providers and schemes with more than 20 million pension records that are now available through the dashboards ecosystem.

Pensions Dashboards Programme (PDP) programme director, Kim Webb, also highlighted broader industry progress on pensions dashboards, confirming that eight volunteer participants (VPs) have now completed the connection process
OBR figures prompt calls for govt to review state pension uprating and adequacy

The Office for Budget Responsibility's (OBR) forecast that the triple lock will cost £15.5bn annually by 2029-30, three times higher than initially expected, has intensified calls for the government to conduct a formal review of state pension uprating and its adequacy
Targeted support a ‘positive step’ amid rise of ‘unregulated finfluencers’

The Financial Conduct Authority's (FCA) proposed targeted support regime is a 'positive step' towards closing the planning and advice gap, amid the rise of 'unregulated finfluencers,' according to a survey by Nucleus

Calls for industry to 'urgently' modernise admin infrastructures

Pension schemes, third-party administrators and insurers should “urgently” modernise their admin infrastructure, Mantle has said, after a freedom of information request found a 33 per cent year-on-year increase in the number of complaints submitted to The Pensions Ombudsman (TPO)
DB pension transfer redress remains ‘historically low’ as CMCs pivot to other areas of ‘secret commission’

Compensation for a typical defined benefit (DB) pension transfer redress case continued to fall through Q1 2025, as a result of financial conditions softening and rates rising,
Broadstone's DB redress tracker has revealed


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Shifting gears

As the pensions landscape consolidates and evolves, Paige Perrin examines how The Pensions Regulator is adapting its role by shifting toward a more ‘prudential’ style of regulation. But what does this mean for the industry, and how is it reshaping relationships between the regulators, pension schemes, and trustees?

Finally on target?

Callum Conway looks at why the freedom and choice reforms failed to close the pensions advice gap, and how targeted support might offer the solution

Getting to grips with the pension ethnicity gap

Pension engagement among non-white savers is still lagging, posing challenging questions for the industry to answer. As part of Pensions Age’s year-long focus on diversity, equity and inclusion (DEI), Jon Yarker finds out more

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Getting entangled in sustainable investing red tape

UK pension schemes have a unique role to play in driving sustainable impact, but complex rules are slowing momentum

Eyes on the prize

Regulators and policymakers continue to consult on whether DC schemes provide value

for money to members. But is there a risk their good intentions will be overwhelmed by other

political priorities? David Adams reports

Thinking differently

As part of Pensions Age’s year-long special focus on diversity, equity and inclusion (DEI),

Laura Blows explores neurodiversity and the pensions workplace

The best laid plans?

The government has confirmed that it will share a pension reform roadmap, but exactly what should be at the top of this list? Sophie Smith reports

Building a buy-in

Skipton group pensions manager, Andy Cheetham, pulls back the curtain on the pension scheme’s recent journey to a full buy-in

From data to delivery

Pensions Age sits down with Pension Administration Standards Association (PASA) chair, David Fairs, to discuss his newly appointed role and to find out how the association is raising administration standards and tackling data and dashboards challenges head-on

Trump’s tariffs spark a closer look at Europe

Sandra Haurant considers how Trump’s tariffs may have shifted investor attitudes towards the

European equities market

Inherited problems

The government’s plans to include pensions in the scope of inheritance tax has generated concern about how its rules can be feasibly implemented within the pensions industry. Laura Blows finds out more

Turning back time

DB schemes are currently enjoying funding surpluses, but haven’t we been here before? Laura Blows considers the changes and challenges that have occurred since the previous era of DB surplus in the 1980s/1990s, and the lessons to be learnt from that time

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A changing DC market
In our latest Pensions Age video interview, Aon DC senior partner and head of DC consulting, Ben Roe, speaks to Laura Blows about the latest changes and challenges within the DC sector

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Gavin Lewis, Head of UK and Ireland Institutional at BlackRock, talks to Francesca Fabrizi about the BlackRock 2024 UK Read on Retirement report, 'Ready or not. How are we feeling about retirement?’

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Podcast: Who matters most in pensions?
In the latest Pensions Age podcast, Francesca Fabrizi speaks to Capita Pension Solutions global practice leader & chief revenue officer, Stuart Heatley, about who matters most in pensions and how to best meet their needs
Podcast: A look at asset-backed securities
Royal London Asset Management head of ABS, Jeremy Deacon, chats about asset-backed securities (ABS) in our latest Pensions Age podcast

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