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Guided retirement defaults could expose 'millions' to financial losses


By Ellie Carric

Default guided retirement solutions for defined contribution (DC) pension holders risk exposing millions of retirees to financial losses, a study by the Behavioural Insights Team (BIT) has warned.

The Pension Schemes Act 2026 requires trustees of DC schemes to provide default guided retirement solutions that convert members’ savings into a regular lifetime income, unless the member actively chooses otherwise


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Lack of large buy-ins leads to subdued H1 2026 volumes

The lack of pension scheme buy-in transactions over £1bn in H1 2026 contributed to subdued buy-in volumes compared with recent years, while helping to improve pricing levels by 3 per cent since the start of the year, according to analysis by LCP

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BPA insurers urged to publish annual member experience metrics

Bulk purchase annuity (BPA) insurers should publish a consistent set of annual member experience and service metrics for buyout policyholders, Law Debenture and LCP have said

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Pensions UK appoints four new board members and names new Policy Board chair

Pensions UK has appointed four new member non-executive directors to its board, and named its new Policy Board chair, as part of a governance refresh

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Pensions IHT plans risk creating probate 'catch-22'

Proposed changes to the inheritance tax (IHT) treatment of pensions could leave bereaved families unable to access pension funds needed to pay tax before probate is granted, the Society of Trust and Estate Practitioners (STEP) has warned

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Majority of SMEs feel unable to support workers’ retirement outcomes

More than two thirds (68 per cent) of UK small and medium-sized enterprises (SMEs) believe they lack the expertise or resources to support employees' retirement outcomes, despite 51 per cent saying employers are primarily responsible for doing so, research from People's Pension has shown

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UK falls one place to 15th in global retirement security index

The UK fell one place to 15th in Natixis Investment Managers’ (IM) 2026 Global Retirement Index (GRI), despite its score remaining unchanged from last year at 72 per cent

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Total value of risk transfer deals in H1 2026 hits £10.2bn

The total value of pension risk transfer deals reached £10.2bn during the first half of 2026, up from £9.8bn over the same period in 2025, according to Hymans Robertson
Industry urged to rethink how it helps self-employed save for retirement

The UK pensions industry needs to rethink how it helps self-employed people save for retirement, a paper by the Society of Pension Professionals (SPP) has argued
Policy changes hindering retirement planning for 38% of people

Frequent changes to pensions policy are making it more difficult for almost two in five (38 per cent) people to plan for their future, according to research from the Investment Association (IA)
1.4m single female homeowners set to miss moderate retirement standard

Around 1.4 million single female homeowners aged between 55 and 79 are on course to have retirement incomes below the Pensions UK moderate retirement living standard, despite holding significant levels of housing wealth, Fairer Finance has revealed

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Retirees reshaping wealth transfer plans amid policy changes

Retirees are rethinking their wealth transfer plans as policy changes alter their behaviour around how they choose to pass on wealth, analysis from Quilter has shown
Fees, skill gaps and lack of opportunities holding back private market investment - TPR

Pension schemes are interested in investing in private markets but are being held back by opaque fees, governance and knowledge gaps, regulatory uncertainty and a shortage of suitable investment opportunities, The Pensions Regulator (TPR) has found


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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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