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Pension risk transfer market set to reach £70bn in 2026


By Sandra Haurant

The value of deals completed in the UK’s pension risk transfer market is expected to reach £70bn in 2026, according to WTW’s annual De-risking Report.

WTW said the bulk annuity market was projected to exceed £50bn, thanks to competitive pricing and larger transaction sizes, while the longevity swap market was expected to reach levels of up to £20bn


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Nest launches its first-ever Member Assembly

Nest has announced its first-ever Member Assembly, which aims to put members at the centre of shaping the workplace pension scheme’s investment approach

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DB funding surplus rises to £265.6bn in January

The aggregate surplus of defined benefit (DB) pension schemes in the Pension Protection Fund’s (PPF) 7800 Index rose by £5.9bn to £265.6bn in January, continuing to set record levels

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DWP’s trustee and governance reform must favour ‘practicality over process’

The government should introduce mandatory minimum administration standards, according to Trafalgar House, but the third-party pensions administrator cautioned against increasing complexity in an already complicated regulatory regime

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KLM UK Pension Scheme secures £240m buy-in with Rothesay

The KLM UK Pension Scheme has completed a £240m buy-in transaction with Rothesay

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Vistry pension schemes complete £155m buy-in with PIC

Vistry’s final salary pension schemes have completed a £155m full buy-in with Pension Insurance Corporation (PIC), securing the benefits of 1,671 members

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Bilfinger offshore workers to strike in pension dispute

More than 400 offshore workers employed by Bilfinger UK Limited are set to take part in 48 hours of strike action later this month, as a dispute over pensions escalates

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Higher education pension scheme completes £12m buy-in with Just Group

An arts-based higher education pension scheme has finalised a £12m buy-in with Just Group, securing the benefits of 155 pensioners and deferred members
Global pension assets climb to $68.3trn as UK slips to fourth-largest market

Global pension assets rose by almost 10 per cent in 2025 to reach a record $68.3trn, driven by strong market performance and the continued expansion of defined contribution (DC) savings, according to research from the Thinking Ahead Institute (TAI)
Deloitte UK pension scheme concludes £700m BPA with Standard Life ahead of full buyout

The Deloitte UK pension scheme section of the Pensions Master Plan has finalised a £700m bulk purchase annuity (BPA) deal with Standard Life, paving the way for a full buyout by April 2026
FRC consults on changes to actuarial standard for CDC schemes

The Financial Reporting Council (FRC) has launched a consultation on proposed amendments to its Technical Actuarial Standard (TAS) 310 to ensure the framework underpinning collective defined contribution (CDC) pension schemes remains fit for purpose as the market expands

SPP backs FCA pensions proposals but warns against added cost and complexity

The Society of Pension Professionals (SPP) broadly supports the Financial Conduct Authority’s (FCA) latest proposals on adapting rules for a changing pensions market, while cautioning that regulators must avoid introducing unnecessary cost and complexity for schemes and providers
Argent Group pension scheme completes £16m buy-in with Just Group

The Argent Group Europe Pension Scheme has finalised a £16m full-scheme buy-in with Just Group, securing the benefits of 215 members


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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

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

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

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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

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THE ROLE OF INSURANCE-LINKED SECURITIES (ILS) IN PENSIONS TODAY
Francesca Fabrizi discusses the role insurance-linked securities can play in both DB & DC schemes with Leadenhall Capital Partners senior managing director, Alistair Jones

Private markets – a growing presence within UK DC
Laura Blows discusses the role of private market investment within DC schemes with Aviva Director of Investments, Maiyuresh Rajah

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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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