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AE-eligible workplace pension participation reaches 90%; opt-out rates edge higher


By Callum Conway

Nine in 10 UK employees eligible for automatic enrolment (AE) were saving into a workplace pension in 2025, although opt-out rates have risen to around 11-12 per cent, Department for Work and Pensions (DWP) statistics have revealed.

The DWP’s latest Workplace pension participation and savings data showed that 22.6 million eligible employees were saving into a workplace pension last year, an increase of 600,000 compared with 2024


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Taxable flexible pension withdrawals rise to £22.4bn; cost of pension tax relief soars

Savers withdrew £22.4bn in taxable flexible pension payments during 2025/26, up from £18.6bn in 2024/25 and £15.3bn in 2023/24, according to the latest HMRC statistics

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Govt urged to stem flow of UK pension capital into US tech stocks

The new government needs to stem the flow of UK pension investment into US tech stocks and the ‘Magnificent Seven’ to boost domestic growth, New Capital Consensus has argued

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DB surplus should not be viewed as ‘capital for distribution’

Defined benefit (DB) pension scheme surpluses should not simply be viewed as “capital available for distribution”, Hughes Price Walker (HPW) has warned, as trustees consider the potential impact of proposed changes to the surplus regime

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Annuity rates reach 18-year high in July

Annuity rates hit 7.75 per cent in July 2026, the highest level in 18 years, according to the Standard Life Annuity Rate Tracker

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Hickson UK Group Pension Scheme secures £208m BPA deal with Royal London

The Hickson UK Group Pension Scheme has completed a £208m bulk purchase annuity (BPA) transaction with Royal London

Story 7

SPP launches AI governance framework for pension schemes

The Society of Pension Professionals (SPP) has launched a practical governance framework to help pension scheme trustees oversee the growing use of artificial intelligence (AI) across administration, investment, advisory services and member communications

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Insurance company pension scheme completes £150m ‘BPA Plus’ deal with M&G

A pension scheme sponsored by an unnamed UK insurance company has completed a £150m bulk purchase annuity (BPA) transaction through M&G’s ‘BPA Plus’ proposition
Aston Martin Lagonda Pension Scheme completes £180m buy-in with Aviva

The Aston Martin Lagonda Pension Scheme has completed a £180m full-scheme buy-in with Aviva, securing the benefits of around 1,590 members
DC market entering new era as focus shifts from participation to outcomes

The UK defined contribution (DC) market is entering a new phase as attention shifts from participation towards pension adequacy and member outcomes, according to Hymans Robertson
Majority of pension professionals want salary sacrifice changes scrapped

Nearly two thirds (62 per cent) of pension professionals want the upcoming reforms to salary sacrifice on pension contributions to be scrapped, polling from the Society of Pension Professionals (SPP) has found

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Housing Benefit rules weaken pension saving incentives for older renters - PPI

Housing Benefit rules can leave older renters retaining just 35p of every additional £1 of private pension income, weakening the incentive to save as renting in retirement becomes more common, according to the Pensions Policy Institute (PPI)
Pension professionals exploring retirement CDC; most remain at early stage

UK pension professionals are increasingly exploring emerging retirement solutions, with almost half looking at retirement collective defined contribution (CDC), according to a survey from WTW


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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

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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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