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TPR expects further DB endgame innovation amid strong funding levels


By Jack Gray

The Pensions Regulator (TPR) has said it wants to support innovation while ensuring appropriate risk levels, amid expectations of further defined benefit (DB) scheme endgame developments due to strong funding positions.

In a blog, TPR executive director of market oversight, Ben Gunnee, noted that insurer buyout was historically seen as the best way to pay promised benefits and act in members’ best interests


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Next Prime Minister should ‘confront’ triple lock while continuing progress on pensions reform

The next Prime Minister should address the sustainability challenge posed by the triple lock while continuing the progress made on wider pensions reform, industry figures have stated

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CDC schemes urged to build investment strategies around member outcomes

Collective defined contribution (CDC) pension schemes need an investment approach designed around member outcomes over time, rather than maximising returns, LCP has argued

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DB scheme trustees yet to assess impact of health innovations on future liabilities

Nearly nine in 10 (88 per cent) defined benefit (DB) pension trustees are yet to assess the potential impact of breakthrough health treatments on future scheme liabilities, research from Standard Life has found

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Almost 10% of under-30s opting out of AE as overall annual opt-outs reach 500,000

The number of people opting out of their auto-enrolment (AE) pension has reached 500,000 a year, analysis of Department for Work and Pensions (DWP) figures by Lubbock Fine Wealth Management has shown

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Scottish Widows moves LoA servicing to Origo’s Unipass LoA

Scottish Widows is set to move all its Letter of Authority (LoA) servicing through Origo’s Unipass LoA digital channel, becoming the first major UK provider to mandate a single digital channel for LoAs

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Gilt market reaction to Starmer resignation ‘relatively muted’ but uncertainty grows

The gilt market reaction to Keir Starmer’s resignation as Prime Minister has been relatively muted, although the prospect of a new leader and Chancellor have added a new layer of uncertainty, industry figures have stated

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ETS Connect UK launches bond market consolidated tape

Investors and market participants can now access a single, real-time source of pricing and trading activity across the UK bond market, following the launch of a bond consolidated tape by ETS Connect UK
FCA consults on due diligence standards for SIPPs

The Financial Conduct Authority (FCA) has published a consultation that outlines standards of due diligence for self-invested personal pensions (SIPPs)
Annuity demand from over-75s quadruples in two years

The proportion of annuity quotes for over-75s has more than quadrupled since 2024, alongside an increase in higher-value quotes over £1 million, Standard Life has reported
Employees confused about their pension as employers overestimate comms clarity

Over a third (37 per cent) of UK employees say their workplace pension was either not clearly explained or they do not remember the explanation, despite 89 per cent of employers feeling confident about explaining their scheme to workers, according to research by Penfold

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Pensions UK LA Conference 2026: LGPS valuations ‘more sophisticated than ever’

Local Government Pension Scheme (LGPS) valuations have become far more sophisticated and are no longer simply exercises for setting employer contribution rates, according to Worcestershire County Council head of financial planning and pension investments, Sherief Loutfy
Gilt markets 'relatively calm' as Burnham returns to parliament

The 10-year gilt yield rose slightly to 4.82 per cent following the news that Labour's Andy Burnham had won the Makerfield by-election, setting the stage for a potential leadership contest


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Highlighted Content

Modernising stability in an age of pension freedoms – free annuity guidance for People’s Pension members

The popularity of annuities took a nosedive following the introduction of pension freedoms in 2015.

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

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.

Three steps to smarter risk management for boards

David Burwell explores how boards can identify and manage the top risks facing their pension schemes

Creating value while navigating change

With so much change on the DC/master trust agenda, our panel of experts explores topics including default retirement solutions, private markets, targeted support and more

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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

The burden of choice

Callum Conway explores whether pension schemes should prioritise preserving member choice or designing better defaults as the industry grapples with disengagement, decumulation and increasingly complex retirement decisions

Self-employment and pension saving: Navigating the challenge

Greater policy attention is being given to the self employed retirement savings gap, but what is realistically needed to help close this?

Born in the USA

Sandra Haurant explores why, despite growing concerns over concentration risk, tariffs and AI-fuelled volatility, US equities remain an unavoidable cornerstone of UK pension investment strategies

A power struggle

At the end of April, the long-running dispute about including investment mandation powers in the Pension Schemes Bill was finally settled with a last-minute compromise, after the row had threatened to sink the whole Bill. But why did this proposal to compel investment in some UK assets unite most of the pensions industry in opposition to it – and is the issue now really resolved? David Adams reports

Taxing confidence

With upcoming tax changes set to reshape both pension contributions and inheritance, Paige Perrin examines how reforms to salary sacrifice and inheritance tax (IHT) could affect saving behaviour, potentially weakening incentives at a critical time for pension adequacy

Adapting to change

Pensions Policy Institute director, Chris Curry, sits down with Paige Perrin to discuss the organisations latest work, ongoing adequacy challenges and the future of the UK pension system

Behind the net-zero divide

A widening gap is emerging in UK pensions’ climate ambition. While the largest schemes push ahead with net-zero targets and delivery plans, smaller DB funds are struggling to keep pace. Is this down to limited resources and regulatory reach, or a deeper question of relevance as many schemes edge towards their endgame?

Which way to turn

As the number of endgame paths increases, Gill Wadsworth explores how those managing DB schemes are deciding which route to take

Small schemes, powerful voices

Francesca Fabrizi speaks with ShareAction CEO, Catherine Howarth, and Trustee Sustainability Working Group Chair, Bobby Riddaway, about how collaboration can empower even small pension schemes to drive meaningful corporate change

Shaping regulatory evolution

Financial Reporting Council executive director of regulatory codes and standards, Mark Babington, sits down with Paige Perrin to discuss the regulator’s current priorities, including its consultation on proposed changes to actuarial standards for CDC schemes and its ongoing work on the UK Stewardship Code

Rules and regulation roundup: What the FCA and TPR have on their plates

Callum Conway looks at how the FCA and TPR are moving from consultation to delivery, as targeted support, dashboards and the Pension Schemes Act drive a more outcome-focused, data-driven pensions system

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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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