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Govt to update trustee and administration standards in preparation for megafunds


By Callum Conway

The government has announced plans to strengthen pension trustee competency requirements, tighten master trust regulations and introduce mandatory minimum standards for administrators, as the industry prepares for the emergence of megafunds.

The proposals aim to ensure governance and regulatory oversight keep pace with the consolidation of pension schemes into larger arrangements managing 10s of billions of pounds in retirement savings


Story 2

Gender pensions gap narrows but two-thirds of women still face retirement shortfall

The gender pensions gap has fallen to £3,800 from £6,000 in 2025, although almost two-thirds (65 per cent) of women remain on track for a minimum retirement standard or worse, research from Scottish Widows has revealed

Story 3

Schemes urged to review member communications ahead of pension/IHT changes

Trustees and pension managers should use next year’s changes to the treatment of pensions under inheritance tax (IHT) as an opportunity to review member communications and reduce confusion around death benefits, LCP has argued

Story 4

DB scheme surplus dips in October as bond yields fall

The aggregate surplus of defined benefit (DB) schemes in the UK decreased by £5.3bn during October to £275.4bn due to a fall in bond yields, according to the latest update from the Pension Protection Fund (PPF)

Story 5

Ocean-related risks could hit pension assets, liabilities and contributions

Ocean-related risks have the potential to threaten retirement incomes by affecting pension scheme assets, liabilities and contribution levels, according to a report from the Institute and Faculty of Actuaries (IFoA), the University of Exeter, and The Ocean Race

Story 6

Two thirds unaware of pension/IHT changes

Almost two thirds (64 per cent) of UK adults are unaware that unused pension pots will become subject to inheritance tax (IHT) from April 2027, research commissioned by Mattioli Woods has shown

Story 7

Climate change could cut pension funds' long-term returns by up to 30%

A temperature increase of 2°C to 3°C could reduce long-term pension fund returns by roughly 10 to 30 per cent relative to current expectations, according to analysis by Ortec Finance

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Over-55s lacking knowledge of expected retirement income

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Chesnara agrees to acquire closed life company from MetLife Group

Chesnara has agreed a deal to acquire MetLife UK (MLUK), the insurer's closed-book UK life insurance company
Higher interest rates boost pension funding and annuity prospects; inflation risks remain

The Bank of England's decision to raise interest rates to 4 per cent could provide a boost to defined benefit (DB) pension scheme funding levels and annuity incomes, although industry experts have warned that persistent inflation and market volatility remain significant risks for retirement savers


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A new route to retirement

Paige Perrin sits down with First Bus head of pensions, Muntazir Hadadi, to discuss the company’s decision to separate its DC scheme from its legacy DB scheme, the barriers to this process and the possibility of moving to an alternative pension arrangement in the future

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Pensions Age Editor-in-Chief, Francesca Fabrizi, joins Nuveen Real Assets Head of Strategic Insights, Abigail Dean, to explore the role real assets can potentially play in pension fund portfolios

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