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Govt to progress broader pension reforms alongside work outlined in roadmap


By Sophie Smith

The government has confirmed that it will continue work on broader pension reform issues alongside the work outlined on the pensions roadmap, suggesting that some of this work could be seen before the end of the five-year timeline mapped out.

This includes work around anti-scam pension transfer regulations, as Pensions Minister, Torsten Bell, said that the government is continuing with work done to improve the transfer experience, without undermining policy intent


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Mercer agrees to acquire Fundhouse

Mercer, a Marsh McLennan business, has reached an agreement to acquire the UK investment advisory firm Fundhouse for an undisclosed amount

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UK savers underestimating lifespan by up to seven years

The UK is facing a “serious retirement readiness gap”, according to research from Barnett Waddingham, which found that men are likely to live four years longer than they expect, while women are underestimating their lifespan by a “staggering” seven years

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Most savers ‘in the dark’ on how pensions money is held

Most pensions savers do not know their retirement funds are invested in the markets, according to research from Hargreaves Lansdown (HL), which found that 40 per cent of people surveyed know that their pension was invested in the stock market

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Attitudes to risk 'key' to retirement planning for over 50s

Three-quarters (76 per cent) of people over 50 believe risk appetite is an important factor when making decisions about their pension, and two out of five (41 per cent) expect to have a lower risk tolerance as they approach retirement, according to research from Standard Life

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Government pension roadmap revealed

The government has outlined an indicative timeline for the next five years of pension reform, confirming that consultations and regulations for many of the initiatives included in the Pension Schemes Bill won’t be launched until 2027 at the earliest

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Insurers expect increased risk profiles following a period of relative caution

The majority (83 per cent) of insurers and insurance asset managers believe the risk profiles of their investment portfolios will increase in the year ahead, with 20 per cent expecting a dramatic increase, research by Ortec Finance revealed

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Mandating concerns persist despite govt reassurance

Concerns around the potential for the government to mandate pension investments have continued, with industry experts warning that certain details within the Pension Schemes Bill could be seen as "introducing mandation by the back door”
'Sigh of relief' as govt confirms plans to address Virgin Media ruling fallout

Industry experts have suggested that there will be "collective sigh of relief" after the government confirmed that it will introduce legislation to deal with issues arising from the Virgin Media judgment
TPR to launch new strategy to drive up trusteeship standards

The Pensions Regulator (TPR) has announced its intention to launch a new strategy to drive up standards of trusteeship, aimed at bringing trusteeship into line with other professions and corporate governance standards
FOS consults on interest applied to pension compensation payments

The Financial Ombudsman Service (FOS) has launched a consultation on the interest rates applied to compensation awards

DB scheme funding improves despite ‘volatile’ markets

Defined benefit (DB) funding levels improved throughout May, while markets continued to be volatile amid tariff uncertainty, Broadstone's Sirius Index has revealed
This week in pensions: 2 – 6 June 2025

Pensions Age looks back on the key developments in the industry this week, including the Pension Schemes Bill, updates from The Pensions Regulator (TPR) and the Pensions and Lifetime Savings Association's (PLSA) revised Retirement Living Standards


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