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Pension providers back £1bn UK Scale-up Fund to support British innovation


By Callum Conway

A consortium of major UK pension providers has committed to exploring the establishment of a new UK Scale-up Fund worth more than £1bn to invest in high-growth British science and technology companies.

The proposed vehicle would seek to increase the supply of domestic growth capital and give pension scheme members greater access to potential returns from successful UK businesses


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New Chancellor urged to commit to ‘pension tax lock’ to avoid withdrawal spike

The new Chancellor, John Healey, has been encouraged to commit to pension tax stability ahead of the Budget to avoid a repeat of people withdrawing money from their pensions in response to speculation

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Completing buy-in should be viewed as ‘milestone not finish line’

Completing a buy-in should be viewed as a “milestone rather than a finish line”, with trustees needing to plan carefully for the operational and governance work that follows, Cartwright Pension Trusts has said

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Similar service offerings mask pension administration capability gaps

Pension administration providers offer increasingly similar core services, but significant differences in pricing, operational resilience and capacity mean headline comparisons tell only part of the story, KGC Associates has warned

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Stronger retirement outcomes and member experience seen as biggest attraction of CDC

The biggest attraction of collective defined contribution (CDC) pension schemes is their potential to improve retirement outcomes and the member experience without increasing employers’ pension spending, according to LCP

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Almost three-quarters of savers unaware pensions could face IHT from 2027

Almost three-quarters (74 per cent) of pension savers are unaware that unused pension funds could become subject to inheritance tax (IHT) from April 2027, research from Penfold has revealed

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Ontario Teachers’ Pension Plan to invest up to €200m in M&G’s CLO platform

Ontario Teachers’ Pension Plan has agreed a joint venture with M&G Investments to support the scaling of its European collateralised loan obligation (CLO) platform

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Bell vows to ‘finish the job’ on pensions reform following reappointment

Pensions Minister, Torsten Bell, has pledged to “finish the job” on the government’s pensions reform agenda following his reappointment to the role
Pension scam warning flags remain at 97% as transfer activity rises

The proportion of pension transfers raising at least one scam warning flag remained at 97 per cent in June 2026, as transfer activity reached its highest level in a year, according to XPS Group
Miller Insurance pension scheme completes £100m ‘BPA Plus’ deal with M&G

The Miller Retirement Benefits Scheme has completed a £100m bulk purchase annuity (BPA) transaction through M&G’s ‘BPA Plus’ proposition
Retirees cashing in pots over £100,000 pay £87m in tax in six months

Retirees cashing in pension pots worth £100,000 or more paid at least £87.2m in tax over six months, analysis of Financial Conduct Authority (FCA) data by Standard Life has shown

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Consumers delay seeking pension advice despite retirement aspirations

People are waiting until after they reach middle age before seeking pension advice, despite the majority aspiring to retire aged 65, according to the Iress Financial Readiness Index (FRI)
News in brief – 24 July 2026

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


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Highlighted Content

A clearer path to private markets

Attendees explored how private markets would be a key evolution in the coming years and the important factors to consider when building an allocation.

Reforms focus: A changing landscape

Smart UK chief executive, Jamie Fiveash, shares more about Smart Pension surpassing £10 billion in assets under management (AUM) and how this is much more than just a number

Investment governance: Striving for excellence

What are the investment governance challenges for small schemes? Are today’s operating models fit-for-purpose? Where does AI fit into the governance framework? These are just some of the questions our governance panel addresses this month

Rothesay publishes its latest edition of "The journey to buy-out: The evolving endgame"

This year’s edition covers current topics exploring how the BPA market is evolving and driving innovation, as well as how the market is adapting to the needs of schemes of all sizes.

Tech for a new world

From dashboards and targeted support, to transfers and tracing, our panel considers the technological challenges and opportunities that will define the future of pensions

Pensions Age Northern Conference: Meeting the challenges of a new pensions world

The new Pension Schemes Act, the push towards megafunds, the role of private markets,

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Fewer hands, greater power

Consolidation is reshaping UK pensions, concentrating power among fewer trustees and driving a shift towards a more professional, large-scale governance culture. But alongside the benefits, it also raises important questions around accountability, diversity, and whether member voices risk getting lost

Economic abuse: Targeting pension savings

Laura Blows explores how pensions can be weaponised in economic abuse, along with the industry’s duties when such abuse is suspected

International Influence

Paige Perrin explores which countries influence the UK pensions system, what lessons can be adopted, and where regulatory and cultural differences limit direct comparison

Clearing a path

Attempts by legislators and regulators to improve the UK’s pensions system add to its complexity and may also create new problems. David Adams reports on some of the most significant gaps and contradictions in an ever-more complex system

Reforms focus: A changing landscape

Smart UK chief executive, Jamie Fiveash, shares more about Smart Pension surpassing £10 billion in assets under management (AUM) and how this is much more than just a number. Fiveash also discusses the changes occurring in the DC industry, including reforming the DC transfer framework, delivering true value for money, and resolving the small pots problem

Focused on the future

Paige Perrin sits down with Avon Pension Fund head of fund, Nick Dixon, to discuss the fund’s priorities, how it is using its surplus, and progress towards its climate targets

A new chapter

Society of Pension Professionals (SPP) president, Calum Cooper, sits down with Paige Perrin to discuss his recent appointment as SPP president, priorities for his tenure and the challenges facing the pensions system

A mid-life (pensions) crisis

Callum Conway explores why Gen X has become a key focus for the Pensions Commission, as the cohort approaches retirement caught between the decline of DB provision and the late arrival of auto-enrolment

IPOs blasting off

Sandra Haurant considers how the SpaceX record-breaking IPO will impact indices, and in turn, pension funds’ passive investments

Beyond the back office

Pensions administration has typically been seen as a back-office function. However, Paige Perrin investigates how this perception is changing as administration plays a increasingly crucial role in major strategic initiatives

The right balance

With systematic challenges ahead for the state pension, how do policymakers improve fiscal sustainability without sacrificing simplicity and retirement security?

The right connection

Targeted support currently only falls under the Financial Conduct Authority’s remit with DC schemes. Paige Perrin investigates if there could be space to explore expanding the regime to The Pensions Regulator’s jurisdiction of DB schemes and beyond

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CDC in the UK pensions market
Pensions Age editor, Laura Blows, talks to Sophie Dapin, Director, Institutional Solutions EMEA at BlackRock, and host of BlackRock’s Rewiring Retirement podcast, about the growing interest in collective DC in the UK pensions market

Podcast: From pension pot to flexible income for life
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

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