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'Careful' policy action needed to 'unlock' pension investment in push to net zero


By Sophie Smith

"Careful policy action" is needed to unlock pension capital to help deliver on the government's clear power by 2030 mission, an industry report, Mobilising pension capital for net zero: a policy blueprint for the UK, has suggested.

The report called on the government to take an "active and coordinated approach" across finance, planning, renewable markets and industrial decarbonisation policy to give pension investors greater clarity and confidence


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Michelin Pension and Life Assurance Plan agrees £1.5bn buy-in with Aviva

The Michelin Pension and Life Assurance Plan has agreed a £1.5bn full-scheme buy-in with Aviva, covering the retirement benefits of around 15,000 members of the scheme

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Scottish Widows expands digital offering in app refresh

Scottish Widows has added a new ‘insure’ space in its app for workplace pensions customers in order to make it easier for members to be more connected to their finances by seeing all of their insurance policies in one place

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Employers urged to do more than repair DC schemes

Employers should “look beyond just repairing ‘broken’ defined contribution (DC) pension provision", WTW has said

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UK PRT market reaches ‘cruising altitude’, expected to finish below 2023 levels

UK pension risk transfer market volumes have reached “cruising altitude”, with 2024 expected to end a little below the 2023 record of £49.1bn, LCP analysis has found

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Majority of self-employed workers 55 and over 'off track' for moderate retirement

The majority (90 per cent) of self-employed workers aged 55 and over are off track for a moderately comfortable retirement, with less than £250,000 in their pension, research from Interactive Investor has found

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Pension schemes are UK's largest social impact investors

Pension funds are the largest UK social impact investors, providing 21 per cent of the UK’s social impact investment, according to analysis by Better Society Capital (BSC)

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Nearly a third of retirees considering a return to work as living costs rise

Nearly three in 10 (29 per cent) UK retirees are considering returning to work to cope with rising living costs, according to research by Indeed Flex
Govt consults on legislation to extend CDC

The Department for Work and Pensions (DWP) has launched a consultation on draft legislation to extend collective defined contribution (CDC) provision beyond single or connected schemes
Govt urged to form National Lifetime Savings Plan

The government has been urged to create a new National Lifetime Savings Plan (NLSP), as well as a National Short-Term Savings Plan (NSSP), to help improve financial resilience
Draft CDC legislation a 'landmark moment' for pensions industry

Industry experts have welcomed the government’s consultation on plans to extend collective defined contribution (CDC) to whole-life unconnected multiple employer schemes and other related provisions, hailing this as the “landmark moment” for the industry

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'Structured plan’ may be needed to develop engagement with pensions – DWP

The Department for Work and Pensions (DWP) has suggested that a structured plan to assign priorities may be needed to develop engagement with private pensions
'Story of stability' for DB funding levels

The aggregate surplus of the 5,050 schemes in the PPF 7800 Index grew to an estimated £476bn at the end of September 2024, up only slightly on the £475bn reported at the end of August 2024, figures from the Pension Protection Fund’s (PPF) 7800 Index showed


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Highlighted Content

Could investing in areas like robotics and cyber-security make pensions cool?

I suspect I know what you’re thinking: Pensions won’t ever be cool and that’s that. But what if they were invested in areas of science and technology that people find fascinating, desirable and relevant to their daily needs?

Blurred lines: Shaping the smart real asset sector of the future

James Muir explores the increasing convergence of property and infrastructure investment under the ‘real assets’ umbrella

Pensions Age Cyber Focus

Including Delegated Functions, Cyber VaR and the path to cyber insurance, and The Cost of cyber attacks

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Not quite the end…

Alex Janiaud considers how DB schemes can best manage residual risks after an endgame solution

Presenting the case for pension class actions

In recent months, the LGPS has been involved in high profile US class action cases with multi-million-pound settlements. Could these become more popular throughout the wider pension world?

CDC: Sharing investment risks and rewards

With Royal Mail’s collective defined contribution (CDC) scheme set to launch in October, Paige Perrin examines how the risk-sharing nature of CDC schemes could enable greater investment opportunities

On the rise: Pensioner poverty

Laura Blows explores why the number of pensioners living in poverty is increasing, the impact of this trend, and what the industry can do to help tackle the problem

Pensions in the digital era: Is the industry keeping up or falling behind?

The digital revolution is here to stay, but is the pension industry keeping up? What more can be done to encourage greater adoption of technology?

Rising to the challenge

Laura Blows speaks to the pensions ombudsman, Dominic Harris, about his plans to improve efficiency within The Pensions Ombudsman (TPO) and reduce waiting times

Risky business?

Funded reinsurance has faced growing scrutiny in recent months, but with capacity concerns being raised around the BPA market, it could also present an opportunity to reduce risk and meet the growing demand from DB schemes. Sophie Smith reports

Winning the battle

North East Scotland Pension Fund investment manager, Graham Buntain, and Robbins Geller Rudman & Dowd cofounder and partner, Mark Solomon, discuss their recent success in a battle for justice against American sportswear brand Under Armour

EM investment opportunities

Sandra Haurant explores the wide world of emerging markets equities

Balancing member engagement with GDPR

Has GDPR impacted on pension communications and the industry’s ability (or not) to be proactive with their engagement messages?

Increasing financial literacy; lowering scams

As part of Pensions Age’s year-long special focus on financial literacy, Chris Newlands explores the relationship between financial literacy, or lack thereof, and the risk of falling for pension scams

Preparing for the worst

Just like every other organisation, pension schemes need to manage potentially disruptive operational risks, and be prepared to respond to a crisis that could threaten a scheme’s

operations and its members’ wellbeing. David Adams looks at the steps trustees, managers and employers need to take to ensure a scheme is ready to respond when a crisis strikes

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A time for fixed income
Francesca Fabrizi discusses fixed income trends and opportunities with Goldman Sachs Asset Management Head of UK Pensions Solutions, Fixed Income Portfolio Management, Henry Hughes, in our Pensions Age video interview

Purposeful run-on
Laura Blows discusses purposeful run-on for DB schemes with Isio director, actuarial and consulting, Matt Brown, in Pensions Age’s latest video interview
Find out more about Purposeful Run On

Keeping on track
In the latest Pensions Age podcast, Sophie Smith talks to Pensions Dashboards Programme (PDP) principal, Chris Curry, about the latest pensions dashboards developments, and the work still needed to stay on track
Building investments in a DC world
In the latest Pensions Age podcast, Sophie Smith talks to USS Investment Management’s head of investment product management, Naomi Clark, about the USS’ DC investments and its journey into private markets

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