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DWP consults on increasing general levy rates


By Jack Gray

The Department for Work and Pensions (DWP) is consulting on reforms to the general levy for occupational and personal pension schemes, including increasing rates over a three-year period from April 2027.

Levy debt reached £154m in March 2026 and is expected to continue rising without action, with the DWP warning the current 6.5 per cent annual increase would not be enough to reduce the debt


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Rolls-Royce Pension Fund completes £4.3bn buyout transition with PIC

Rolls-Royce UK Pension Fund has completed the buyout of all 36,000 members of the scheme to Pension Insurance Corporation (PIC), nine months after agreeing a £4.3bn full buy-in with the scheme’s trustee

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Pensions UK calls for national retirement adequacy framework

Pensions UK has called for the development of a national framework to measure retirement adequacy that would be built around a minimum income threshold and target replacement rates

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Pensions Age Awards 2027 open for entries

The Pensions Age Awards 2027 are now open to entries for all UK pension schemes and provider firms serving pension schemes in the UK

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Aviva and Age UK launch mid-retirement MOT pilot

Aviva and Age UK have announced the launch of a mid-retirement MOT pilot to help retirees assess whether their pension savings will last throughout later life

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USS surplus more than doubles to £16.9bn in 2026 valuation

The Universities Superannuation Scheme’s (USS) funding surplus has more than doubled over the past three years to £16.9bn, with the scheme’s provisional 2026 triennial valuation showing it to be 127 per cent funded

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OECD highlights need for triple lock reform and AE expansion to self-employed

The UK government should prepare a medium-term reform of the state pension triple lock and consider extending automatic enrolment (AE) to the self-employed, the Organisation for Economic Co-operation and Development (OECD) has said

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Over-55s lacking retirement income goals

Many workers approaching retirement remain unclear about their pension savings and retirement income needs, reinforcing the growing demand for retirement guidance, Wealth at Work has argued
DWP launches consultation on £25bn scale threshold

The Department for Work and Pensions (DWP) has launched an eight-week discussion paper seeking industry views on how the government’s £25bn defined contribution (DC) scale requirements should operate from April 2030
TPR focuses on sustainable retirement income in new five-year strategy

The Pensions Regulator (TPR) has unveiled a new five-year corporate strategy focused on delivering sustainable retirement incomes, alongside an annual plan and regulatory roadmap outlining the implementation of the government’s pension reforms through to 2030
Government sets out updated pensions roadmap as reforms enter delivery phase

The government has published an updated workplace pensions roadmap, setting out a revised, phased timetable for implementing reforms across the defined contribution (DC), collective defined contribution (CDC), and defined benefit (DB) markets

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Clearer support needed as understanding of DC decumulation remains ‘limited’

Clearer, simpler, and more personalised support is needed for those nearing retirement due to a limited understanding of defined contribution (DC) pension decumulation beyond the tax-free lump sum, according to a report commissioned by the Department for Work and Pensions (DWP)
PASA publishes updated five-year strategy

The Pensions Administration Standards Association (PASA) has published its updated strategy for 2026-30, as it looks to play an increasingly visible and influential role in shaping pensions administration policy and standards


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Fewer hands, greater power

Consolidation is reshaping UK pensions, concentrating power among fewer trustees and driving a shift towards a more professional, large-scale governance culture. But alongside the benefits, it also raises important questions around accountability, diversity, and whether member voices risk getting lost

Economic abuse: Targeting pension savings

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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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