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We must ‘add winds to the sails' of consolidation - Pensions Minister

By Callum Conway

3/2/26

The government is sending a “clear steer” that the UK pensions industry needs to be made up of “bigger and better” schemes, according to Pensions Minister, Torsten Bell.

Speaking at the Association of British Insurers (ABI) Annual Conference, Bell said that while consolidation was already underway in the defined contribution (DC) market, current trends would still leave the UK with “a very large number of players”, potentially limiting schemes’ ability to deliver better outcomes for savers

ABI sets out pensions reform and productive investment priorities in new three-year strategy

The Association of British Insurers (ABI) has set out plans aiming to shape pensions reform, unlock productive investment, and strengthen trust in the long-term savings and insurance sector as part of its new strategy for 2026 to 2028

People at risk of poor decisions amid lack of understanding of retirement options

Adults in the UK are at risk of making poor financial decisions amid a lack of understanding of retirement options, research from Hargreaves Lansdown has shown

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FCA urged to focus on 'proportionate and practical measures' in VfM changes

The Financial Conduct Authority’s (FCA) latest consultation on the value for money (VfM) framework must focus on proportionate and practical measures if it is to genuinely improve member outcomes, according to LCP

Just a third of schemes using fiduciary management have independent oversight

Only one in three UK pension schemes using fiduciary management have formal, independent oversight in place, despite regulatory expectations, a study from XPS Group has revealed

Clear communication key as member confidence falters during buyout

Clear, simple communication before and after buyout is critical to maintaining member confidence, despite generally high trust in defined benefit (DB) pensions, according to research from Standard Life

Macmillan pension scheme completes buyout with Aviva

The Macmillan Cancer Support Pension Scheme has completed a full member buyout with Aviva

Majority of fiduciary managers using AI but ‘not to its full potential’

Fiduciary managers are yet to deploy artificial intelligence (AI) to its full potential, despite 85 per cent using the technology, research from Isio has found

Royal Star & Garter pension scheme secures £16m buy-in with Just

The Royal Star & Garter Home for Disabled Ex-Service Men and Women Pension Scheme has completed a £16m buy-in with Just Group, securing the benefits of 251 members

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Highlighted Content

Trustees Guide 2026

We cover many key issues to help Trustees navigate a complex environment in 2026

DC structures under the spotlight

Clare Freeman highlights the importance of reviewing established DC structures – whether its own trust, GPP or master trust – to improve governance, implement cost eﬃciencies and ultimately enhance member outcomes

Two steps forward, one step back

From reflections on the Budget, to considerations for future scheme design, our panel of experts reflects on the DC and master trust world of today and into the future

De-risking Guide 2025: Choosing the right path

The highlights, milestones and movements that defined the 2025 BPA space

What questions will define 2026?

Investments and markets leaders at BNY tackle six essential questions for the year ahead.

Going private: The asset class gathering pace

As the Mansion House Compact and Accord take hold, UK pension schemes are stepping up allocations to private markets. Sandra Haurant reports

Latest Podcasts

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

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

The role of CDC

In the latest Pensions Age podcast, Laura Blows speaks to TPT Retirement Solutions Chief Client Strategy Officer, Andy O’Regan, about the role of collective DC (CDC) within the UK pensions space

Keeping on track

In the latest Pensions Age podcast, Sophie Smith talks to Pensions Dashboards Programme (PDP) principal, Chris Curry, about the latest pensions dashboards developments, and the work still needed to stay on track

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Check out our latest appointments

Appointments update – 3 February 2026

Local Pensions Partnership Investments (LPPI) has appointed Roelie van Wijk as a non-executive director, effective 1 April 2026

Appointments update – 2 February 2026

Dalriada Trustees has appointed Rosy Anand as head of defined contribution (DC) trusteeship

Appointments update – 29 January 2026

Steve Deverell-Smith has been appointed as head of client consulting at Aptia

Appointments update – 28 January 2026

The London Pensions Fund Authority (LPFA) has appointed Matthew Hopson as its new director of finance and corporate resources

Appointments update – 23 January 2026

The Pension Protection Fund (PPF) has appointed Jeremy Lee as chief risk officer

Check out our latest features

Swipe right for retirement: Can pension apps match modern expectations?

As consumer technology races ahead, pensions are still struggling to deliver digital experiences that feel intuitive, responsive and engaging. Callum Conway explores whether pension apps are finally closing the gap

Sizing up the social mobility challenge

Paige Perrin investigates why social mobility in the UK pensions industry remains limited, and how apprenticeships, DEI initiatives, and smarter recruitment could finally open the doors to a more diverse workforce, in the latest for Pensions Age’s special focus on DEI

Disclosures without the drama

As policymakers grapple with the future of pension sustainability reporting, UK Sustainable Investment and Finance Association (UKSIF) chief executive, James Alexander, sits down with Sophie Smith to call for smarter, more coherent disclosure rules that drive real-world outcomes, rather than red tape barriers

Going private: The asset class gathering pace

As the Mansion House Compact and Accord take hold, UK pension schemes are stepping up allocations to private markets. Sandra Haurant reports

Is this the real life? Is this just fantasy?

The challenge for the pensions industry to spot AI-generated ‘deepfakes’, and the role they may play in identity fraud

The sum of many small parts

As the number of self-employed continues to rise, what changes are required to better assist them in their retirement saving?

Coming of age

With the professional trustee market reportedly entering a new stage of maturity, Laura Blows

explores whether the sector is experiencing any growing pains

The future of covenant assessment

Employer Covenant Practitioners Association chair, Luke Hartley, explores the continued importance of the employer covenant throughout this period of great change

Putting the ‘me’ in member

Universities Superannuation Scheme (USS) pensions operations and services executive,

Stephen Worthington, explains how the UK’s largest private pension scheme has made member experience central to its operations

Cheap and cheerful?

The debate between cost and value has continued to persist, as whilst increased scale has allowed providers to negotiate better fees, not all are convinced that this is delivering the best value for savers

Closing the disability pensions gap

Many people with disabilities are unable to accumulate significant occupational or private pension savings, in part because of the difficulties to find work and the struggles they may face within the workplace. David Adams looks at what the pensions industry, employers and policymakers might do to help ensure more disabled people can enjoy a better income in retirement

Multi-employer CDC in practice – from drawing board to delivery

After years of planning, the first multi-employer CDC pension schemes could be launched as early as 2027, with regulators set to publish rules this autumn

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Head of Pensions

Posted by

84,421 to £93,565 plus benefits and relocation support

Stevenage / Hybrid

Full time

The Hertfordshire Pension Fund is part of the Local Government Pension Scheme (LGPS) and administered by Hertfordshire County Council. With 123,922 members, 529 employers, and £6.25 billion in assets, we are a cornerstone of financial security for thousands of public sector employees across the county. Joining us means playing a vital role in delivering excellence, innovation, and integrity in public service.

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Pensions Advisor – Head Office

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39,468 pa rising to £48,702 after three years' service

Head Office, Salford Quays, M50 3XZ

The principal duties are: under the general direction of the Pensions Officer to provide a frontline pensions guidance service to members of the Union; provide a support service to the
Pensions Officer including developing policies on pensions; advise members, reps and
Union Officials on matters related to Company and State pension provision. To raise awareness and generate activity relating to pensions issues.

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In-House Pensions Manager, Governance

Posted by Sammons Pensions Recruitment

superb compensation package

Hybrid/Glasgow office 3 days per week

We’re looking for a Pensions Risk & Governance Senior Manager to lead risk oversight and governance for one of the UK’s largest occupational pension schemes. This is a high-impact role offering hybrid working from Glasgow (3 days in-office per week) and the chance to drive governance at the highest level.

To discuss this role in confidence please call Sarah Bergin-McCarthy on 020 7293 7022 or email sbm@sammons.co.uk. please quote reference 119233.

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Quality Assurance Pensions Administrator

Posted by Abenefit2u

Up to c£41,000pa plus excellent benefits

Leeds twice per week

Permanent

Are you highly detail-oriented with a passion for accuracy, continuous improvement, and high-quality outcomes? An established workplace pensions provider is expanding its Quality Assurance (QA) function and is looking for two experienced Pensions Administrators to help shape and strengthen this growing area of the business.

We are looking for someone with;

• Proven pensions administration experience, including manual benefit calculations (essential).
• Experience or understanding of User Acceptance Testing for system changes and calculation updates (desirable — training provided).
• A strong eye for detail with a naturally questioning and analytical mindset.
• An inquisitive, improvement-focused approach, with confidence navigating complex scenarios

For a confidential discussion please telephone Tasha Davidson on 0208 274 2842 / 07958 958626 or email tasha@abenefit2u.com

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Pensions Manager, In House

Posted by Sammons Pensions Recruitment

Excellent + competitive benefits & bonus

Hybrid/c.4 days a week office South East or West Midlands

Fantastic opportunity to take your career forward leading this in-house Pensions function.

To discuss this role in confidence please call Sarah Bergin-McCarthy on 020 7293 7022 or email sbm@sammons.co.uk. please quote reference 80721.

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