Latest News
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Pension surpluses ‘here to stay’; improved funding levels offer ‘huge’ opportunities
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Reforms needed for UK pensions industry to help in the push to net zero
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Guest comment: Building the case for private sector dashboards
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Pensions Age Autumn Conference 2025 open for registration
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Nest commits £450m to IFM Investor's European-focused infrastructure debt fund
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Impact Investing Principles for Pensions updated to reflect changing market environment
Archive News
The UK pensions and insurance sector could meet up to 50 per cent of the investment needed to deliver on the UK's net-zero commitments, but only if the current policy, regulatory and market barriers are overcome, Phoenix Group has said
Posted: 20/5/25
The Pensions Age Autumn Conference, taking place in London on Tuesday 16 September 2025, is now open for registration
Posted: 20/5/25
Nest has committed approximately £450m (€530m) to seed an infrastructure debt fund with strategic partner IFM Investors, targeting investment opportunities in the European market
Posted: 20/05/25
Association of British Insurers (ABI) long-term savings policy adviser, Emily-Mae Collins, discusses the recent progress towards the launch of the MoneyHelper dashboard and the "critical" work still needed on private sector dashboards
Posted: 20/5/25
The combined aggregate IAS19 surplus for UK FTSE 100 defined benefit (DB) pension schemes was £40bn as of year-end 2024, LCP's annual analysis has revealed, marking the fifth year in a row showing an overall surplus.
Whilst this equates to an average surplus of over £600m for every FTSE100 company with a UK DB pension scheme, LCP clarified that the surpluses are unevenly distributed, with five companies accounting for half of the total
Whilst this equates to an average surplus of over £600m for every FTSE100 company with a UK DB pension scheme, LCP clarified that the surpluses are unevenly distributed, with five companies accounting for half of the total
Posted: 20/05/2025
The Impact Investing Principles for Pensions have been updated to help UK pension fund trustees better align their investment decisions with long-term impact goals and fiduciary duties
Posted: 19/05/25
The number of people who fully withdrew pension pots of £250,000 or more was 292 between October 2023 and March 2024, an increase of 70 people compared to the same period a year earlier, according to analysis by Standard Life
Posted: 19/05/25
The Pensions Regulator (TPR) has launched an innovation support service to reduce “unnecessary” regulatory barriers to pension innovation by enabling early, transparent discussions with pensions innovators.
The regulator has two focus areas, administration and member experience, particularly in the decumulation phase, as well as investment and new scheme models
The regulator has two focus areas, administration and member experience, particularly in the decumulation phase, as well as investment and new scheme models
Posted: 19/05/25
Mid to large-sized employers – those with 500 to 50,000 employees – should be re-enrolling employees into their workplace pension schemes in 2025 as part of their mandatory three-year requirement, Hymans Robertson has urged
Posted: 19/05/2025
The majority of employers (82 per cent) have not switched or considered switching pension providers, according to the Department for Work and Pensions (DWP) 2024 employer survey
Posted: 19/05/2025
Pension savers are calling on McDonald’s to prove that its climate strategy can meet its 2030 and 2050 emissions reduction targets, according to research from PensionBee
Posted: 19/05/25
Pension Wise could benefit from a shift from optional nudges to auto-enrolled appointments, Just Group has suggested, warning that low take-up of guidance risks storing future problems for retirees facing complex financial decisions without support
Posted: 19/05/25
The size of a scheme is the "key factor" for defined benefit (DB) pension schemes choosing an endgame, according to Aon's 2025 endgame survey
Posted: 19/05/2025
Professional trustee appointments have grown by 8 per cent over the past year to reach 2,711, according to WTW research, representing a slowdown from the 11 per cent growth recorded the previous year
Posted: 19/05/25
Several UK pension providers have backed the launch of the Emerging Markets and Developing Economies (EMDE) Investor Taskforce, an industry-led initiative looking to unlock private investment to help tackle climate change
Posted: 16/5/25
Despite defined benefit (DB) pension schemes' resilience and overall good health, scheme trustees may still be reluctant to release any surplus, Insight Investment head of solution design, Jos Vermeulen, has said
Posted: 16/5/25
A third (33 per cent) of adults with defined contribution (DC) pensions have less than £10,000 saved for retirement, while nearly a fifth (19 per cent) of non-retirees have no private pension at all, research from the Financial Conduct Authority (FCA) has revealed
Posted: 16/5/25
Mandating how large pension schemes invest to support UK growth could risk undermining the benefits these schemes already deliver to the UK economy, WPI Economics has suggested
Posted: 16/05/25
The latest news in brief and mandates from the past seven days
Posted: 16/05/2025
Pensions Age looks back on the key developments in the industry this week, including the Mansion House Accord and concerns around possible mandation, further pensions dashboard progress, and calls for a retirement 'sat-nav'
Posted: 16/05/25
The government and regulators have faced further calls to introduce a 10-day pension switch guarantee, after research from PensionBee revealed a "stark picture" of the transfer delays facing consumers
Posted: 16/5/25
Sixteen out of 20 pensions dashboards volunteer participants (VPs) are still to complete their connection journey, the Pensions Dashboards Programme (PDP) has confirmed, with a number of VPs waiting for a slot to become available so they can move forward with their testing
Posted: 15/05/2025
Concerns around pensions adequacy have continued as the industry awaits the second phase of the government's pension review, although Pensions Minister, Torsten Bell, has again hit back at claims that the second phase has been delayed
Posted: 15/5/25
Several UK-listed companies' financial updates have shown a continued trend towards defined benefit (DB) pension de-risking strategies
Posted: 15/05/25
The government has launched a consultation on a range of proposals relating to the Local Government Pension Scheme (LGPS) in England and Wales, covering issues such as the gender pensions gap, forfeiture concerns, and opt-out rates.
The Ministry of Housing, Communities and Local Government explained that much of the consultation focuses on equal access to the scheme and its benefits, as the government looks to improve fairness and address "key issues that have been neglected for too long"
The Ministry of Housing, Communities and Local Government explained that much of the consultation focuses on equal access to the scheme and its benefits, as the government looks to improve fairness and address "key issues that have been neglected for too long"
Posted: 15/5/25
Nearly a quarter (24 per cent) of UK defined benefit (DB) pension schemes are actively considering a reduction in their US asset holdings, research from WTW has revealed
Posted: 15/5/25
Low member engagement is the biggest hurdle to implementing an effective default retirement solution, a poll from XPS Group has suggested, with 37 per cent of participants citing this as the primary challenge
Posted: 15/05/2025
Industry experts have expressed concerns that a focus on cost in the pension sector could undermine long-term value for members
Posted: 14/05/25
The Pensions Regulator (TPR) has called for the introduction of a retirement 'sat-nav', after industry research revealed that the majority (70 per cent) of savers fully withdraw their defined contribution (DC) pension savings without professional advice or tailored guidance
Posted: 14/2/25
Many pension scheme trustees and sponsors could be underestimating the scale of the challenge and the level of preparation required ahead of pensions dashboards, Isio partner and head of administration, Girish Menezes, has warned
Posted: 14/5/25
Initial findings from Trafalgar House's fifth Trust & Confidence Index of the pensions industry have revealed a decline in public trust for the first time since the surveys began
Posted: 14/05/2025
The most common underpin type in risk transfer and consolidation is defined contribution (DC) with a defined benefit (DB) underpin, research from the Society of Pension Professionals (SPP) has suggested
Posted: 14/05/25
A 'fragmented and inconsistent' guidance and advice landscape for defined contribution (DC) savers in retirement leaves them uncertain about their options, risking uninformed decisions and poor outcomes, a report from the Pensions Policy Institute (PPI) has suggested
Posted: 14/05/2025
The trustees of the Andrew Limited Pension and Life Assurance Plan have secured a £63m bulk annuity policy with Aviva, securing the pensions of all 570 scheme members
Posted: 14/5/25
Concerns over the potential for a legal underpin for the Mansion House Accord have continued, with Pensions Minister, Torsten Bell, refusing to be drawn into speculation over whether mandation could be considered if the signatories do not meet their commitments.
Industry experts have also emphasised the need for the government to ensure a strong pipeline of investable assets, although Bell expressed confidence in this area, noting the growing interest in UK investment from Canadian and Australian pension funds
Industry experts have also emphasised the need for the government to ensure a strong pipeline of investable assets, although Bell expressed confidence in this area, noting the growing interest in UK investment from Canadian and Australian pension funds
Posted: 13/5/25
Working for longer could help maintain cognitive functioning and prevent the onset of physical disability among women in their early 60s, research from the Institute for Fiscal Studies (IFS) has revealed
Posted: 13/05/2025
More than half (52 per cent) of savers agree that pension funds should invest more in the UK while only 8 per cent disagree, research from Natwest Cushon has revealed
Posted: 13/5/25
Support for the 2015 freedom and choice reforms remains strong despite older pension savers having some reservations, industry experts have said, after research from Aviva revealed that many savers are not confident pension savings will last
Posted: 13/05/2025
The aggregate surplus of defined benefit (DB) pension schemes fell £13bn to £202.5bn as at the end of April 2025, the Pension Protection Fund’s (PPF) 7800 Index has revealed
Posted: 13/5/25
Industry experts have welcomed the launch of the Mansion House Accord, suggesting that "the threat of compulsion has been heeded, with providers stepping up", although challenges remain in some key areas
Posted: 13/5/25
Seventeen of the largest UK workplace pension providers have expressed their intent to invest at least 10 per cent of their defined contribution (DC) default funds in private markets by 2030, with 5 per cent of the total allocated to the UK.
Building on the Mansion House Compact, the new voluntary initiative, the Mansion House Accord, is expected to unlock up to £50bn of investment for UK businesses and major infrastructure projects
Building on the Mansion House Compact, the new voluntary initiative, the Mansion House Accord, is expected to unlock up to £50bn of investment for UK businesses and major infrastructure projects
Posted: 13/5/25
The Department for Work and Pensions (DWP) is facing renewed scrutiny over pensions dashboards progress, with the Work and Pensions Committee (WPC) writing to the Pensions Minister, Torsten Bell, to highlight a number of industry concerns and queries.
WPC chair, Debbie Abrahams, raised queries around how many providers and schemes have applied to defer connection beyond the October 2026 deadline, also highlighting concerns around over-regulation and private-sector dashboards
WPC chair, Debbie Abrahams, raised queries around how many providers and schemes have applied to defer connection beyond the October 2026 deadline, also highlighting concerns around over-regulation and private-sector dashboards
Posted: 12/5/25
The upcoming Pensions Schemes Bill, expected to be released by the government before summer recess this year, is set to be "crammed to bursting with measures,” according to LCP partner and head of pensions research, David Everett
Posted: 12/05/2025
Less than half (48 per cent) of mid-retirees (aged 65-75) are confident they are on track to make their private pension savings last for life, a report from Aviva has revealed, prompting calls for the introduction of a 'mid-retirement MOT'
Posted: 12/05/2025
One in five (21 per cent) UK adults don’t know when they will retire, research by Hargreaves Lansdown has shown, indicating a lack of financial planning and awareness regarding retirement
Posted: 12/05/25
The AQA Pension Scheme has completed a £120m full scheme buy-in with Rothesay, covering the benefits of all 869 scheme members, including 471 pensioners and dependants as well as 398 deferred members
Posted: 12/5/25
The majority (83 per cent) of British adults underestimate how much annual income is recommended for a single pensioner living a moderate lifestyle by at least £10,000, research from Lightyear has revealed
Posted: 09/05/25
The Wales Pension Partnership (WPP) has launched a new investment company pooling the assets of 22 Local Authorities' Schemes, in a move that is expected to help deliver growth and jobs across Wales
Posted: 9/5/25
The Bank of England’s (BoE) reduction of the base rate from 4.5 per cent to 4.25 per cent is expected to be "welcomed" by most pension schemes due to strong funding positions
Posted: 09/05/25
EQ Retirement Solutions (EQRS) has launched a new member communications and engagement service, designed to enhance the firm's existing solutions for public and private sector schemes, and long-term savings and retirement providers
Posted: 9/5/25
The latest news in brief and mandates from the past seven days
Posted: 9/5/25
Pensions Age looks back on the key developments in the industry this week, including updates on multi-employer collective defined contribution (CDC) pension schemes, pensions dashboard progress, and calls on the government to address industry concerns
Posted: 09/05/25
The average pension pot of £253,701 would only last 11 years against the average desired annual retirement income of £30,050, research from Retirement Review has revealed, highlighting a gap between savings reality and income expectations
Posted: 08/05/25
The number of pension providers and schemes that have completed their connection to the pensions dashboards ecosystem has continued to grow. Pensions Age brings you the latest updates...
Posted: Last updated - 8/5/25
The 2025 valuation for the Local Government Pension Scheme (LGPS) is expected to provide a “unique opportunity" to reset contribution levels, Isio has said, after its latest update revealed that the LGPS remains in a “surprisingly strong position"
Posted: 8/5/25
Defined benefit (DB) funding levels have remained “robust” despite the significant volatility in global financial markets caused by US President Donald Trump’s Liberation Day tariffs, Broadstone's Sirius Index has revealed
Posted: 08/05/25
The Cancer Research UK Pension Scheme has agreed a £280m buy-in with Standard Life, covering the benefits of 2,800 members
Posted: 08/05/2025
TPT Retirement Solutions has announced plans to launch its own collective defined contribution (CDC) scheme, making it the first provider to publicly declare its intention to enter the multi-employer CDC pensions market
Posted: 8/5/25
Workers taking extended unpaid leave could face a financial fallout far beyond their personal budgets, equating to a collective £230.69bn shortfall in pension pots nationwide if two years of unpaid leave is taken, Barnett Waddingham has found
Posted: 07/05/25
Brunel Pension Partnership has confirmed that it is working with its partner funds to explore options for the next stage of its future, after the government rejected the pool's proposed business case and invited the funds to pursue mergers
Posted: 7/5/25
The Pensions Regulator (TPR) has published updated guidance to help pension schemes make third-party applications, including those to appoint an independent trustee (IT)
Posted: 07/05/2025
Defined contribution (DC) pension savers could see their potential retirement income fall by up to 20 per cent as a result of market volatility seen following the introduction of US tariffs, although those in defined benefit (DB) schemes are unlikely to be affected, research from the Society of Pension Professionals has revealed
Posted: 7/5/25
While defined contribution (DC) savers saw strong income growth between 2019 and 2025, the oldest cohort is projected to fare the worst in retirement, Aon’s UK DC pension tracker has revealed
Posted: 07/05/25
Retirement outlooks have continued to worsen in recent years due to rising living costs, with research from Scottish Widows revealing that 39 per cent of people (around 15.3 million) in the UK, aren't on track for a minimum lifestyle in retirement, up from 35 per cent in 2023
Posted: 7/5/25
Intellica has acquired Cosan Consulting for an undisclosed amount
Posted: 7/5/25
Higher earning households could be under-saving for retirement, research from Hargreaves Lansdown has found, raising concerns that some could be on track for a "nasty shock" about their standard of living in retirement
Posted: 06/05/25
Nearly one sixth (15 per cent) of UK adults do not know who will receive their pension savings if they pass away before taking them, rising to a "worrying" 18 per cent amongst those aged 79 and over, research from Aviva has revealed
Posted: 6/5/25
The government should "embrace bold pension reforms", Baroness Ros Altmann has said, suggesting that the government should require at least 25 per cent of new pension contributions to be invested in Britain as a "quid pro quo" for tax reliefs
Posted: 6/5/25
A pragmatic new regime is needed for defined benefit (DB) surplus release, Association of Consulting Actuaries (ACA) chair, Stewart Hastie, has said, arguing that a new regulator code needs to follow "sooner rather than later" in order to drive behavioural change
Posted: 6/5/25
There are “major” differences in retirement spending patterns between homeowner and renter pensioners, research from LCP and the University of Bath has found, highlighting the need for more tailored post-retirement income strategies
Posted: 06/05/25
Defined benefit (DB) pension schemes are pulling ahead of scheme sponsors when it comes to making progress on environmental, social and governance (ESG) considerations, research from LawDeb has revealed
Posted: 6/5/25
Mercer has completed the acquisition of Secor Asset Management for an undisclosed amount
Posted: 6/5/25
The UK’s defined benefit (DB) risk transfer market is witnessing a “fundamental transformation” with insurer supply now exceeding demand for the first time in several years, Hymans Robertson has suggested
Posted: 02/05/25
Pensions Age looks back on the key developments from the pensions industry this week, including pension dashboard progress,recent market volatility, and updates from the Department for Work and Pensions (DWP) and The Pensions Regulator (TPR)
Posted: 02/05/25
The Financial Conduct Authority (FCA) has launched a consultation on how its live artificial intelligence (AI) testing service can help firms deploy “safe and responsible” AI that benefits markets and consumers
Posted: 2/5/25
The latest news in brief and mandates from the past seven days
Posted: 2/5/25
The number of pension providers that have completed their connection to the pensions dashboards ecosystem has continued to grow, with Standard Life and AJ Bell the latest to confirm that that they have completed connection
Posted: 2/5/25
European pension schemes holding US assets face an "unprecedented challenge", Isio chief investment officer, Barry Jones has warned, with many schemes now rethinking their foreign exchange (FX) trading following the introduction of US President Donald Trump's tariffs
Posted: 2/5/25
Pensions Management Institute (PMI) chief strategy officer, Helen Forrest Hall, discusses the importance of getting the sequencing of the upcoming pension reforms right
Posted: 1/5/25
Almost half (47 per cent) of carers between the ages of 60 and 65 have no private pension savings, analysis by Phoenix Insights has revealed
Posted: 01/05/2025
The Work and Pensions Committee (WPC) has announced plans to question pension industry leaders and finance think tanks on pension funds’ UK investments and how to boost them
Posted: 1/5/25
Govt to consider PPF compensation changes; consultation on governance to be launched later this year
The government has said that it will consider changes to the Pensions Protection Fund (PPF) compensation framework, including pre-1997 indexation, also announcing plans to consult on measures to improve scheme governance and trustee accreditation later this year
Posted: 1/5/25
Over six in 10 (63 per cent) institutional investors, including pension funds, are “quite concerned” that companies are making false claims about the extent to which they use artificial intelligence (AI) and its positive impact on operations, Robocap research has revealed
Posted: 1/05/25
HM Treasury has updated the Treasury Directions for the Public Service Pensions and Judicial Offices Act 2022 regarding the McCloud remedy
Posted: 30/04/2025
Future Growth Capital (FGC) has launched two diversified private markets long-term asset funds (LTAFs), a global strategy and a complementary UK strategy
Posted: 30/4/25
Benefits Guru and STAR, two industry award schemes, have released their 2025 ratings for workplace pension providers, ranking them on financial wellness and transfer times, respectively
Posted: 30/04/2025
The OSG Ship Management (UK) Limited Retirement Benefits Plan has completed a £16m full scheme buy-in with Aviva, covering the defined benefit (DB) liabilities for 53 members from OSG
Posted: 30/4/25
A new campaign has been launched to encourage the government to "transform" the UK pensions system, with fronting from a number of celebrities, including Jason Isaacs, Stephen Fry and Aisling Bea
Posted: 30/4/25
Nearly nine million savers in the UK remain "significantly underpensioned" compared to the broader population, with research from Now Pensions revealing that private pension incomes for under-pensioned groups are around 43 per cent to 80 per cent of the population average
Posted: 30/4/25
Pensions Minister, Torsten Bell, has confirmed that the government is moving forward with its plans to extend collective defined contribution (CDC) to multi-employer schemes, with legislation set to be laid in parliament in the autumn
Posted: 30/4/25
Industry experts have broadly welcomed The Pensions Regulator's (TPR) defined benefit (DB) Annual Funding Statement, highlighting the clarifications around covenant and trustee's assessment of supportable risk as particularly helpful
Posted: 29/4/25
Financial Conduct Authority (FCA) head of asset management and pensions policy, Nike Trost, said that the benefit of the Value for Money (VfM) framework is transparency, which should enable decision-makers to think about if investment return is generated in the "right way"
Posted: 29/04/25
The Pensions Regulator (TPR) has said that it expects most defined benefit (DB) pension schemes to shift their focus from deficit recovery to endgame planning, after its latest Annual Funding Statement confirmed that the majority of DB schemes are now in surplus.
TPR’s 2025 AFS, which is the first under the new DB Funding Code, showed that just over half (54 per cent) of schemes are in surplus on a buyout basis, rising to 76 per cent on a low dependency basis and 85 per cent on a technical provision basis
TPR’s 2025 AFS, which is the first under the new DB Funding Code, showed that just over half (54 per cent) of schemes are in surplus on a buyout basis, rising to 76 per cent on a low dependency basis and 85 per cent on a technical provision basis
Posted: 29/4/25
Scottish Widows has announced plans to launch an open-architecture Long Term Asset Fund (LTAF) later this year, pending regulatory approval
Posted: 29/04/2025
Nearly a third (31 per cent) of UK pension schemes believe 50 per cent or more of their members will log into the MoneyHelper Pensions Dashboard within a month of gaining access, WTW research has revealed
Posted: 29/04/25
The Gleaner Pension Scheme has completed a £7.5m full scheme buy-in with Aviva, securing the benefits of all 121 members, comprising 26 deferred and 95 pensioner members, and covering all the scheme liabilities
Posted: 29/04/2025
Standard Life has adopted 'sustainability improvers' labelling for more than two million pension members invested in its sustainable multi-asset, future advantage, and selected investment pathway funds
Posted: 28/04/2025
Renters face a “ticking pensions timebomb” as they head toward retirement with significantly less financial security than homeowners, a study from Barnett Waddingham has revealed
Posted: 28/04/2025
Origo Dashboard Connector (ODC) has announced that it has fully connected to the government’s pensions dashboards ecosystem ahead of the 30 April guidance date.
This means that ODC clients can now connect their pension schemes to the pensions dashboards ecosystem and respond to pension searches from consumers once dashboards go live
This means that ODC clients can now connect their pension schemes to the pensions dashboards ecosystem and respond to pension searches from consumers once dashboards go live
Posted: 28/4/25
The majority (82 per cent) of advice professionals believe that poor pension switching experiences are harming the reputation of the financial services industry, research from PensionBee has found, prompting renewed calls for a 10-day Pension Switch Guarantee
Posted: 28/4/25
Master trust members should be prepared for “higher levels of volatility” as funds continue to push higher overseas equity allocations in their growth phases, a report from LCP has warned
Posted: 28/04/2025
Defined benefit (DB) pension transfer activity spiked in March, despite transfer values hitting a new record low amid the recent market volatility, finishing the month at £142,000, XPS Group's Transfer Value Index has revealed
Posted: 28/4/25
The College of Law Pension and Assurance Scheme has agreed an £85m buy-in with Royal London, meaning that all scheme liabilities are now fully covered by insurance contracts
Posted: 28/4/25
Employers have been urged to take steps to support social mobility, after research from NextGen Pensions raised concerns about potential "diversity-washing"
Posted: 25/04/25
Pensions Age looks back on the key developments from the pensions industry this week, including updates from the DWP and the government, concerning findings on pensions literacy, and notable sustainability progress
Posted: 25/04/2025
The British Business Bank (BBB) has been working in consultation with pension funds on designing an investment vehicle to attract UK pension funds into venture capital and growth equity
Posted: 25/04/25
HMRC repaid more than £44m to people who overpaid tax when they flexibly accessed their pensions in Q1 2025, the latest government Pension Schemes Newsletter has revealed, pushing total repayments since 2015 past £1.4bn
Posted: 25/4/25
The latest news in brief and mandates from the past seven days
Posted: 25/4/25
The Pensions Regulator (TPR), interim director of policy and public affairs, Patrick Coyne, has announced that TPR will launch its planned innovation hub during the summer
Posted: 24/04/25
Sustainability issues are a key consideration for pension schemes selecting a bulk annuity provider, research from the Society of Pension Professionals (SPP) has suggested, as 88 per cent of those polled agreed that the Sustainability Principles Charter is likely to be a factor
Posted: 24/4/25
The pensions industry has welcomed the government’s confirmation that it is proceeding with plans to combine small pension pots in the upcoming Pension Schemes Bill, but warned of long timelines, implementation complexity, and unanswered questions
Posted: 24/04/2025
An “overwhelming” majority (90 per cent) of pension providers regulated by the Financial Conduct Authority (FCA) expect to connect to the pensions dashboards ecosystem in line with the staging guidance, research from the Pensions Dashboards Programme (PDP) has revealed
Posted: 24/4/25
The Department for Work and Pensions (DWP) had repaid £804.7m to individuals impacted by historical state pension underpayments as of 31 March 2025, having identified 130,948 underpayments
Posted: 24/4/25
The ELG Haniel Metals Limited Pension and Assurance Scheme has completed a £28m buy-in with Just Group, securing the benefits of 99 deferred members and 81 pensioners
Posted: 24/04/2025
The government has confirmed that it is pushing ahead with plans to combine small pension pots in the upcoming Pension Schemes Bill, in a move that is expected to boost retirement savings for the average worker by around £1000.
Under the reforms, each individual’s small pots will be brought together into one pension scheme that is certified as delivering good value to savers, although individuals will retain the right to opt out
Under the reforms, each individual’s small pots will be brought together into one pension scheme that is certified as delivering good value to savers, although individuals will retain the right to opt out
Posted: 24/4/25
The Pensions Regulator (TPR) has said that pension superfunds could be a positive for ensuring good outcomes for savers, particularly those in smaller schemes, despite a number of "friction points" seen in the superfund transactions completed so far
Posted: 23/4/25
The government has suggested that recent delays in formal civil servants receiving their occupational pensions as a result of the McCloud fallout have now been resolved, with the My Civil Service Pension (MyCSP) portal back at contractual performance levels
Posted: 23/4/25
"Exceptionally volatile" markets are expected to continue throughout 2025 and may cause a reversal of the performance of fiduciary managers (FMs) seen in 2024, XPS head of fiduciary management oversight, André Kerr, has suggested
Posted: 23/04/2025
The Babcock Group has agreed a long-term funding arrangement (LTFA) with the trustees of all three of its principal schemes, having paid an additional £40m deficit repair lump sum in 2024/25 as part of this
Posted: 23/4/25
Royal London Asset Management has announced its intention to adopt the Sustainability Focus label under the Sustainability Disclosure Requirements (SDR) regime for eight funds in its £11bn sustainable fund range
Posted: 23/04/25
The recent expansion of the Childcare Act could increase the retirement savings of parents by £1.2bn, with some parents potentially able to retire as much as a year earlier, research from The People's Pension has revealed
Posted: 23/4/25
Defined contribution (DC) pension scheme trustees must be aware of the risk of climate change to younger members and should not ignore intergenerational risks, HS Trustees has said
Posted: 23/4/25
The London Clinic Limited (1974) Retirement Fund has appointed First Actuarial to provide actuarial and administration services
Posted: 22/04/25
Whilst more than half (53 per cent) of Brits claim to be knowledgeable about pensions, the majority cannot identify the different types of pension scheme correctly, research from Aviva has revealed
Posted: 22/04/25
Defined benefit (DB) pension schemes are no longer acting as a "drain" on sponsoring employers, Broadstone has said, after its analysis found that deficit reduction contributions dropped to £932m in Q3 2024 as funding improvements eased financial pressures
Posted: 22/4/25
Focusing consistently on career advancement could have a "significant" impact on a person's pension outcomes, Standard Life has suggested, after its research found that varying career strategies could lead to differences of as much as £80,000 (38 per cent)
Posted: 22/04/25
Two fifths (40 per cent) of people over 60 haven’t nominated who they want to inherit their pension when they’re gone, despite a 26 per cent increase in the number of people updating their expression of wish between 2022 and 2024, Hargreaves Lansdown has revealed
Posted: 22/04/2025
Pensions Age looks back on the key developments from the pensions industry this week, including updates from regulators and the government, market trends impacting pension schemes, and notable company announcements
Posted: 17/04/25
Sainsbury's defined benefit (DB) pension surplus rose to £731m as at 1 March 2025, marking a £41m increase from the prior year-end date of 2 March 2024, its latest financial accounts have revealed
Posted: 17/4/25
The latest news in brief and mandates from the past seven days
Posted: 17/04/2025
The Pensions Age Spring Conference, taking place in London on Thursday 24 April 2025, is now just a week away, but there is still time to register
Posted: 17/4/25
The first pension provider, Legal & General, has finalised connection to the pensions dashboards ecosystem, in line with the Department for Work and Pensions' (DWP) staged timetable in guidance, the Pensions Dashboards Programme (PDP) has confirmed
Posted: 17/4/25
Half (50 per cent) of UK adults don't know how much they'll receive in their state pension, while nearly a third (32 per cent) are unaware of the age they'll receive it, analysis from Standard Life has revealed
Posted: 17/4/25
WH Smith Group has received a £75m cash refund on its pension surplus, following the buyout and wind up of the group's defined benefit (DB) pension scheme, WHSmith Pension Trust
Posted: 16/4/25
The Northern Ireland Local Government Officers’ Superannuation Committee (NILGOSC) pension fund should look at what can be done to protect against future risks, particularly in terms of how surpluses can be used, the Government Actuary's Department (GAD) has said
Posted: 16/4/25
The Pensions Ombudsman (TPO) has upheld a complaint against Peter Marson Optometrist for failing to pay contributions into a worker’s Nest pension due to maladministration
Posted: 16/04/25
Pensions Minister, Torsten Bell, has reiterated the government's commitment to uprate the state pension not only this year, but throughout the current parliament, with this expected to raise the state pension by up to £1,900 by the end of parliament
Posted: 16/4/25
UK savers are highly cautious when it comes to their retirement savings and want stability over high returns, PensionBee has said, after its research found that less than a tenth (8 per cent) of savers are willing to invest in high-risk assets
Posted: 16/4/25
Schroders, in collaboration with Cornell University's Global Labor Institute (GLI), has published new guidance for engaging with companies on climate resilience
Posted: 16/04/2025
Local Government Pension Scheme (LGPS) pools are awaiting further clarity on the future regulatory and operational requirements that will apply to them, after the majority of pools were given government approval on their proposals
Posted: 15/4/25
The Insolvency Service has placed bankruptcy restrictions against GP practice manager, Sonia Simkins, after its investigation found that she had failed to pay contributions into NHS pension scheme on behalf of her staff, despite deducting contributions
Posted: 15/04/25
The Westerby Group has acquired specialist pension provider and independent financial adviser (IFA) firm Redswan for an undisclosed amount
Posted: 15/4/25
Following recent regulatory and market developments, 2025 represents an important year for schemes reviewing their endgame strategy, Aon has suggested
Posted: 15/04/2025
The Pensions Ombudsman (TPO) has upheld a complaint against Core TV Solutions Limited for failing to pay contributions into a worker's pension despite deducting contributions from her pay
Posted: 15/04/25
Sole trustees have embraced The Pension Regulator's General Code, using it to innovate their in-house governance approaches and ensure they can be held to the highest account for governance, according to a survey by Hymans Robertson
Posted: 14/04/2025
The Financial Conduct Authority (FCA) has concluded its six-week policy sprint, which aimed to support new ways to help consumers make important investment decisions as part of the regulator's work on targeted support
Posted: 14/4/25
Physical risk as a result of rising temperatures is the most serious threat to asset performance, Ortec Finance has said, after its research showed that even most ambitious scenario does not anticipate the world reaching net zero until mid-2050
Posted: 14/4/25
Equiniti Retirement Solutions (EQ) has been reappointed as an eligible supplier on the National Local Government Pension Scheme (LGPS) framework for pension administration software for a further four years
Posted: 14/04/2025
Artificial intelligence (AI) is already reducing costs, improving efficiencies and revolutionising member communications, although risks must be managed to prevent saver detriment, the Pensions and Lifetime Savings Association (PLSA) has warned
Posted: 14/4/25
The Pension Protection Fund (PPF) has announced the appointment of several firms to its trustee services panel and restructuring and pre-insolvency services (RPIS) framework following the outcome of its recent procurement
Posted: 14/04/2025
Savers contributed, on average, £285 (19 per cent) more to their pensions in 2024 compared to 2023, according to analysis by PensionBee
Posted: 14/04/25
The South East Water Pension Scheme has completed a £120m buy-in with Just Group, securing the benefits of around 700 pensioner and dependent members and almost 300 deferred members
Posted: 14/4/25
Pensions Age looks back on the key developments from the pensions industry this week, including defined benefit (DB) funding updates, research on the use of artificial intelligence (AI) and environmental progress
Posted: 11/04/2025
The Pensions Regulator (TPR) has shared a series of short films highlighting the difference pensions dashboards could make to savers as part of its campaign to get the pensions industry dashboard ready
Posted: 11/4/25
The latest news in brief and mandates from the past seven days
Posted: 11/04/2025
Recent defined benefit (DB) pension funding improvements should not mask the fact that schemes are facing challenges, including uncertainties caused by recent market volatility and concerns over data ahead of the rollout of pension dashboards, PwC has said
Posted: 11/4/25
UK employers have been urged to ensure that staff who are in net-pay arrangement pension schemes are aware that they could be eligible for extra money from the government, amid concerns that most people will not claim their money
Posted: 11/4/25
Chancellor, Rachel Reeves, has confirmed the reappointment of Nikhil Rathi as Financial Conduct Authority (FCA) chief executive
Posted: 11/4/25
The Pensions Regulator (TPR) has said that small defined contribution (DC) schemes that do not take appropriate action to protect savers’ retirements from climate risk should think about quitting the market
Posted: 10/4/25
Legal and General Assurance Society Limited (L&G) has insured more than £800m of pension liabilities using L&G Flow, its tailored solution for smaller pension schemes
Posted: 10/04/2025
The government should consider a number of "urgent" pension reforms as part of its ongoing pension review, the UK Sustainable Investment and Finance Association (UKSIF) has said, arguing that "decisive" steps are needed to tackle current investment barriers
Posted: 10/4/25
The Pensions Regulator (TPR) has made two appointments to senior roles as it looks to "bolster" expertise in areas such as asset management and investment
Posted: 10/4/25
Compensation for a typical defined benefit (DB) pension transfer redress case continued to fall through Q1 2025, although these downward movements may be 'wiped out' by recent market volatility unless changes are seen, Broadstone's DB redress tracker has revealed
Posted: 10/04/2025
Charities have been urged to review their defined benefit (DB) pension arrangements and endgame planning, after analysis from Spence & Partners revealed that funding levels for DB schemes in the charity sector have reached an average of 100 per cent on an FRS102 basis
Posted: 10/04/2025
Celebrating excellence within the Irish pensions industry for another year, European Pensions' annual Irish Pensions Awards is now open to entries for Irish pension funds and providers, with an entry deadline of 11 July 2025
Posted: 10/4/25
The government has announced plans to amend primary legislation to separate pension fund accounts from administering authority (AA) main accounts, as part of its efforts to "fix the broken local audit system"
Posted:
Pension scheme trustees should "double down" on cyber security efforts to ensure the protection of data, assets, and members, RSM UK partner, Stuart Leach, has said
Posted: 09/04/2025
Scottish Friendly has announced plans to acquire the pension and annuity in payment books of business from Fidelity International, subject to regulatory approval
Posted: 09/04/2025
The Pensions Scams Action Group (PSAG) has upped its efforts to uncover fraudulent websites, using machine-learning technology and algorithms trained with real-world data to build predictive models that can detect scam websites
Posted: 9/4/25
The 10 largest professional trustee firms are now responsible for £1trn of pension scheme assets, Isio's 2025 professional independent trustee survey has revealed.
Isio's survey revealed that these 10 firms now manage over 2,400 pension schemes, representing almost half (43 per cent) of UK defined benefit (DB) pension schemes
Isio's survey revealed that these 10 firms now manage over 2,400 pension schemes, representing almost half (43 per cent) of UK defined benefit (DB) pension schemes
Posted: 09/04/2025
The wait is over, as the agenda for the Pensions Age Spring Conference, taking place in London on Thursday 24 April 2025, has now been confirmed
Posted: 9/4/25
Unparalleled levels of competition in the buy-in market coupled with upcoming government policy could "re-write the landscape" the defined benefit (DB) pension landscape and increase the number of investment opportunities for schemes, according to LCP
Posted: 09/04/2025
The shortlist for the 2025 European Pensions Awards has now been revealed ahead of the highly anticipated gala dinner on 3 July 2025
Posted: 8/4/25
The Pensions and Lifetime Savings Association (PLSA) has announced that it will focus its work programme on adequacy, pension fund consolidation, and various investment-related issues as it looks to help maximise saver outcomes
Posted: 08/04/2025
Over two-thirds (67 per cent) of employed UK adults with a workplace pension wish they had been taught about pensions earlier in life, research from My Pension Expert has revealed
Posted: 08/04/25
The government could "unlock" billions of pounds from UK pensions, Hymans Robertson has said, with its research showing that a package of pension reforms could provide a £28.5bn annual boost for the Treasury, while employers could benefit by up to £14.2bn a year
Posted: 8/4/25
The majority (88 per cent) of potential buyers prioritise saving for a house deposit over saving for a pension, a survey from Share to Buy has revealed
Posted: 08/04/2025
The London Pensions Fund Authority (LPFA) has pledged to invest around £250m, or 3 per cent, of its £8bn fund value in environmental solutions assets, to support its net-zero ambitions
Posted: 08/04/25
The Skipton Building Society Group Pension Scheme has completed a £105m full scheme buy-in with Rothesay in January 2025, securing the benefits of all 705 scheme members, including 396 pensioners and dependents and 309 deferred members
Posted: 08/04/2025
The aggregate surplus of defined benefit (DB) pension schemes fell £17.2bn to £215.5bn as at the end of March 2025, the Pension Protection Fund’s (PPF) 7800 Index has revealed
Posted: 8/4/25
Global insurance and employee benefits intermediary group Howden has completed its acquisition of Barnett Waddingham, creating one of the largest pensions and employee benefits firms in the UK
Posted: 7/4/25
Clara Pensions has announced plans to launch a new private markets investment vehicle, confirming that it expects to invest 30-35 per cent of Clara's assets into private markets as the superfund grows.
The Clara Private Markets Vehicle was created in conjunction with Van Lanschot Kempen Group, who will manage the fund, and is expected to be registered soon
The Clara Private Markets Vehicle was created in conjunction with Van Lanschot Kempen Group, who will manage the fund, and is expected to be registered soon
Posted: 7/4/25
More than four in 10 (42 per cent) individuals with a state pension age (SPA) between 66 and 67 know their SPA correctly within three months, research from the Institute for Fiscal Studies (IFS) revealed, suggesting "significant" knowledge gaps among those approaching retirement
Posted: 07/04/25
The voices of trustees, who control the majority of workplace pension money in the UK, are 'rarely heard' in the corridors of power, a report from LCP has warned
Posted: 07/04/2025
The government has launched a consultation on plans to amend the regulations applying to alternative investment funds in order to make it simpler and cheaper for most asset managers to do business in the UK
Posted: 7/4/25
Nearly half (45 per cent) of over-65s either don't full trust artificial intelligence (AI) or don't trust it at all to provide accurate financial guidance, research from PensionBee has revealed
Posted: 7/4/25
Pensions Minister, Torsten Bell, has urged the pensions industry to focus on delivering value and consistent returns for savers, suggesting that there is now "actually a pretty big consensus" on what is needed in the pensions space over the next ten years
Posted: 4/4/25
Many savers are still not accessing advice on pensions ten years after the government implemented the ‘freedom and choice’ reforms, which allowed people to access their pensions with greater flexibility, the Institute and Faculty of Actuaries (IFoA) has revealed
Posted: 04/04/2025
Pensions Age looks back on the key developments from the pensions industry this week, including several key updates from The Pensions Regulator (TPR), Financial Conduct Authority (FCA) and the Pension Protection Fund (PPF)
Posted: 04/04/25
The latest news in brief and mandates from the past seven days
Posted: 04/04/2025
Pension scheme trustees will need to navigate "significant" market volatility following US President Donald Trump's tariffs, Broadstone has said, after its analysis revealed that half and fully hedged defined benefit (DB) schemes experienced contrasting fortunes in March
Posted: 4/4/25
Pension investors should remain calm despite market turbulence caused by US President, Donald Trump's tariffs, Hargreaves Lansdown head of retirement analysis, Helen Morrissey, has said
Posted: 03/04/25
The Pensions Regulator (TPR) has urged small defined contribution (DC) schemes that are failing to compete with better-governed larger ones to consider winding up, after it revealed that a growing number of small schemes have been hit with fines for poor governance
Posted: 3/4/25
Aberdeen has announced that £3bn of pension scheme policies have transferred from Phoenix Life Limited to abrdn Life and Pensions Limited (abrdn Life)
Posted: 03/04/2025
Six in 10 (60 per cent) defined benefit (DB) pension members fear the government’s plans to allow employers to extract surplus cash from their schemes would create risks for them and other members, research from Pensions Insurance Corporation (PIC) has found
Posted: 03/04/25
Corporate sponsors could face "significant" costs if they don’t consider their risk appetite before engaging with insurers as they plan a buyout and wind up of their defined benefit (DB) pension scheme, Hymans Robertson has warned in its latest paper
Posted: 3/4/25
The government has been urged to consider supporting a new programme to increase opportunities for investing in venture and growth capital funds, in order to help encourage UK defined contribution (DC) pension schemes to invest in private capital
Posted: 3/4/25
The Pension Protection Fund (PPF) has said the “time is right” to review several key areas of its governing legislation, recognising that stakeholders want to see progress on the legislation governing its levy and the levels of indexation it pays
Posted: 03/04/25
Industry experts, including professional trustee firms and associations, have been quick to welcome the news that The Pensions Regulator (TPR) is planning to extend its oversight to include professional trustee firms
Posted: 2/4/25
The Pensions Regulator (TPR) has announced that it will extend its oversight to include professional trustee firms as part of its move to a more prudential style of regulation
Posted: 2/4/25
The ongoing review of the financial ombudsman service (FOS), along with broader attempts to lighten the regulatory load, offers a "significant" opportunity to rebalance the relationship between consumers and advisers in pension redress cases, First Actuarial has argued
Posted: 2/4/25
The market value of private sector defined benefit and hybrid (DBH) pension schemes fell by 1 per cent between 31 March and 30 September 2024, despite an increase in asset values, data from the Office for National Statistics (ONS) has revealed
Posted: 2/4/25
The Financial Conduct Authority (FCA) has granted approval for Aegon UK to launch the final two of its long-term asset funds (LTAFs), following the approval of the first fund last month
Posted: 2/4/25
The government has been urged to provide a greater safety net for defined benefit (DB) pension schemes through the Pension Protection Fund (PPF), in order to encourage investment and spur economic growth
Posted: 2/4/25
Over half (60 per cent) of UK adults are not confident they will have saved the £500,000 needed for a moderate retirement standard of living, research by St. James’s Place has suggested, indicating that many are "severely" underestimating how much they need to save
Posted: 2/04/25
The 'divorce gap' – when women see their household income cut after a divorce – can leave them financially worse off in retirement, according to research from Legal and General (L&G)
Posted: 2/4/25
The UK bulk purchase annuity (BPA) market 'surged' last year, following a record number of transactions, according to Aon's UK Risk Settlement market update
Posted: 01/04/2025
“Significant” improvements in defined benefit (DB) pension scheme funding levels have seen DB trustees prioritise managing illiquid assets, with 64 per cent considering a sponsor loan, Standard Life’s DB Trustee Insights Index has revealed
Posted: 1/04/25
The government has been encouraged to consider taking “urgent measures” to help savers avoid missed opportunities, after it announced a delay in the production of NHS pension remedial service statements
Posted: 1/4/25
Reforms are needed to make the pension system easier to navigate, the Institute for Fiscal Studies (IFS) has said, warning that the number of people making complex and consequential decisions about their pension wealth in retirement is rising "substantially"
Posted: 1/4/25
Whilst artificial intelligence (AI) is beginning to play an important role in pensions administration, its adoption by individual pension scheme members remains limited, according to the Trafalgar House Trust & Confidence Index
Posted: 01/04/2025
Less than two thirds (60 per cent) of professional investors feel they are either fully or almost fully financially prepared to help their clients in living for longer in retirement, research by Fidelity International has revealed
Posted: 1/04/25
The Pensions Regulator (TPR) has written to the government to outline the work it is doing to support the push for UK growth, including plans to "significantly" boost business confidence, improve the investment climate, and foster sustainable economic growth
Posted: 31/3/25
A local government pension scheme (LGPS) fund and the Parliamentary Contributory Pension Scheme have made a cornerstone investment in the Newcore Social Infrastructure Income Fund (NSIIF)
Posted: 31/03/2025
Financial Conduct Authority (FCA) chief executive, Nikhil Rathi, has said the idea that targeted support will not be optimised for every saver is a "necessary trade-off" to improve outcomes, confirming that the FCA is now running a policy sprint to test the plans
Posted: 31/3/25
The Englass Pension Scheme has agreed to a £12m full scheme buy-in with Just Group, insuring the benefits of all 100 scheme members
Posted: 31/03/25
Savers continued to face "unnecessary" delays when transferring their pensions, with some transfers taking over two months to complete, PensionBee analysis has revealed
Posted: 31/01/2025
Lloyds Banking Group Pensions Trustees Limited has entered into two longevity insurance and reinsurance arrangements, covering a combined £5.1bn of liabilities
Posted: 31/3/25
The government has been urged to launch the second phase of its pension review "sooner rather than later", amid concerns that, despite the success of auto-enrolment (AE), many are still not saving enough, with some groups at risk of being "left behind" completely
Posted: 28/3/25
Pensions Age looks back on the key developments from the pensions industry this week, including the lack of pension news in the Spring Statement and the latest debates from industry events
Posted: 28/3/25
The latest news in brief and mandates from the past seven days
Posted: 28/03/2025
The pension industry shouldn’t wait for regulations to be in place before adopting artificial intelligence (AI), Co-Labs Global strategic adviser, Annabel Gillard, has suggested
Posted: 28/03/25
Pension professionals have said that the second phase of the pensions review is a “once in a generation opportunity” for the industry to have its voice heard by the UK government
Posted: 28/03/25
The Clark & Butcher Limited Pension Scheme has agreed a £2m full scheme buy-in with Just Group, securing the benefits of 15 pensioners and 8 deferred members
Posted: 28/3/25
Pensioners' average weekly income after housing costs (AHC) fell from £410 in 2022/23 to £407 in 2023/24, analysis from HMRC has revealed, marking the lowest level seen since before the pandemic
Posted: 27/3/25
The Pensions Regulator (TPR) director of data services, Lisa Allen, discusses the need for every trustee to view data quality as a priority ahead of the upcoming pensions dashboards connection deadlines
Posted: 27/3/25
Three quarters of schemes have adopted net-zero targets, with more schemes than ever taking action to address climate risks, XPS analysis has revealed
Posted: 27/03/2025
Competition in the bulk purchase annuity (BPA) market reached a new high in 2024, with six insurers writing over £5bn in deals for the first time, analysis from LCP has revealed
Posted: 27/3/25
Scottish Widows has announced the launch of a Lifetime Investment default fund as part of its pension investment approaches (PIA)
Posted: 27/03/2025
Origo Dashboard Connector is the latest pensions dashboards participant to successfully complete the programme's integration testing, marking a "significant milestone" on the provider's journey to connect to the government's architecture
Posted: 27/3/25
Chancellor, Rachel Reeves, has delivered her Spring Statement, with no significant changes announced in relation to pension policy or pension tax reliefs
Posted: 26/3/25
The Pensions Regulator (TPR) has shared its diversity pay gap report, which showed that whilst the mean and median gender pay gaps are below 10 per cent, work is still needed for the regulator to reach its "ambitious" gender pay gap target of 2 per cent
Posted: 26/3/25
The Pensions Ombudsman (TPO) has upheld a complaint against the Ministry of Justice (MoJ) for providing inaccurate fee-paid judicial pension scheme (FPJPS) records and "significantly" delaying their correction
Posted: 26/03/2025
The fall in inflation seen in February could be “good news” for reducing pension schemes' liability values, XPS Group has said
Posted: 26/03/25
The majority (87 per cent) of defined contribution (DC) pension savers are in schemes that invest in at least one productive asset class, research from The Pensions Regulator (TPR) has revealed
Posted: 26/3/25
The Financial Conduct Authority (FCA) has launched its five-year strategy, with a specific focus on improving consumer protection and enhancing financial support for savers
Posted: 25/03/25
The introduction of pensions dashboards will present a "great opportunity" for fraudsters, Target Professional Services director, Lisa Lyon, has warned
Posted: 25/03/2025
The majority (55 per cent) of pension administrators believe a new value for money (VfM) framework would require a "large effort for no/little improvement for employers and members," according to a poll from the Pensions Administration Standards Association (PASA) conference
Posted: 25/03/2025
Policy uncertainty and regulatory hurdles are preventing UK pension funds from investing more into UK productive assets, the Local Government Pension Scheme (LGPS) pool Border to Coast Pensions Partnership has warned
Posted: 25/03/25
The Pensions Regulator (TPR) interim director of supervision, David Walmsley, has urged pension schemes to "embrace" innovation and the data revolution
Posted: 25/03/2025
Global insurance and employee benefits intermediary group Howden has announced plans to acquire Barnett Waddingham for an undisclosed amount
Posted: 25/3/25
Defined benefit (DB) pension schemes that enable members to view their illustrative transfer value on a scheme website have consistently higher transfer take-up rates, analysis from LCP has revealed
Posted: 25/3/25
The Department for Work and Pensions (DWP) has said that it is expecting to resolve all remaining state pension underpayment cases by the end of March 2027, with further updates to be shared as part of the government’s ‘Spring Forecast’ later this week (26 March)
Posted: 24/3/25
Around one in eight (12 per cent) people intending to purchase an annuity would not consider switching from their existing pension provider to another supplier, even if they could potentially gain additional retirement income, research from Canada Life has revealed
Posted: 24/3/25
Nearly three quarters (71 per cent) financial advisers are concerned about pensions being brought into scope of inheritance tax (IHT) from 2027, research from Quilter has found
Posted: 24/3/25
Less than two fifths (39 per cent) of UK adults aged 50 and over took advice from a financial adviser before taking money out of their pension, research from Royal London has revealed
Posted: 24/3/25
Many pension providers are still relying on outdated technology, with nearly half (41 per cent) still posting out letters, despite UK workplace pension savers wanting better digital tools to connect with their pensions, research from Bravura has revealed
Posted: 24/3/25
Defined benefit (DB) pension transfer activity fell to a record low in February 2025, according to XPS Group's Transfer Activity Index, which the group highlighted as evidence of increasing member caution over retirement arrangements
Posted: 24/3/25
A total of 299 defined benefit (DB) pension scheme buy-ins were completed in 2024, marking the largest ever number of transactions completed in a single year, analysis from Hymans Robertson has confirmed
Posted: 21/3/25
Teachers prioritise immediate salary increases over retirement benefits, with some willing to miss out on as much as 20 per cent of their retirement income in favour of a 10 per cent salary boost, research from the Education Policy Institute (EPI) has found
Posted: 21/3/25
The trustees of the Aga Rangemaster Group Pension Scheme have awarded Schroders Solutions a £740m fiduciary management mandate, following an open and competitive tender process
Posted: 21/03/2025
The latest news in brief and mandates from the past seven days
Posted: 21/3/25
Fragmentation in stewardship approaches and misalignment between asset owners and managers is creating inconsistencies in engagement and voting strategies, a report from Pensions for Purpose has suggested
Posted: 21/3/25
More than two-thirds (69 per cent) of employers in the UK now offer a responsibly invested company pension, but less than half (44 per cent) have it as their default option, research from Scottish Widows has revealed
Posted: 21/03/2025
Pensions Age takes a look back at the top stories of the week, including updates from The Pensions Ombudsman (TPO), developments in the defined benefit pension landscape, and more
Posted: 21/03/2025
The BT Pension Scheme has completed two longevity reinsurance transactions, one with Swiss Re and the other with Reinsurance Group of America (RGA), totalling £10bn
Posted: 21/3/25
Younger defined contribution (DC) pension scheme members, around 30 years from retirement, have benefited from their higher exposure to equity markets over the past year, Hymans Robertson’s DC Provider Report has suggested
Posted: 20/03/25
The projected life expectancy for a typical UK pensioner has fallen by around nine months for men and seven months for women compared to pre-pandemic models, equating to a 2 per cent reduction in liabilities for a typical pension scheme, analysis from Aon has revealed
Posted: 20/03/2025
Many defined benefit (DB) pension schemes are reconsidering their endgame plans in light of improved funding levels and potential changes to how pension surpluses can be used, a survey of Pensions and Lifetime Savings Association (PLSA) members has found
Posted: 20/3/25
The majority (84 per cent) of those who have accessed their retirement savings since the introduction of pension freedoms in April 2015 said they have benefited from taking money from their pension, research from Standard Life has revealed
Posted: 20/03/25
Anglo American Services (UK) has completed a £785m combined buy-in with Legal & General Assurance Society (L&G) for three of its defined benefit (DB) schemes: The Tarmac UK Pension Scheme, the Tarmac ‘B’ Pension Scheme and the Anglo UK Pension Scheme
Posted: 20/03/2025
Landscape architecture firm Novell Tullett has appointed HS Trustees and Temple Bright to complete the wind up of its Landscape Scheme
Posted: 20/3/25
Criminal proceedings against former company director, Nicholas Marks, have been dismissed after it was confirmed that he had passed away
Posted: 19/3/25
The trustees of the Armfield pension scheme have approved commencement of the winding up of the scheme, with this process expected to take 12-18 months, Judges Scientific Plc has confirmed
Posted: 19/3/25
The Pensions Ombudsman (TPO) has upheld a complaint against the South Wales Fire & Rescue Authority and Rhondda Cynon Taff County Borough Council for maladministration
Posted: 19/03/25
Almost seven million pension pots have been accessed for the first time since the introduction of freedom and choice in April 2015, estimates from AJ Bell have suggested, with drawdown now the most popular option amongst those with pension pots of £30,000 or more
Posted: 19/3/25
The vast majority (93 per cent) of financial decision makers in the UK believe that their company’s pension scheme is posing a risk to their business’s balance sheet, despite the fact that 86 per cent of DB schemes currently have a surplus, research from LawDeb has revealed
Posted:
The expected future living standard in retirement provided by defined contribution (DC) savings rose in Q4 2024, due to strong benchmark investment returns and an increase in expected return assumptions post-retirement, Aon’s UK DC pension tracker has revealed
Posted: 19/03/2025
The Financial Conduct Authority (FCA) has granted approval for Aegon Asset Management to launch the Carne Group Aegon Asset Management private credit Long-Term Asset Fund (LTAF), with Carne Group acting as the authorised corporate director of the fund
Posted: 19/03/25
The Pensions Ombudsman (TPO) has upheld a complaint against the DXC and DXC Pension Trustee Limited for the non-financial injustice an employee had suffered for the delay in completing the Internal Dispute Resolution Procedure (IDRP)
Posted: 18/03/25
The Church of Scotland Pension Trustees has completed a £75m multi-scheme buy-in with Just Group, insuring the benefits of 1,500 pensioner and dependant members and 850 deferred members
Posted: 18/03/2025
More than three quarters (76 per cent) of employers offer alternative cash benefits to high earners in lieu of pension contributions, although many are expected to reduce the cash value on offer due to rising upcoming costs, research from WTW has found
Posted: 18/3/25
The Pensions Regulator (TPR) has pledged to reduce unnecessary regulatory burdens and improve data sharing, as part of the government's broader plans to cut the administrative cost of regulation on business and drive economic growth
Posted: 18/3/25
The average time to buyout for FTSE350 defined benefit (DB) pension schemes continued to fall to 4.4 years at the end of February, analysis from Barnett Waddingham has revealed
Posted: 17/03/25
The pensions industry should avoid being 'too clever' when it comes to discussions around delivering good member outcomes, industry experts have said, suggesting that an income for life is needed to give members more confidence in retirement
Posted: 17/3/25
UK pension funds are not taking "anywhere near enough risk", particularly given efforts to reach net zero, National Wealth Fund head of banking and investment, Ian Brown, has said, emphasising the need for more investment in key UK assets
Posted: 17/3/25
Marshalls, a manufacturer of sustainable solutions for the built environment, has reported an improved surplus of £24.1m for its defined benefit (DB) pension scheme in 2024, up from £11m in 2023
Posted: 17/03/25
Employers have again been encouraged to maximise their pension contributions via salary sacrifice to help balance the additional costs they are set to face as a result of the increase in employer National Insurance contributions (NIC)
Posted: 17/3/25
The majority (87 per cent) of pension professionals confirmed that their firm is using artificial intelligence (AI), a survey by the Society of Pension Professionals (SPP) has revealed, indicating a widespread adoption of AI within the UK pensions industry
Posted: 17/03/25
The Pensions Ombudsman (TPO) has upheld a complaint against The Alliance Automotive Group for failing to pay contributions into a worker's pension despite deducting contributions from his pay
Posted: 17/03/2025
Just over half (53 per cent) of UK savers would prefer their pension money be invested in the UK, research from the Pensions and Lifetime Savings Association (PLSA) has revealed
Posted: 14/3/25
BESTrustees chair, Ann Rigby, discusses the importance of equality, diversity, and inclusion on pension trustee boards and how it might affect governance
Posted: 14/3/25
Industry experts at the Pensions and Lifetime Savings Association (PLSA) Investment Conference 2025 have suggested that defined benefit (DB) regulation must evolve to avoid being misaligned with the government's growth agenda
Posted: 14/3/25
Pensions Age takes a look back at the top stories of the week, including updates from Pension Minister, Torsten Bell, news from the Pensions and Lifetime Savings Association (PLSA) Investment Conference, and more
Posted: 14/03/25
The latest news in brief and mandates from the past seven days
Posted: 14/03/2025
The interpretation of fiduciary duty must change to mean more than just money and include looking after the environment and society as well, climate researcher and author, Mike Berners-Lee, has said
Posted: 13/03/25
The UK is witnessing a “slow-motion train crash” for financial security in retirement, J.P. Morgan chief market strategist, Karen Ward, has suggested
Posted: 13/03/2025
The Fuller’s Defined Benefit (DB) Pension Plan has secured a full buy-in with Legal & General (L&G), following recent funding improvements
Posted: 13/1/25
Annuity rates for a healthy 65 year old have increased by around 8 per cent over the past 12 months, according to the Standard Life Annuity Rates Tracker
Posted: 13/3/25
The Pension Protection Fund (PPF) has made further progress against its diversity targets, its latest Diversity Pay Gap report has revealed
Posted: 13/3/25
Targeted support will help a large majority of savers and nudge them towards better solutions, but could be “detrimental” for a minority, Age UK head of policy, Christopher Brooks, has warned
Posted: 13/03/25
HM Treasury head of pensions investment review, Joanne Gibson, has announced that the government is planning to share a roadmap to show how upcoming pension reforms and policy changes will fit together
Posted: 13/3/25
Pension fund and investment managers should rethink their strategies to ensure better and more resilient outcomes aligned with long-term goals, industry experts at the Pensions and Lifetime Savings Association (PLSA) Investment Conference 2025 have suggested
Posted: 13/03/25
Just over two thirds (67 per cent) of pension professionals think there will be less than 40 Local Government Pension Scheme (LGPS) funds in England and Wales by 2035, although industry experts have suggested that further clarity is needed on the objectives of this consolidation
Posted: 13/2/25
The Pensions and Lifetime Savings Association (PLSA) has updated its Vote Reporting Template to help asset owners, investment managers and platform providers disclose how they enact their shareholder rights
Posted: 13/3/25
Climate considerations are becoming more material for asset owners, with a growing emphasis on climate-related risks and accountability, according to Morningstar Sustainalytics head of sustainable investing research, Hortense Bioy
Posted: 13/03/25
A 'fear of finding out' (FOFO) prevents pension schemes from initiating class action cases related to their investments, Robbins Geller Rudman and Dowd senior advisor, Melissa McDonald, has said
Posted: 25/03/2025
It is in the pension industry’s interest to get the adoption of the new industry shareholder Vote Reporting Template “done, and quickly”, Financial Conduct Authority (FCA), director of sustainable finance, Sacha Sadan, has argued
Posted: 12/03/25
Current climate risk assessments on pension investments “may not be credible,” according to British Business Bank chief investment officer, Leandros Kalisperas
Posted: 12/03/2025
There has been “excellent” growth in the private equity secondary market, Lexington Partners managing director, Philip Smelt, has suggested
Posted: 12/03/25
Buyout is still the most popular endgame strategy for defined benefit (DB) schemes, according to a poll conducted at the Pensions and Lifetime Savers Association Investment Conference (PLSA) 2025
Posted: 12/03/2025
Dashboards could offer "the solution" to a lack of engagement with pensions, independent pensions consultant, Richard Smith, according to independent pensions consultant, Richard Smith
Posted: 12/03/2025
Climate protestors were once again at the Pensions and Lifetime Savings Association (PLSA) Investment Conference in Edinburgh, urging delegates to update risk assessment methodologies amid concerns that many are relying on “flawed” climate risk advice
Posted: 12/3/25
Changes in legislation are needed to ‘unlock’ defined benefit (DB) schemes’ surpluses that could generate £400bn of capital over the next 10 years, analysis by Hymans Robertson has found
Posted: 12/3/25
Endgame strategy and planning remain a top priority for defined benefit (DB) pension schemes amid continued strong funding levels, according to LCP
Posted: 12/3/25
Pensions Minister, Torsten Bell, has seemingly ruled out the idea of a long-term savings commission as a way of building consensus, suggesting that those who think this is the best approach are "living in la la land" given shifts in the political landscape in Britain
Posted: 12/3/25
Pensions Minister, Torsten Bell, has confirmed that he intends to lay the Pensions Bill in parliament before summer recess, with the final report on the Pension Investment Review to be finalised in “the coming weeks”.
The minister confirmed that the government will also provide an update on the timings and detail for phase 2 of the review in the final report
The minister confirmed that the government will also provide an update on the timings and detail for phase 2 of the review in the final report
Posted: 12/3/25
Pensions Minister, Torsten Bell, has confirmed that the government will be sticking to the March 2026 deadline for Local Government Pension Scheme (LGPS) pooling work, with plans to meet with each of the eight funds over the coming weeks to inform this
Posted: 12/3/25
Investing in UK private markets can play an important role in building a better Britain, according to Future Growth Capital CIO, Ped Phrompechrut
Posted: 12/03/25
The UK pension industry should increase their allocation to domestic investments to university spinouts to avoid missed opportunities, Oxford Science Enterprises CEO, Ed Bussey, has said
Posted: 11/03/25
The government has confirmed that it will move forward with its planned amendments to the Teachers’ Pension Scheme, with regulations to be laid in parliament this month (March 2025), before coming into force on 1 April 2025
Posted: 11/3/25
The MGN Pension Scheme is expected to be fully funded by January 2028, after action by The Pensions Regulator secured an additional £25.5m five-year injection from publisher Reach Plc.
TPR executive director of compliance and enforcement, Gaucho Rasmussen, highlighted the case as demonstration of how the regulator will support trustees in their role as the first line of defence for savers, and to stop bigger problems arising later
TPR executive director of compliance and enforcement, Gaucho Rasmussen, highlighted the case as demonstration of how the regulator will support trustees in their role as the first line of defence for savers, and to stop bigger problems arising later
Posted: 11/3/25
The pensions and tax industries are strongly opposed to the government’s proposal to bring unspent pension pots into the scope of inheritance tax (IHT) from April 2027, according to survey from WBR Group
Posted: 11/3/25
The latest National Local Government Pension Scheme (LGPS) Procurement Framework for Transition Management Services has been launched
Posted: 11/03/2025
An unnamed pension scheme has completed a £361m full scheme buy-in with Canada Life, covering over 850 deferred members and around 650 pensioners
Posted: 11/3/25
The aggregate surplus of defined benefit (DB) pension schemes fell to £232.7bn at the end of February 2025, down from £239bn at the end of January, the Pension Protection Fund’s (PPF) 7800 Index has revealed
Posted: 11/3/25
The Pensions and Lifetime Savings Association (PLSA) will be responsible for future oversight of a template for asset managers to communicate to asset owner clients on their voting activity, the Financial Conduct Authority (FCA) has confirmed
Posted: 10/3/25
M&G Investments has received regulatory approval to launch its first Long-Term Asset Fund (LTAF)
Posted: 10/3/25
Pensions Age news editor, Sophie Smith, looks at the need for the pensions industry to take its lead from the International Women's Day campaign, in order to accelerate the action being taken to address the gender pensions gap
Posted: 10/3/25
Pensions Minister, Torsten Bell, has faced renewed calls to establish an independent long-term savings commission
Posted: 10/03/2025
The changes to inheritance tax (IHT) announced in the Autumn Budget have resulted in a “significant shift” in the advice that independent financial advisers (IFA) are giving to their clients, research from Standard Life has found
Posted: 10/3/25
Annuity incomes have surged in value to a 16-year high, according to the latest data from Hargreaves Lansdown’s annuity search engine
Posted: 10/03/2025
The A Gomez Limited Retirement Benefits Scheme has completed a £4.8m buyout with Aviva following a six-month process
Posted: 10/3/25
Pensions Age takes a look back at the top stories of the week, including dashboards updates, market trends, and significant research findings
Posted: 07/03/2025
Pension trustees should talk to their scheme administrators to understand what they are doing to review, rectify and preserve scheme data, Aptia has said, arguing that "2025 is crunch time for pension schemes to address their data"
Posted: 7/3/25
The latest news in brief and mandates from the past seven days
Posted: 07/03/2025
Industry experts have expressed concern about the future of private sector dashboards, highlighting specific issues around regulatory restrictions and launch timelines
Posted: 07/03/25
Around a fifth (17 per cent) or £15.2bn of the approximately £88bn in fossil fuel assets held by UK pension funds are at risk of being stranded by 2040 if current policies and pledges are fulfilled, according to research from the UK Sustainable Investment and Finance Association (UKSIF)
Posted: 06/03/25
The deadline is fast approaching to enter the European Pensions Awards 2025
Posted: 6/3/25
The Pensions Age Northern Conference 2025 is now open for registration, offering pension funds and those working in the industry the opportunity to learn and network alongside their peers
Posted: 6/3/25
Fidelity International has announced its intention to adopt the Sustainability Mixed Goals label under the Sustainability Disclosure Requirements (SDR) regime for three funds in its UK-domiciled multi-asset range
Posted: 6/3/25
It is reasonable for pension scheme trustees to take into account members’ future standard of living in retirement when making investment decisions, legal advice shared by Natwest Cushon and Eversheds Sutherland has suggested
Posted: 6/3/25
Whilst 86 per cent of defined benefit (DB) pension schemes are currently running at a surplus, more than a third (36 per cent) of companies with DB pension schemes need advice on how to make use of that surplus, research from Law Debenture has revealed
Posted: 6/03/25
More than half (54 per cent) of students would be more engaged with their future pension savings if they knew the funds were invested in environmentally sustainable ways to tackle climate change, research from Now Pensions has revealed
Posted: 6/3/25
UK workers are facing an escalating retirement crisis, according to a nationwide report from Smart Pension, which revealed that almost a third of savers expect to continue working once they reach retirement age
Posted: 06/03/2025
The first three pensions dashboards participants have completed their “full end-to-end” connection journey, Pensions Dashboards Programme (PDP) senior responsible owner, Iain Patterson, has revealed.
The three participants, Heywood, Legal and General, and Pension Fusion, reached the final stage on Tuesday (4 March 2025), marking a “significant” milestone
The three participants, Heywood, Legal and General, and Pension Fusion, reached the final stage on Tuesday (4 March 2025), marking a “significant” milestone
Posted: 05/03/25
The Pensions Regulator (TPR) and the Financial Conduct Authority (FCA) have emphasised the "transformational” potential of pensions dashboards, but acknowledged challenges in data quality, digitisation, and scheme connectivity ahead of the 2026 deadline
Posted: 05/03/25
Outdated perceptions of retirement risk are creating a generation of "too little, too late" savers, according to research from M&G
Posted: 05/03/2025
Less than a fifth (11 per cent) of women feel very confident about their retirement savings, compared to 25 per cent of men, research from Schroders Personal Wealth (SPW) has revealed
Posted: 5/3/25
Accenture has acquired Altus Consulting from Equisoft for an undisclosed amount, as it seeks to strengthen its strategic advisory and delivery services for financial services firms in the UK
Posted: 5/3/25
Defined benefit (DB) pension scheme funding levels remained "robust" in February, despite an unpredictable and rapidly developing economic backdrop, Broadstone's Sirius Index has revealed
Posted:
The winners of the 2025 Pensions Age Awards were announced last night at the much-anticipated annual gala dinner on London’s Park Lane
Posted: 5/3/25
The Inchcape Motors Pension Scheme has completed a £505m buy-in with Legal & General (L&G) Assurance Society, covering the benefits of 2,295 retirees and 5,890 deferred members
Posted: 5/3/25
The defined contribution (DC) market has continued to “radically reshape” towards fewer, larger pension scheme, data from The Pensions Regulator (TPR) has suggested, with the number of DC schemes falling below 1,000 for the first time in 2024
Posted: 4/3/25
The gap between the best and worst performing defined contribution (DC) workplace pension providers in the accumulation phase was 14.4 per cent in 2024, up from 9.7 per cent in 2023, research by Barnett Waddingham has revealed
Posted: 04/03/25
Abrdn has announced plans to use funds from its "significant" defined benefit (DB) pension scheme surplus to fund the cost of providing defined contribution (DC) benefits to current employees, while also confirming it is changing its name to Aberdeen Group
Posted: 4/3/25
Transport for London (TFL) has confirmed that its pension scheme will continue as usual following a recent review of its broader funding agreements
Posted: 4/3/25
Origo has announced the launch of its Unipass Transfer Tracking service for advisers to monitor the progress of their clients’ pension transfers online
Posted: 4/3/25
Defined benefit (DB) pension schemes may be reconsidering their endgame strategies in light of recent market movements, PwC has said, after its Low Reliance Index continued to show a record surplus position, rising to £180bn in February 2025
Posted: 4/3/25
The Pensions Regulator's (TPR) new data strategy has challenged the industry to 'raise its game' on data, in order to improve outcomes and benefit the wider market through increased efficiencies, enhanced innovation and reduced regulatory burden
Posted: 3/3/25
Current data inaccuracies mean that nearly one fifth (18.54 per cent) of pension dashboards queries could result in a ‘possible match’ rather than a confirmed match, research from Heywood has revealed
Posted: 3/3/25
Pension scheme trustees must prioritise effective climate action despite resource constraints in 2025, the Trustee Sustainability Working Group (TSWG) has said, emphasising the need for trustees to have a plan to manage climate risk and contribute to the solution
Posted: 3/03/25
Potential changes to surplus extraction rules are giving defined benefit (DB) schemes a "pause for thought," according to Brightwell CEO Morten Nilsson
Posted: 03/03/2025
Brookfield Wealth Solutions has announced plans to enter the UK insurance market, with a specific focus on delivering bulk purchase annuity solutions for UK pension schemes
Posted: 3/3/25
The Careers Research and Advisory Centre (CRAC) Pension Scheme has secured a £2.8m full scheme buy-in with Just Group, insuring the benefits of 30 deferred members and 10 uninsured pensioner members
Posted: 3/03/25
Sophie Smith takes a look at the recent funding challenges faced by a number of campaign and lobbying groups organisations, and the need for the industry to 'put its money where its mouth is'
Posted: 28/2/25
The Pensions Ombudsman (TPO) has upheld a complaint against Mr Peter E O’Hare for failing to pay contributions into a worker's pension despite deducting contributions from his pay
Posted: 28/02/25
The latest news in brief and mandates from the past seven days
Posted: 28/02/2025
Utmost Life and Pensions has appointed Schroders to manage its nearly £400m annuity book, following its entry into the bulk purchase annuity (BPA) market
Posted: 28/2/25
The UK is at a "pivotal" moment for financial security in retirement, according to University of Manchester social gerontology professor, Debora Price
Posted: 28/02/2025
Pensions Age takes a look back at the top stories of the week, including regulatory updates, market trends, investment developments, and key industry movements
Posted: 28/02/25
The Pensions Ombudsman (TPO) has upheld a complaint against the NHS Business Services Authority (BSA) for failing to automatically provide an employee with a pension saving statement (PSS)
Posted: 27/02/2025
Campaign group Make My Money Matter has announced that it will be closing its doors following recent funding pressures
Posted: 27/2/25
Aviva’s retirement sales increased by 33 per cent in 2024 to £9.4bn, its full-year results have revealed
Posted: 27/02/25
The government has laid the secondary legislation for a new private assets onshore fund structure, the Reserved Investor Fund (RIF), with several fund managers expected to launch RIFs from 19 March 2025
Posted: 27/2/25
The People's Pension (TPP) has announced the appointment of Amundi and Invesco to manage £28bn in assets, with a focus on responsible investment
Posted: 27/02/2025
There is a “growing gulf” between master trust service standards, LCP has argued, with its analysis showing a 25 per cent difference in the range between the best and worst providers
Posted: 27/02/25
Preparedness for buy-in or buyout remains at the forefront of defined benefit (DB) pension scheme trustees’ minds, with 28 per cent citing it as a key barrier to pursuing their endgame strategy, up from 26 per cent a year ago, research from Standard Life has found
Posted: 27/2/25
The deficit for the BAA Pension Scheme fell to £99m at the end of 2024, following a a 0.9 per cent increase in the discount rate, Heathrow's latest final results have revealed
Posted: 26/2/25
Almost a third (32 per cent) of households with a main earner at a small or medium-sized enterprise are on track for a moderate income, compared to 53 per cent for those at large private companies, according to research by Hargreaves Lansdown
Posted: 26/02/25
"Unique financial pressures" are threatening the retirement prospects of Gen Z (ages 18-29), according to a new report from the Pensions Policy Institute (PPI)
Posted: 26/02/2025
The pension risk transfer market is set for a “record-breaking” year in 2025, according to Hymans Robertson
Posted: 26/02/2025
The Financial Conduct Authority (FCA) has granted approval for Schroders Greencoat to launch the UK’s first infrastructure Long-Term Asset Fund (LTAF) focused on the UK wealth market
Posted: 26/2/25
Industry experts have called on the Financial Conduct Authority (FCA) to introduce greater consistency and transparency through a number of reforms, as it considers what changes may be needed to aspects of its pensions regulatory framework
Posted: 26/2/25
Defined benefit (DB) pension transfer values fell in the middle of January 2025, before recovering “slightly” over the second half of the month, according to analysis by XPS Group
Posted: 26/02/25
Brightwell has begun its work as the administrator for the Mineworkers’ Pension Scheme (MPS) and has completed its first pensioner payroll run following a transition that took nearly a year
Posted: 25/2/25
An unnamed UK-based asset manager's pension scheme has completed a £111m bulk annuity purchase (BPA) transaction with M&G, securing the benefits of 466 pensioners and deferred members
Posted: 25/02/25
The Association of Consulting Actuaries (ACA) has written to the government outlining what it believes are the essential elements to support plans to 'unlock' defined benefit (DB) pension scheme surpluses
Posted: 25/02/25
The Continuous Mortality Investigation (CMI) has published a consultation seeking views on proposed changes to its Mortality Projections Model.
Its paper is consulting on proposed methods and core parameters for the next version of the model, following a review that sought to address concerns around the sustainability of the initial approaches taken following the Covid-19 pandemic
Its paper is consulting on proposed methods and core parameters for the next version of the model, following a review that sought to address concerns around the sustainability of the initial approaches taken following the Covid-19 pandemic
Posted: 25/2/25
Less than a third (28 per cent) of Gen X are on track to meet their retirement savings goals that would enable them to live 'comfortably' through retirement, according to research from Get Britain Pension Ready
Posted: 25/02/25
A bursting of the ‘Magnificent Seven’ tech bubble and a Eurozone sovereign debt crisis are the largest potential risks to defined benefit (DB) schemes in the UK, according to modelling from Van Lanschot Kempen
Posted: 25/2/25
Simpler pension transfers took an average of 10.5 days to complete in 2024, while the volume of transfers increased, the latest Origo data has revealed
Posted: 24/2/25
The trustee of the Photo‑Me International Plc Pension and Life Assurance Fund has completed a buy-in with Legal & General, securing defined benefit (DB) pension benefits for certain members of the fund
Posted: 24/2/25
Financial advisers are delivering suitability reviews in the vast majority of cases assessed in the Financial Conduct Authority’s (FCA) review of ongoing advice, the regulator has revealed
Posted: 24/2/25
XPS Pensions Group has announced that it has agreed to acquire UK insurance consultancy business Polaris Actuaries and Consultants Limited
Posted: 24/2/25
TPT Investment Management (TPTIM) has launched a new £170m global credit opportunities fund, which aims to target markets that "may not be as well-known"
Posted: 24/2/25
The 1973 Pension & Assurance Scheme of The Boys’ Brigade has secured a £4.5m full scheme buy-in with Just Group, insuring the benefits of 49 members, comprising 15 deferred members and 34 pensioner members
Posted: 24/2/25
The government has confirmed that the next valuation for all Local Government Pension Scheme (LGPS) funds, which will set the local employer contribution rates for the 2026-27 financial year, will take place next month (March 2025).
Industry experts have previously suggested that a review of LGPS employer contributions in England and Wales could bring significant changes as a result of recent funding level improvements
Industry experts have previously suggested that a review of LGPS employer contributions in England and Wales could bring significant changes as a result of recent funding level improvements
Posted: 21/2/25
Pensions Age takes a look back at the top stories of the week, including updates from The Pensions Regulator (TPR), growing support for the UK Stewardship Code, and adequacy concerns
Posted: 21/02/25
The latest news in brief and mandates from the past seven days
Posted: 21/02/2025
More than half (54 per cent) of UK adults are planning to adjust their retirement or estate planning in response to the government’s inheritance tax (IHT) changes on pensions
Posted: 21/2/25
Zedra has partnered with Heka Global on the launch of an AI tracing service, designed to reconnect pension scheme members with lost retirement savings
Posted: 21/2/25
The Pensions Regulator (TPR) has confirmed that it will be changing its approach to supervision and its regulation of the defined contribution (DC) market to make master trusts the "gold standard" in pension provision
Posted: 20/2/25
The Society of Pension Professionals (SPP) has seen a 40 per cent rise in the number of policy papers published this year, an increase from five guides and thought leadership pieces in 2023, to seven in 2024, its 2024/25 review has revealed
Posted: 20/02/25
The Financial Reporting Council (FRC) has been urged to keep a "robust focus" on sustainability in its stewardship code definition, amid concerns that the current proposed definition could undermine many of the other positive measures highlighted in the code
Posted: 20/2/25
"Notable" generational differences in retirement goals have been highlighted in research from Legal & General (L&G), which found that younger respondents aged 16-24 are the least optimistic, with less than a third (31 per cent) expecting a moderate retirement
Posted: 20/2/25
BAE Systems has published the results of its most recent triennial funding valuation for its main UK pension scheme, revealing that the scheme's surplus rose to £800m as at 31 March 2024
Posted: 20/02/2025
Centrica, an energy and services company, reduced the technical provisions deficit of its UK defined benefit (DB) pension scheme by 47 per cent, from £994m in March 2021 to £504m in March 2024, its triennial review has revealed
Posted: 20/02/25
Two fifths (40 per cent) of UK savers with a pension in a major master trust have additional savings with another master trust, research by the Pensions Data Project has revealed, raising concerns over pension fragmentation and the need for small pots consolidation
Posted: 20/02/25
Scottish Widows grew its workplace pensions assets under administration (AUM) by 17 per cent, to £108bn, in 2024
Posted: 20/02/2025
Nearly a third (31 per cent) of pension professionals are unclear about the government's defined contribution (DC) priorities, with particular confusion surrounding plans to bring pensions into the scope of inheritance tax (IHT), research from Sackers has found.
The research showed that there were mixed views about the government's 2025 pension priorities, with 62 per cent of respondents stating that while the government's defined contribution (DC) priorities are "clear", there is a lot happening all at once
The research showed that there were mixed views about the government's 2025 pension priorities, with 62 per cent of respondents stating that while the government's defined contribution (DC) priorities are "clear", there is a lot happening all at once
Posted: 19/2/25
The government has accepted all recommendations made by the Accelerated Settlement Technical Group, meaning that the UK will move to a ‘T+1’ standard for settling securities trades from 11 October 2027
Posted: 19/2/25
The rise in inflation to 3 per cent in January 2025, up from 2.5 per cent in December 2024, could have significant implications for pensions, particularly state pension increases under the triple lock
Posted: 19/02/25
Retirees could be at risk of emptying their pension nearly a decade early by taking cash lump sums, research from Legal & General (L&G) has found, with 46 per cent suggesting that they would take a lump sum out of their pension "simply because they could"
Posted: 19/7/25
Pension disengagement could cost workers over £500,000 in retirement, according to a report from PensionBee
Posted: 19/02/2025
Mercer has reached an agreement to acquire Secor Asset Management for an undisclosed amount
Posted: 19/2/25
Nearly half (48 per cent) of Brits would tell their younger selves to “start saving as early as possible,” according to Aegon’s latest Financial Priorities survey
Posted: 18/02/2025
TPT Investment Management (TPTIM) has launched a new £720m investment grade bond fund, designed to provide UK pension schemes with access to a wide range of investment opportunities in the public investment grade bond universe
Posted: 18/2/25
Two thirds (66 per cent) of Millennials are worried they are not saving enough for retirement, making them the most concerned generation, Standard Life’s Retirement Voice report has revealed
Posted: 18/02/25
Institute for Fiscal Studies (IFS) research economist and report author, Laurence O’Brien, takes a closer look at recent research on the small pots epidemic, arguing that it is "high time" for the government to legislate for automatic consolidation
Posted: 18/2/25
Backing for the UK Stewardship Code has continued to grow over the past year, as the Financial Reporting Council (FRC) confirmed that there are now 297 signatories to the code, representing £52.3trn in assets under management
Posted: 18/2/25
The Geoghegan & Company Staff Pension Scheme has completed a £1.5m full scheme buy-in with Just Group, securing the benefits of all eight deferred members and eight pensioner members
Posted: 18/02/2025
Less than four in 10 (36 per cent) households are on track for a moderate retirement income, with self-employed, single parents, and renters the furthest off track, according to Hargreaves Lansdown's Savings and Resilience Barometer
Posted: 17/02/25
The Pensions Regulator (TPR) has called on pension schemes, advisers and administrators to engage with it early to prevent problems arising later down the line
Posted: 17/2/25
The sole trustee market should anticipate a persistent slowdown in growth over the longer term, Hymans Robertson’s latest paper has suggested
Posted: 17/02/2025
The Work and Pensions Committee (WPC) has written to the new Pensions Minister, Torsten Bell, to request further information on the government's consideration of issues surrounding the non-indexation of pre-1997 rights
Posted: 17/2/25
The Pensions Ombudsman (TPO) has upheld a complaint against George Tidbury for failing to pay contributions into a worker’s Nest pension due to maladministration
Posted: 17/02/25
The Deutz Retirement Benefits Plan has completed a £16m buy-in with Just, securing the benefits of 181 scheme members, including 70 deferred members and 111 pensioners
Posted: 17/2/25
Pensions Age reporter, Paige Perrin, looks at how savers can show their pensions some love this Valentine's Day and how to get what they really want out of one of the longest term relationships of their lives
Posted: 14/02/25
The Institute of Chartered Accountants in England and Wales (ICAEW) has issued new guidance on the Virgin Media judgment, acknowledging that there is currently much uncertainty about how the ruling should be reflected in scheme and employer reporting
Posted: 14/2/25
Pensions Age takes a look back at the top stories of the week, including industry updates on climate action, research findings on gender and knowledge gaps, and conference news
Posted: 14/2/25
Pension scheme trustees must remain focused on sustainable investment, the Investment Consultants Sustainability Working Group (ICSWG) has said, emphasising that regulatory burdens should not distract from impactful investment decisions
Posted: 14/02/25
The Scottish Funding Council has confirmed that it will provide additional funding for universities to support the change to the Scottish Teachers’ Pension Scheme (STPS) and NHS Pension Scheme employer contribution rates for the period April 2024 to March 2025
Posted: 14/2/25
An unnamed UK pension scheme has completed an £18m buy-in with Utmost, fully insuring the benefits of over 270 members of the scheme
Posted: 14/2/25
The latest news in brief and mandates from the past seven days
Posted: 14/2/25
The trustee of the Low & Bonar Group Retirement Benefits Scheme (Low & Bonar GRBS) has completed a £50m full buy-in, covering all remaining uninsured members of the scheme
Posted: 14/2/25
The Pensions Regulator (TPR) has revealed that Sarah Smart has decided to step down as chair of the regulator in July 2025
Posted: 13/2/25
Pension professionals have broadly welcomed the Financial Conduct Authority’s (FCA) consultation to introduce targeted support for pensions as part of the Advice/Guidance Boundary Review but raised concerns over regulatory restrictions and costs
Posted: 13/2/25
The government's proposed reforms to the Local Government Pension Scheme (LGPS) proposed present “significant challenges” to administering authorities (AAs), according to Quantum Advisory
Posted: 13/02/2025
Pension schemes and providers have urged asset managers to evolve and strengthen their climate stewardship strategies in a new Asset Owner Statement on Climate Stewardship, highlighting the "imperative" need for climate action
Posted: 13/2/25
Price, administrative experience, and transaction timescale flexibility are the top factors driving insurer selection decisions in 2025, according to research carried out by Mercer
Posted: 13/02/2025
Nearly three-quarters (72 per cent) of UK employees said it was important that their employer offered a 'responsibly invested pension', research from Scottish Widows has revealed
Posted: 13/2/25
Pension providers are continuing to fail to address their role in financing the climate and nature crisis, posing a "serious risk" to the retirement of British savers, according to a report from Make My Money Matter (MMMM)
Posted: 12/02/2025
Just over one in eight (13 per cent) young people could not answer a question correctly in a four-part true or false pension quiz, research from the Money and Pensions Service (Maps) has found
Posted: 12/2/25
There is a “stubborn” gender pensions gap across all ages with women struggling to build pension wealth throughout their working life, analysis from Interactive Investor has revealed
Posted: 12/2/25
The Financial Conduct Authority (FCA) should provide further clarity on how trust-based pension schemes will be able to confidently make the most of targeted support, the Association of Consulting Actuaries (ACA) has said
Posted: 12/2/25
The Finning Pension Scheme has secured a £250m buy-in with Standard Life, covering the benefits of all 2,170 scheme members
Posted: 12/02/2025
Sales of pension annuity contracts increased by 24 per cent in 2024 to 89,600, surpassing last year’s total and reaching a new ten-year high, figures from the Association of British Insurers (ABI) have revealed
Posted: 12/02/2025
While UK savers are open to AI playing a role in pension customer support, they are not ready for a fully automated experience, research from PensionBee has revealed
Posted: 12/2/25
The government has been urged to take action to stop and reverse the proliferation of small pension pots, after a report from the Institute for Fiscal Studies (IFS) suggested that there is a strong case for deferred small pension pots to be consolidated by default
Posted: 12/2/25
The Pensions Regulator (TPR) issued six section 72A (s72A) requests to pension schemes in 2024 requiring people to attend interviews, compared to just one s72A request between 2018 and Q1 2024, according to new data obtained by Eversheds Sutherland
Posted: 11/2/25
The aggregate surplus of defined benefit (DB) pension schemes rose to £239bn in January 2025, as DB scheme funding continued to strengthen, the Pension Protection Fund's (PPF) 7800 Index has revealed
Posted: 11/2/25
Those running UK defined contribution (DC) pension schemes are still too often underestimating the impact of gilt market volatility, Aon has argued, suggesting this could have a “significantly” adverse impact on member outcomes
Posted: 11/02/25
Defined contribution (DC) master trust providers are directing an outsized portion of illiquid investments towards UK-based opportunities, with the majority planning to invest between 21 per cent to 30 per cent domestically and some committing over 40 per cent, Isio research has found
Posted: 11/2/25
Men over 16 have a median occupational defined contribution (DC) pension pot of £10,000, whereas women in the same age group have £5,000, suggesting a "significant" gap in pension savings between genders, research from Broadstone has revealed
Posted: 11/2/25
The BAL section of the Tui Group UK Pension Trust has completed a £370m buy-in with Legal & General (L&G) Assurance Society, meaning that all section benefits are now fully secured
Posted: 11/2/25
UK-listed companies with defined benefit (DB) pension schemes issued 81 profit warnings in 2024, the highest annual volume since 2020, EY-Parthenon has revealed
Posted: 10/02/2025
More than half (52 per cent) of UK finance decision makers believe defined benefit (DB) pension schemes are more likely to run on for longer as a result of the liability-driven investment (LDI) crisis, research by Law Debenture has revealed
Posted: 10/2/25
Total global pension assets rose to a record high of USD 58.5trn in 2024, driven by growth in the largest defined contribution (DC) markets, analysis from the Thinking Ahead Institute (TAI) has revealed
Posted: 10/2/25
A changing DC market
In our latest Pensions Age video interview, Aon DC senior partner and head of DC consulting, Ben Roe, speaks to Laura Blows about the latest changes and challenges within the DC sector
Being retirement ready
Gavin Lewis, Head of UK and Ireland Institutional at BlackRock, talks to Francesca Fabrizi about the BlackRock 2024 UK Read on Retirement report, 'Ready or not. How are we feeling about retirement?’
The role of CDC
In the latest Pensions Age podcast, Laura Blows speaks to TPT Retirement Solutions Chief Client Strategy Officer, Andy O’Regan, about the role of collective DC (CDC) within the UK pensions space
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
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