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Pension Schemes Act reforms could encourage DC investment 'convergence'


By Callum Conway

The Pension Schemes Act 2026 has the potential to improve outcomes for defined contribution (DC) pension savers, but there are concerns that some of its reforms could encourage schemes to adopt increasingly similar investment strategies, according to XPS Group.

In a briefing on the implications of the new legislation, XPS said the act's scale requirements, Value for Money (VFM) Framework and new decumulation provisions provide greater clarity on the future direction of the UK pensions market, although significant details remain to be finalised through secondary legislation and consultation


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Milburn Report highlights growing retirement saving challenges for young people

A report authored by former Health Secretary, Alan Milburn, has highlighted the number of people aged 16-24 not in education, employment, or training (Neet), sparking concerns about the knock-on impact on saving for retirement

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Pension scheme design can cut years off first-time buyers’ journey

The design of workplace pension schemes can significantly influence how quickly young employees are able to buy their first home, according to new research from Hymans Robertson

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Young disabled people face £245,000 retirement savings gap

People disabled before entering the workforce could retire with pension savings more than £245,000 lower than their non-disabled peers, new research from PensionBee has found

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Nearly a third of pensioners worse off than before retirement

Almost a third (31 per cent) of retirees believe their living standards have dropped compared to pre-retirement, while only 20 per cent feel they have improved, analysis from Standard Life has shown

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News in brief - 29 May 2026

The latest news in brief and mandates from the past seven days

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Over 70 million pension records connected to dashboards ecosystem

More than 70 million pension records are now connected to the pensions dashboards ecosystem, according to the latest update from the Money and Pensions Service (Maps).

The figure represented around 85 per cent of records currently in scope for pensions dashboards, and includes nearly 1,500 pension providers and schemes that have completed connection, including the first four cohorts of medium-sized providers and schemes

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