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Torsten Bell appointed Pensions Minister; Reynolds moves to Treasury role


By Jack Gray

Labour MP for Swansea West, Torsten Bell, has been appointed as Pensions Minister after former Pensions Minister, Emma Reynolds, was named Economic Secretary to the Treasury.

Reynolds has become Economic Secretary to the Treasury following the resignation of Tulip Siddiq


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Half of workplace pension savers have never considered raising contributions

Half (50 per cent) of workplace pension savers have never considered increasing their pension contributions with their current employer, despite 48 per cent understanding how to do so, according to research from the Pensions and Lifetime Savings Association (PLSA)

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DB pension surplus falls by nearly £10bn in December

The aggregate surplus of defined benefit (DB) pension schemes fell to £226.2bn at the end of December 2024, down from £235.5bn at the end of November, the Pension Protection Fund’s (PPF) 7800 Index has revealed

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DB scheme trustees ‘grappling’ to balance risk and growth

Professional trustees of defined benefit (DB) schemes are grappling to balance risk and growth, with a growing divergence in hedging ratios and growth allocations, research from Charles Stanley Fiduciary Management has found

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TPR could play ‘leading role’ in helping to promote sustainable economic growth

The Pensions Regulator (TPR) could play a "leading role" in helping to promote sustainable economic growth, LCP partner, David Wrigley, has argued

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Almost one in five pension funds lack adverse scenario liquidity

Nearly one in five (18 per cent) pension funds believe they do not have enough liquidity to withstand adverse scenarios, research from Ortec Finance has revealed

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Charities urged to prepare for new DB funding regime

Charities with defined benefit (DB) pension schemes need to get prepared for the new funding regime and make sure they understand the changes it entails, according to LCP

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PRA outlines priorities for BPA insurers in 2025

The Prudential Regulation Authority (PRA) has outlined how it expects bulk purchase annuity (BPA) insurers in the UK to manage increased growth and complexity in the market, including on the use of funded reinsurance
Govt urged to drop DC megafund plans in favour of 'comply or explain' regime

The government has been urged to introduce a new ‘comply or explain’ regime for defined contribution (DC) pension investments, after LCP raised concerns that the drive to DC 'megafunds' was the "wrong place to focus" to help generate more economic growth
PensionBee launches climate investment plan

PensionBee has launched a climate investment plan that sets a "clear standard" for climate-focused pensions based on the goals of the Paris Agreement
Majority of Brits support ‘fair compensation’ for Waspi women

Nearly three quarters (74 per cent) of people think the government should deliver “fair compensation” to Women Against State Pension Inequality (Waspi) women, a poll from the Waspi organisation has revealed

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Annuity rates surge as bond turmoil continues

Annuity rates continued to "surge" in value at the beginning of 2025, according to the latest data from Hargreaves Lansdown’s annuity search engine
Govt confirms plans to make pension fund clearing exemption permanent

The government has confirmed that it will maintain pension schemes’ exemption from the clearing obligation for the longer-term, after industry feedback revealed "clear evidence" that removing the exemption would reduce schemes' ability to invest in productive assets


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Closing the gender pension gap
Laura Blows discusses the gender pension gap with Scottish Widows head of workplace strategic relationships, Jill Henderson, in our latest Pensions Age video interview

Endgames and LDI: Lessons to be learnt
At the PLSA Annual Conference, Laura Blows spoke to State Street Global Advisors EMEA head of LDI, Jeremy Rideau, about DB endgames and LDI in the wake of the gilts crisis of two years ago

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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