The Pensions Management Institute (PMI) has appointed Mortality Manifest (MM) as an Insight Partner to help schemes improve their pension data capabilities
Posted: 11/11/24
WTW has secured five UK defined benefit (DB) investment advisory appointments over the past nine months, totalling £30bn in assets
Posted: 11/11/24
Retirees with a guaranteed income reported higher levels of satisfaction and faced fewer affordability challenges, a study from Legal & General and the Happiness Research Institute has found
Posted: 11/11/24
Plans to further consolidate the Local Government Pension Scheme (LGPS) could 'unlock' more than £200bn in private investment in infrastructure and help crowd in "huge" sums from private investors, analysis from Pension Insurance Corporation (PIC) has revealed
Posted: 11/11/24
Industry experts have urged Chancellor, Rachel Reeves, not to overlook defined benefit (DB) pension schemes in her upcoming Mansion House speech, as speculation over the potential pension reforms included in the speech has continued to grow.
Whilst the Mansion House speech is expected to focus on defined contribution (DC) and public sector DB schemes, industry experts argued that Reeves should use the speech as an opportunity to provide "much needed clarity" on DB surplus sharing options
Posted: 11/11/24
Fulcrum Asset Management has received regulatory approval to launch its first commingled Long-Term Asset Fund (LTAF), the WS Fulcrum Diversified Private Markets LTAF
Posted: 11/11/24
Aegon has announced its intention to launch a commercial pension dashboard, following the Financial Conduct Authority’s (FCA) publication of a regulatory framework for pension dashboard service (PDS) firms
Posted: 11/11/24
The combined IAS19 pensions surplus for defined benefit (DB) UK pension schemes of FTSE100 companies increased in October to around £65bn, according to LCP's Pensions Explorer
Posted: 8/11/24
The latest news in brief and mandates from the past seven days
Posted: 8/11/24
The Financial Conduct Authority (FCA) has published its final rules and regulatory framework for pensions dashboard service (PDS) firms, in what has been highlighted as a "big step forwards" for the programme
Posted: 8/11/24
The first half of 2024 saw a record number of bulk purchase annuity (BPA) deals completed, driven by a “surge” in smaller transactions, according to analysis from Aon
Posted: 8/11/24
An unnamed pension scheme in the mechanical and electrical industry has completed a £2m full buy-in with Legal and General, securing the benefits of 16 pensioners and 3 deferred members
Posted: 8/11/24
The average time to buyout for FTSE350 defined benefit (DB) pension schemes fell to 5.2 years at the end of October, marking the biggest monthly drop seen since February, analysis from Barnett Waddingham has revealed
Posted: 8/11/24
A ‘low level’ of defined benefit (DB) pension provision may make a return to UK workplace pension saving, actuary James Smith has predicted
Posted: 7/11/24
The Pension Protection Fund (PPF) has published its fifth annual Responsible Investment Report, which outlined its progress in 2023/24 on responsible investment
Posted: 7/11/24
TPT Investment Management (TPTIM) has launched a new liability driven investment (LDI) solution for UK defined benefit (DB) pension schemes, in conjunction with Insight Investment
Posted: 7/11/24
UK defined benefit (DB) pension schemes reached a new record funding level in October, with a surplus of £330bn, PwC's Buyout Index has revealed
Posted: 7/11/24
There is “still a lot of work to do” to effectively communicate and educate scheme members of the Royal Mail collective defined contribution (CDC) scheme, Royal Mail Group director of pensions, Angela Gough, has said
Posted: 7/11/24
The Atradius UK Pension Scheme has completed a £190m buy-in with the Pension Insurance Corporation (PIC)
Posted: 7/11/24
The Halma Group Pension Plan and the Apollo Pension and Life Assurance Plan have secured £250m of buy-ins with Standard Life, securing retirement benefits for 2,200 pension scheme members
Posted: 7/11/24
The Department for Work and Pensions (DWP) had repaid £736m to individuals impacted by historical state pension underpayments as of 30 September 2024, having identified 119,050 underpayments
Posted: 7/11/24
More than three quarters (78 per cent) of asset managers in the UK and US with a presence in Europe are considering launching a Long-Term Asset Fund (LTAF) amid increased investor demand for private markets access
Posted: 7/11/24
The European Pensions Awards 2025 are open for entries
Posted: 7/11/24
Natwest Group has agreed a buy-in transaction with a third party insurer, with around a third of the main section of its defined benefit (DB) pension scheme now covered by insurance policies
Posted: 7/11/24
Pensions Minister, Emma Reynolds, has said the government intends to present regulations to extend collective defined contribution (CDC) provision beyond single or connected schemes to parliament “as soon as [they] are able to”
Posted: 7/11/24
The deadline for submitting entries to the Pensions Age Awards 2025 has been extended to the 15 November 2024
Posted: 6/11/24
Pension specialist for defined benefit (DB) and hybrid schemes, Cartwright, has announced the first phase of a fresh brand identity for the firm
Posted: 6/11/24
Marks & Spencer has announced that it is in discussions with the trustees of its UK defined benefit (DB) pension scheme, after its 2024 valuation indicated that the scheme continues to be well funded
Posted: 6/11/24
Nearly half (47 per cent) of Brits have expressed concern about the government's plans to bring pensions into the scope of inheritance tax, according to research by PensionBee
Posted: 6/11/24
A change in key trustee or company stakeholders could “significantly” impact a defined benefit (DB) pension scheme’s endgame investment strategy, Hymans Robertson has warned
Posted: 6/11/24
The West Bromwich Building Society Staff Retirement Scheme has completed a £70m buy-in with Canada Life, securing the benefits of all uninsured scheme members, including around 490 deferred members and 400 pensioner members
Posted: 6/11/24
Half-hedged defined benefit (DB) pension scheme funding improved in October, leading to a reasonable surplus, according to analysis from Broadstone
Posted: 6/11/24
Defined benefit (DB) pension scheme sponsors have been urged to be proactive and take advantage of new opportunities, with a report from LCP highlighting a number of new endgame options that are available under the revised DB Funding Code
Posted: 6/11/24
News that a UK pension scheme has bought into Bitcoin is not expected to spark a "stampede" into the asset class, AJ Bell has said, raising specific concerns around the idea of Bitcoin as a diversifier
Posted: 5/11/24
Not having children could boost a saver’s pension pot by over 50 per cent, analysis from Standard Life has revealed
Posted: 5/11/24
A group of firms from the UK wealth management industry has written to asset management companies, calling on them to ‘embrace’ net zero
Posted: 5/11/24
Further clarifications and streamlining are needed around the government's plans to bring pensions into the scope of inheritance tax, industry experts have said, amid concerns that the changes could cause a "bureaucratic nightmare for grieving families"
Posted: 5/11/24
Aon has taken on an additional £3.5bn in assets under management (AUM) with three new clients for its UK outsourced chief investment officer (OCIO) service
Posted: 5/11/24
Scottish Widows has introduced the ability for workplace pension customers to access ready-made investments via its app, in an effort to make investing easier for savers
Posted: 4/11/24
Mercer, a Marsh McLennan business, has completed its acquisition of long-term savings specialist Cardano, for an undisclosed amount
Posted: 4/11/24
The Pensions Ombudsman (TPO) has upheld a complaint against Vermuyden Care Limited for failing to pay contributions into a worker’s Nest pension due to maladministration
Posted: 4/11/24
Muse and Pensions Insurance Corporation (PIC) have agreed a £54m affordable housing deal with Homes England, the government's housing and regeneration agency
Posted: 4/11/24
The trustees of an unnamed UK pension scheme have made a 3 per cent allocation to Bitcoin, in what is thought to be a "first of its kind" investment in the UK pensions industry
Posted: 4/11/24
The Local Government Pension Scheme's (LGPS) Scheme Advisory Board (SAB) has shared legal advice for LGPS funds, after being made aware of concerns that LGPS funds could be investing in “companies in violation of international law”
Posted: 4/11/24
The pensions sector should go "beyond" Taskforce on Climate-Related Disclosures (TCFD) reporting requirements and capture the interdependencies between climate, nature, and society, the trustees of the Legal and General (L&G) Mastertrust have said
Posted: 4/11/24
The latest news in brief and mandates from the past seven days
Posted: 1/11/24
Pension schemes should plan ahead to avoid delays during “the home stretch” of their risk transfer journeys, LCP has argued
Posted: 1/11/24
Fears of a repeat of the 2022 gilt market crisis, which saw rising yields trigger a liquidity squeeze for many defined benefit (DB) pension schemes, are "not justified", according to partner and head of DB endgame strategy at Barnet Waddingham, Ian Mills
Posted: 1/11/24
The Pensions Ombudsman (TPO) has upheld a complaint against Figril Limited for failing to pay contributions into a worker’s Nest pension due to maladministration
Posted: 1/11/24
The Pensions Regulator (TPR) interim director of supervision, David Walmsley, discusses the regulator's plans to expand engagement with administrators to drive better outcomes for savers
Posted: 1/11/24
The Financial Conduct Authority (FCA) has banned Vintage Investment Services (Vintage) partners, Steven Hodgson and Paul Adams, from advising any customers on pension transfers and opt outs
Posted: 1/11/24
The People’s Pension delivered a 53 per cent reduction in total carbon emissions within its Global Investments Fund in the past 12 months, its annual Taskforce on Climate-Related Disclosures (TCFD) report has revealed
Posted: 31/10/24
The Pensions Scams Industry Group (PSIG), established in 2014 to help protect pension scheme members from scams, has launched a petition to change how HMRC treats pension and investment fraud victims
Posted: 31/10/24
Over half (60 per cent) of institutional investors and managers think the UK government is “on track” to meet its goal of reducing emissions by 68 per cent by 2030, analysis from Pensions for Purpose found
Posted: 31/10/24
Industry experts have broadly welcomed the omission of any "drastic" pension tax changes in the Autumn Budget, although there are concerns that this could have been a “missed opportunity” for some broader areas of reform
Posted: 31/10/24
The Armfield Limited Pension and Life Assurance Scheme has completed a £7m buy-in transaction with Just Group, securing the retirement benefits of the scheme's 24 pensioners and 15 deferred members
Posted: 31/10/24
The Transition Plan Taskforce (TPT) has officially concluded its work and published its final report, summarising the next steps for advancing transition planning globally
Posted: 31/10/24
Chancellor, Rachel Reeves, has announced plans to reduce tax-free overseas transfers of tax relieved UK pensions, and to update the requirements for European Economic Area Overseas Pension Schemes
Posted: 31/10/24
Chancellor, Rachel Reeves, has confirmed that the state pension will rise by 4.1 per cent from April 2025, to match the average earnings element of the triple lock
Posted: 30/10/24
Chancellor, Rachel Reeves, has announced plans to remove the concession for pension pots to be passed on to anyone free of inheritance tax (IHT) as part of her Autumn Budget
Posted: 30/10/24
In the Autumn Budget, Chancellor, Rachel Reeves, has committed to keeping Labour's promise to the Mineworkers' Pension Scheme (MPS) members, delivering a 32 per cent boost to the annual pensions of 112,000 former mineworkers
Posted: 30/10/24
Chancellor, Rachel Reeves, has announced plans to increase the rate of employer National Insurance contributions (NIC), in a move that industry experts have warned could represent a “major setback” to hopes of progress on Britain’s undersaving crisis
Posted: 30/10/24
The Universities Superannuation Scheme (USS) has announced that it will offer a Pension Committee internship to a trainee from Standard Life’s Trustee Accelerator Programme (TAP)
Posted: 30/10/24
Isio has announced the completion of its investment from Aquiline Capital Partners, focused on supporting Isio’s next phase of growth and delivering value for clients
Posted: 30/10/24
The House of Commons has formally appointed the Work and Pensions Committee (WPC) membership
Posted: 30/10/24
ECI Partners has made an investment in Independent Governance Group (IGG), marking an initial exit for LDC
Posted: 30/10/24
The Pensions Ombudsman (TPO) has upheld a complaint against Campbell Meyer & Co Limited for failing to pay contributions into a worker’s pension due to maladministration
Posted: 30/10/24
The St Modwen Pension Scheme has completed an £18m full-scheme buy-in with Just Group
Posted: 29/10/24
The Pension Protection Fund (PPF) has confirmed that marginally overfunded defined benefit (DB) schemes with less than £50m in liabilities will now have the option to use bespoke discount rate for section 143 (s143) valuations
Posted: 29/10/24
Pension provider and retirement services firm Alltrust Services has acquired the self-invested personal pension (SIPP) business of PSG SIPP, excluding its Unity SIPP scheme
Posted: 29/10/24
Changes to pension lump sums are the Budget measure that would cause the biggest disruption, according to a new poll of advice professionals conducted by Abrdn
Posted: 29/10/24
Defined benefit (DB) pension transfer activity increased slightly in September, with an annualised rate of 15 members in every 1,000 transferring their benefits to alternative arrangements, XPS data has revealed
Posted: 29/10/24
The Deutsche Bank Pension Scheme has completed a £1.1bn full buy-in with Legal & General (L&G), securing the retirement benefits of around 4,000 members
Posted: 29/10/24
The Wolseley Group has announced that the Aon Mastertrust will be the new pension provider for its £230m defined contribution (DC) scheme, which has over 13,000 members
Posted: 28/10/24
The RAC (2003) Pension Scheme has completed a £1.3bn full buy-in with Aviva, securing retirement benefits for all of the scheme's 19,000 members
Posted: 28/10/24
The Pensions Ombudsman (TPO) has upheld a complaint against Simon Marshall Holdings, ordering the employer to pay the complainant £1,000 for the “serious” distress and inconvenience it caused
Posted: 28/10/24
Negative changes to pensions taxation in the Budget could “derail” the government’s chances of meeting its pledge to cut National Health Service (NHS) waiting lists, the British Medical Association (BMA) warned
Posted: 28/10/24
More than a third (38 per cent) of pre-retiree defined benefit (DB) pension scheme members do not feel confident about planning their retirement, according to research from Just Group, which highlighted a "clear need" for greater support at retirement
Posted: 28/10/24
The Pensions Regulator (TPR) has announced the appointment of three new permanent executive directors, after receiving formal approval from Pensions Minister, Emma Reynolds
Posted: 25/10/24
The latest news in brief and mandates from the past seven days
Posted: 25/10/24
The “vast majority” of pension schemes are confident in their ability to securely integrate with the pensions dashboards, according to a survey of Pensions and Lifetime Savings Association (PLSA) members
Posted: 25/10/24
The Department for Work and Pensions (DWP) should provide "urgent" clarity on issues arising from the Virgin Media and NTL case, the Pensions and Lifetime Savings Association (PLSA) has said
Posted: 25/10/24
Arthur J. Gallagher & Co has announced the acquisition of London-based investment consulting firm, Redington
Posted: 25/10/24
There has been no long-term negative impact on the nation’s defined benefit (DB) pensions schemes from the 2022 liability-driven investment (LDI) crisis, research from PwC has suggested, although data management could be heading for a "perfect storm"
Posted: 25/10/24
With Scams Awareness Week in full swing, Paige Perrin explores the critical role of the pension industry in fighting scams and why its efforts are essential in protecting members
Posted: 25/10/24
There is "strong" demand for run-on from defined benefit (DB) pension trustees, with nearly two fifths (38 per cent) wanting the government to encourage surplus creation instead of buyout, research from Charles Stanley Fiduciary Management has found
Posted: 25/10/24
The number of complaints received by The Pensions Ombudsman (TPO) last year dropped from 7,280 in 2022/23 to 6,923 in 2023/24, its Annual Report and Accounts has found
Posted: 24/10/24
The Pension Protection Fund (PPF) has delivered “strong investment performance” over the past year, as investment returns helped its reserves grow from £12.1bn last year to £13.2bn, its 2023/24 Annual Reports and Accounts has revealed
Posted: 24/10/24
HMRC has provided further clarity on the tax position when refunding a defined benefit (DB) pension scheme surplus to employers, confirming that the 25 per cent tax payable is based on the surplus within the pension scheme
Posted: 24/10/24
Pension scheme trustees and administrators are the first line of defence against pension scammers, The Pensions Regulator (TPR) has said, urging the industry to adopt higher standards of anti-scam practice to prevent fraudsters reaching savers
Posted: 24/10/24
Average annuity rates for a healthy 65-year-old have increased by 2.5 per cent since January 2024, according to the Standard Life annuity rate tracker
Posted: 24/10/24
The aggregate funding level of Local Government Pension Scheme (LGPS) funds in England and Wales remained at 112 per cent in the third quarter of 2024, analysis from Isio has revealed
Posted: 24/10/24
HMRC repaid more than £44m to people who overpaid tax when they flexibly accessed their pensions in Q3 2024, the latest government Pension Schemes Newsletter has revealed
Posted: 24/10/24
The value of lost pension pots in the UK has risen by 60 per cent, or £12bn, since 2018, with around £31.1bn lying in unclaimed, inactive, or lost pension pots, research from the Pensions Policy Institute (PPI), sponsored by the Pension Attention campaign, has found
Posted: 24/10/24
Nearly one in five (19 per cent) UK adults felt certain they have lost or probably lost a pension pot, equating to around 8.8 million people, analysis by the Centre for Economics and Business Research, on behalf of PensionBee, has found
Posted: 24/10/24
'Generation rent' are facing a “ticking time bomb” in retirement due to unaffordable rents and inadequate pensions, according to a report from the International Longevity Centre (ILC), commissioned by Brightwell
Posted: 23/10/24
Calls to cut the Pension Protection Fund's (PPF) levy to zero have continued to grow, with industry organisations arguing that the PPF should reduce its levy even in the absence of legislative changes
Posted: 23/10/24
Pension savers need more support in navigating the decumulation process to help them make the right decisions, according to Standard Life, with the government and regulators urged to consider three ‘key policy asks’ to help address challenges
Posted: 23/10/24
The Pension Tracing Service received 31,505 calls between 1 January and 24 May this year, putting it on course to overtake last year's record of 63,381
Posted: 23/10/24
A global coalition of investors, including 27 pension funds and asset owners, has urged governments around the world to take "ambitious" policy and regulatory action to halt and reverse global biodiversity loss
Posted: 23/10/24
The pensions industry is split on whether run-on is a viable endgame option for defined benefit (DB) schemes, according to a poll
Posted: 23/10/24
The investment strategy Now Pensions implemented in Q1 2024 has enabled the master trust to be “on track” to achieve net zero by 2050 and a 50 per cent reduction by 2030, based on 2019 levels, the provider has stated
Posted: 22/10/24
The Pensions Regulator (TPR) has published its new digital, data and technology strategy, outlining how TPR and the industry should adapt to, and embrace, evolving technology and a changing pensions market to drive better saver outcomes
Posted: 22/10/24
More than half (55 per cent) of annuity buyers in the past year have shopped around for the best terms and switched from their existing provider, Origo data has revealed
Posted: 22/10/24
Financial advisers have witnessed a surge in queries regarding pension taxation and wealth protection ahead of the much-anticipated Budget on 30 October, according to AJ Bell
Posted: 22/10/24
Industry experts have argued that the Chancellor’s Autumn Budget will “test the seriousness” of the government’s approach to improving pension outcomes, with concerns raised over the long-term impact of raising employers’ national insurance contributions (NIC)
Posted: 22/10/24
Pensions Minister, Emma Reynolds, has announced that the Pensions Dashboards Programme (PDP) will be prioritising work on the launch of the MoneyHelper dashboard service, before turning to the work of connecting commercial dashboard services
Posted: 22/10/24
The Broadcasting Support Services Pension Scheme has completed a £6m buyout with Aviva, securing retirement benefits for 59 members
Posted: 22/10/24
The total assets under management (AUM) at the world’s 500 largest asset managers reached USD 128trn at the end of 2023, according to research from the Thinking Ahead Institute
Posted: 21/10/24
The trustee of the Rotork Pension and Life Assurance Scheme has agreed a £70m buy-in transaction with Aviva, covering the pension benefits for 19 current pensioners and dependants and 322 deferred members
Posted: 21/10/24
Chancellor, Rachel Reeves, has held the first meeting of the British Infrastructure Taskforce, as the government looks to 'unlock' private investment by building business confidence in UK infrastructure investments
Posted: 21/10/24
The Pensions Regulator (TPR) has announced plans for two new regulatory approaches as part of its push to ensure that all savers get good outcomes from pensions
Posted: 21/10/24
Pensions dashboards have “lots of flaws, and lots of gaps”, and their “one-size-fits-all” approach will not help improve awareness amongst those that struggle to engage with their pensions, Isio head of benefit design and change, Scott Kendrick, has warned
Posted: 21/10/24
Run-on is almost as popular as buyout as a defined benefit (DB) endgame strategy, State Street Global Advisors’ (SSGA) survey, in partnership with Van Lanschot Kempen and Clara Pensions, has found
Posted: 21/10/24
The Pensions Regulator (TPR) has begun contacting pension schemes to urge them to improve their data quality in the run up to pensions dashboards’ launch, warning that it “will challenge those that are not able to demonstrate how they meet [its] expectations"
Posted: 21/10/24
The latest news in brief and mandates from the past seven days
Posted: 18/10/24
The Pensions Regulator (TPR) and the Financial Conduct Authority (FCA) have confirmed that further refinements to the proposed value for money framework are expected, emphasising that "nothing is set in stone" at this point
Posted: 18/10/24
Vidett independent trustee, Mike Birch, discusses the challenging situation facing pension scheme trustees at UK water companies, particularly given the recent financial strains faced by Thames Water and the questions surrounding the future of the wider UK water industry
Posted: 18/10/24
More than two thirds (69 per cent) of UK adults believe retiring in your 60s will become a ‘thing of the past’, according to a survey from Canada Life
Posted: 18/10/24
The first half of 2024 was a "record-breaking" period in the UK pension risk transfer market, which saw an "unprecedented" number (134) of buy-ins with an overall value of £15.2bn, Hymans Robertson has found
Posted: 18/10/24
The Pensions and Lifetime Savings Association (PLSA) will “continue to advocate alongside the Department for Work and Pensions” (DWP) on their guided retirement income choices, PLSA senior policy lead defined contribution, master trusts and standards, Rurai Grant, has said
Posted: 17/10/24
More than a third (36 per cent) of pension professionals would prefer the government apply national insurance (NI) to employer pension contributions, if pensions need to contribute to the overall tax saving, a poll at the PLSA Annual Conference 2024 has found
Posted: 17/10/24
Pension funds’ shift away from investing in domestic equities and companies has contributed to the decline of small businesses in the UK, research from Abrdn haa suggested, prompting calls policy changes
Posted: 17/10/24
Industry experts have argued that defined contribution (DC) is “broken”, suggesting that a conversation at board room level about this could create change
Posted: 17/10/24
The UK can learn from Australia on what to avoid when reforming its pension system, rather than just replicating the Australian model, according to Hostplus former group executive, Paul Watson
Posted: 17/10/24
Three in five retirees (62 per cent) with a pension pot started planning their pension income in the final year before retirement, according to a study from Legal & General Retail Retirement
Posted: 17/10/24
Aon has launched the Zone framework to support pension schemes with decision-making as the industry moves into a new environment, where improved funding levels provide more endgame options
Posted: 17/10/24
Defined contribution (DC) pension scheme trustees need to listen to members “in the right way” to meet their pension expectations, Now Pensions head of DC platform, David Bird, has emphasised
Posted: 16/10/24
The Pensions Regulator (TPR) has announced plans to extend its regulatory approach with professional trustee firms, with plans to form new relationships with the 10 largest professional trustee firms before Christmas
Posted: 16/10/24
The Department for Work and Pensions (DWP) is looking at the role collective defined contribution (CDC) pensions can play in decumulation as it considers the next step for CDC
Posted: 16/10/24
Artificial intelligence (AI) can create ‘dangerous’ errors when answering pension questions, potentially leading people towards scams, Quietroom development lead, Joe Craig, has warned
Posted: 16/10/24
More than half (52 per cent) of vulnerable defined benefit (DB) pension scheme members worry about money when thinking about retirement, a survey from Just Group has shown
Posted: 16/10/24
The majority (92 per cent) of industry experts think that members should have a default retirement pathway, according to a poll conducted at the PLSA Annual Conference,
Posted: 16/10/24
Nearly a third (31 per cent) of defined benefit (DB) pension schemes have already reached endgame, according to research from Aon
Posted: 16/10/24
Pension transfer times have reached their lowest level since the end of the pandemic in 2021, despite a continuous rise in transfer volumes, data from the OrigoTransfer Index has found
Posted: 16/10/24
Smart Pension has announced that the Crystal Trust has been consolidated into the Smart Pension master trust
Posted: 16/10/24
The Pensions and Lifetime Savings Association (PLSA) has said the value for money framework needs more work, warning that its breadth and complexity risks undermining saver outcomes
Posted: 16/10/24
Workplace pensions lack an objective and are in need of reframing to ensure that savers understand what to expect from the system, SEI managing director, defined contribution, Steve Charlton has argued
Posted: 16/10/24
Financial inclusion is the “next biggest risk” that the pensions industry needs to grapple with, according to Standard Life senior workplace proposition manager and master trust DE&I lead, Femi Adigun
Posted: 16/10/24
The state pension is set to rise by £473 under the triple lock, after the Office for National Statistics revealed that the Consumer Price Index measure of inflation stood at 1.7 per cent in September
Posted: 16/10/24
Industry bodies should have more “drive” to get online and into a space that young people are, Aviva Wealth Academy lead, Mesoo Ubadigha has argued
Posted: 16/10/24
Redefining the government’s key debt measure in its Budget rules would “unlock” pension investment in the green transition, according to COP26 president and former UK Secretary of State for Business, Energy and Industrial Strategy, Alok Sharma
Posted: 16/10/24
Clara-Pensions has appointed RSM UK as its audit partner
Posted: 16/10/24
Pensions Minister, Emma Reynolds, has confirmed that the government is still considering a potential public sector consolidator (PSC), with further updates on this, as well as the work to improve pension transfer regulations, expected “in the coming months"
Posted: 15/10/24
Pensions Minister, Emma Reynolds, has refused to rule out the option of mandating pension investments as part of the push to encourage greater pension investment in UK growth
Posted: 15/10/24
The industry needs to think quite “holistically” about adequacy and how it wants to address this going forward, Pensions Policy Institute (PPI) director, Chris Curry has said
Posted: 15/10/24
Pensions Minister, Emma Reynolds, has confirmed that the initial findings from the government’s pensions investment review will be shared in an interim report in 'autumn' this year, with auto-enrolment reforms to be looked at as part of the second phase of the review.
Speaking at the Pensions and Lifetime Savings Association (PLSA), Reynolds confirmed that the government is currently working through responses to its recent pension investment review call for evidence, with over 200 industry responses received
Posted: 15/10/24
The government remains “steadfast” in its commitment to delivering pensions dashboards, Pensions Minister, Emma Reynolds, has said
Posted: 15/10/24
The UK has fallen out of the Mercer CFA Institute Global Pension Index 2024 top ten, ranking 11 in the latest index, with a score of 71.6
Posted: 15/10/24
The Financial Conduct Authority (FCA) has announced plans to launch two consultations relating to the Advice/Guidance Boundary Review next year
Posted: 15/10/24
Carne Group and WTW have gained regulatory approval for the launch of a private equity-focused Long Term Asset Fund (LTAF)
Posted: 15/10/24
Chancellor, Rachel Reeves, has outlined the next steps for the National Wealth Fund (NWF) and the new British Growth Partnership, in a move that is expected to release "hundreds of millions" of pension fund investment
Posted: 14/10/24
The Pensions Regulator (TPR) has urged pension scheme trustees to go beyond minimum compliance with environmental, social and governance (ESG) duties, as it shared new resources on ESG considerations
Posted: 14/10/24
The government should back its UK growth mission with a “bold and creative” stance on pension fund investment that will benefit UK pension savers, the Pensions and Lifetime Savings Association (PLSA) has said
Posted: 14/10/24
With the Pension Attention campaign back in full swing for its third year, Pensions Age chats with this year's spokespeople, reality TV star, Gemma Collins, and money expert, Iona Bain, about the lessons they've taken away from the campaign
Posted: 14/10/24
With the value for money (VFM) consultation due to close later this week, industry experts have argued that several components of the VFM requirements are “overly complicated” and “inflexible”
Posted: 14/10/24
British adults’ confidence in their retirement prospects has fallen slightly ahead of what is expected to be a ‘painful’ first Budget from the new Labour government, analysis from PensionBee has revealed
Posted: 14/10/24
Nest has appointed WTW and Hymans Robertson to help develop a new retirement income offering for defined contribution (DC) retirees
Posted: 14/10/24
More than half (51 per cent) of non-retired workers think that workplace pension contributions should increase, amid signs that the cost-of-living crisis could be easing, analysis from the Pensions and Lifetime Savings Association (PLSA) has revealed
Posted: 14/10/24
The Pensions Administration Standards Association (PASA) has released a new Dashboards Toolkit in response to a need for further help in implementing dashboard responsibilities
Posted: 14/10/24
Nearly two thirds (64 per cent) of individuals aged 50-59 would be interested in receiving targeted support suggestions from regulated firms, according to research by Aegon
Posted: 14/10/24
The latest news in brief and mandates from the past seven days
Posted: 11/10/24
Trustees can “uncross their fingers” as the latest government regulations have brought clarity to the new pension tax regime, LCP has said
Posted: 11/10/24
The majority (94 per cent) of pension funds are expecting a rise of at least 10 per cent in hedge fund sector fundraising over the next three years, according to research from Beacon Platform
Posted: 11/10/24
Isio has announced plans to acquire insurance and risk settlement specialist, K3 Advisory, subject to Financial Conduct Authority (FCA) regulatory approval
Posted: 11/10/24
The government has appointed former Darktrace CEO, Poppy Gustafsson, as its new Investment Minister as part of a wider ‘shake up’ aimed at strengthening the government’s partnership with businesses and investors
Posted: 11/10/24
The Church of England Pensions Board has completed a £145m buy-in with Aviva, meaning that all pensions within the Church Workers Pension Fund (CWPF) Defined Benefit (DB) Scheme are now backed by insurance policies
Posted: 10/10/24
Defined contribution (DC) pension schemes should prepare for the impact of changes in the forthcoming Budget, Hymans Robertson has warned
Posted: 10/10/24
The drive to increase pension scheme investment in productive UK assets is continuing to gain momentum following recent defined benefit (DB) funding improvements, although this could trigger greater competition with defined contribution (DC) pension funds, PwC has warned
Posted: 10/10/24
The majority (87 per cent) of UK workers have specific retirement goals, including travel, family time, hobbies, and spending time with partners, yet just 15 per cent have set clear financial goals and budgets, a study from Barnett Waddingham has revealed
Posted: 10/10/24
The EDF Group of the ESPS (EDFG) Pension Scheme has completed its full administration transfer of over 30,000 members to Trafalgar House
Posted: 10/10/24
Future auto-enrolment reforms should focus on flexible pension saving in order to reflect the different challenges that low, middle and higher earners face, a report from the Resolution Foundation has suggested
Posted: 10/10/24
Scottish Widows has added a new ‘insure’ space in its app for workplace pensions customers in order to make it easier for members to be more connected to their finances by seeing all of their insurance policies in one place
Posted: 9/10/24
The majority (90 per cent) of self-employed workers aged 55 and over are off track for a moderately comfortable retirement, with less than £250,000 in their pension, research from Interactive Investor has found
Posted: 9/10/24
"Careful policy action" is needed to unlock pension capital to help deliver on the government's clear power by 2030 mission, an industry report, Mobilising pension capital for net zero: a policy blueprint for the UK, has suggested
Posted: 9/10/24
UK pension risk transfer market volumes have reached “cruising altitude”, with 2024 expected to end a little below the 2023 record of £49.1bn, LCP analysis has found
Posted: 9/10/24
Nearly three in 10 (29 per cent) UK retirees are considering returning to work to cope with rising living costs, according to research by Indeed Flex
Posted: 9/10/24
The Michelin Pension and Life Assurance Plan has agreed a £1.5bn full-scheme buy-in with Aviva, covering the retirement benefits of around 15,000 members of the scheme
Posted: 9/10/24
Employers should “look beyond just repairing ‘broken’ defined contribution (DC) pension provision", WTW has said
Posted: 9/10/24
Pension funds are the largest UK social impact investors, providing 21 per cent of the UK’s social impact investment, according to analysis by Better Society Capital (BSC)
Posted: 8/10/24
The aggregate surplus of the 5,050 schemes in the PPF 7800 Index grew to an estimated £476bn at the end of September 2024, up only slightly on the £475bn reported at the end of August 2024, figures from the Pension Protection Fund’s (PPF) 7800 Index showed
Posted: 8/10/24
The government has been urged to create a new National Lifetime Savings Plan (NLSP), as well as a National Short-Term Savings Plan (NSSP), to help improve financial resilience
Posted: 8/10/24
The Royal Mail Collective Pension Plan (RMCPP) has appointed WTW as scheme actuary and BlackRock as its investment manager
Posted: 8/10/24
The Department for Work and Pensions (DWP) has announced that over 10,000 people have boosted their state pension by making extra payments towards their national insurance (NI)
Posted: 8/10/24
Industry experts have welcomed the government’s consultation on plans to extend collective defined contribution (CDC) to whole-life unconnected multiple employer schemes and other related provisions, hailing this as the “landmark moment” for the industry
Posted: 8/10/24
Compensation payments due to people who were wrongly advised to transfer out of their defined benefit (DB) pensions have fallen to record lows, according to a quarterly update from Broadstone
Posted: 8/10/24
The Department for Work and Pensions (DWP) has suggested that a structured plan to assign priorities may be needed to develop engagement with private pensions
Posted: 8/10/24
The Department for Work and Pensions (DWP) has launched a consultation on draft legislation to extend collective defined contribution (CDC) provision beyond single or connected schemes
Posted: 8/10/24
Over three quarters (77 per cent) of UK adults aged 54 to 64 expected to become eligible for the state pension within 12 months of their actual state pension age, research by the Department for Work and Pensions (DWP) has found
Posted: 7/10/24
TPT Investment Management (TPTIM) has launched a standalone fiduciary management offering for UK defined benefit (DB) pension schemes
Posted: 7/10/24
Four new firms have joined the Dashboard Operators Coalition (DOC), bringing the total number of members to 15
Posted: 7/10/24
Industry experts have welcomed the launch of the Royal Mail Collective Plan, with hopes that the launch could act as a "stepping stone" towards scalable whole-life multi-employer collective defined contribution (CDC) schemes
Posted: 7/10/24
The government has allegedly dropped its plans for the introduction of a flat rate of pension tax relief due to concerns about the impact it would have on public sector workers, reports have suggested
Posted: 7/10/24
The UK drawdown market is expected to triple over the next decade from £200bn to £600bn, analysis from Guiide has found
Posted: 7/10/24
The Royal Mail Collective Plan launched today (7 October), in what has been highlighted as the start of a "new pensions era"
Posted: 7/10/24
Recent defined benefit (DB) pension funding progress and large numbers of bulk annuity deals are expected to offer "hope" for DB schemes looking to derisk, according to Broadstone
Posted: 4/10/24
Pension investment in infrastructure is set to increase as pension schemes mature and investment capabilities increase, although better processes and mechanisms to define and collect consistent data are needed, the Pensions Policy Institute (PPI) has found
Posted: 4/10/24
Elizabeth Passey has been appointed the new chair of the Financial Services Compensation Scheme's (FSCS) board
Posted: 4/10/24
The latest news in brief and mandates from the past seven days
Posted: 4/10/24
A "broader approach" to pension reform is needed to make the UK more attractive for both domestic and international investors, the Investment Association (IA) has said
Posted: 4/10/24
Defined benefit (DB) pension schemes should make sure their data is up to date and fit for purpose, Hymans Robertson warned, as insurers may refuse to quote or provide pricing for buy-in and buyout if it is not
Posted: 4/10/24
The Pensions Administration Standards Association (PASA) has appointed Procentia as its expert partner for digital admin
Posted: 3/10/24
The Pensions Scams Industry Group (PSIG) has urged the industry to advocate for the fair treatment of the Ark Pension Schemes victims and push for necessary reforms
Posted: 3/10/24
Adults in the UK are facing a financial planning ‘black hole’ and are “woefully unprepared” for retirement and legacy planning, Killik & Co has warned
Posted: 3/10/24
UK defined benefit (DB) pension schemes' funding positions remained stable in September, with an "extremely positive" aggregate surplus of around £186bn, analysis from XPS Pensions Group has revealed
Posted: 3/10/24
Half (50 per cent) of those aged 55 and over have not discussed the sort of lifestyle in retirement they want with a partner or loved one, research from Standard Life has found
Posted: 3/10/24
Industry experts have outlined their key asks ahead of the October Budget, urging the government to consider the long-term impact of any potential changes to the pensions market, particularly tax changes
Posted: 2/10/24
The average amount needed for a basic retirement has increased by 60 per cent in the past three years, resulting in savers becoming increasingly worried about their financial future, Shepherds Friendly has found
Posted: 2/10/24
Thomas Miller & Co Ltd Retirement Benefits Scheme has completed a £140m full-scheme buy-in with Aviva, covering all members of the scheme
Posted: 2/10/24
The Retreat York Pension Scheme has agreed a £30m full scheme buy-in with Royal London, securing the benefits of 202 pensioners and 108 deferred members
Posted: 2/10/24
Pension schemes should reconsider their stance on charging divorce fees, Trafalgar House has said
Posted: 2/10/24
The majority (71 per cent) of pension savers do not know what they are paying in pension fees or did not realise they were paying fees at all, research from Wealthify has found
Posted: 2/10/24
The combined IAS19 pensions surplus for UK FTSE 100 defined benefit (DB) pension schemes remained steady at around £60bn in September, having stayed at a consistent level over the whole quarter, according to analysis from LCP’s Pensions Explorer
Posted: 1/10/24
Companies should engage with their defined benefit (DB) pension scheme trustees to avoid a sub-optimal endgame strategy, Hymans Robertson has said
Posted: 1/10/24
Almost half (48 per cent) of member-nominated trustees (MNTs) are currently planning for buyout as their endgame objective, research from the Association of Member Nominated Trustees (AMNT), in conjunction with Schroders, has found
Posted: 1/10/24
Women at age 55 have an average of 43 per cent less in their pension pot than men, despite parity in pension participation rates, research from Royal London has revealed
Posted: 1/10/24
Almost half (47 per cent) of pension experts expect the bulk annuity market to reach between £50bn and £60bn of transactions next year, according to Pension Insurance Corporation (PIC) research.
The survey also revealed that 45 per cent of respondents thought the bulk annuity market would be between £40bn and £50bn
Posted: 1/10/24
Origo has launched a pensions dashboards matching toolkit allowing providers to test their ability to match find requests received via pensions dashboards
Posted: 1/10/24
The Pensions Regulator (TPR) has shared further details as to how it used its anti-avoidance powers to issue a £1.8m contribution notice against a director, as well as agree a settlement with another, highlighting the case as a "landmark" ruling
Posted: 1/10/24
It is “highly unlikely” that the Chancellor will bring in a flat rate of pension tax relief in the Autumn Budget, LCP has said, due to the potential disproportionate effect on public sector workers
Posted: 30/9/24
Pension transfer activity hit a record low of an annualised rate of 14 members in every 1,000 transferring their benefits to alternative arrangements in August, data from XPS Group has revealed
Posted: 30/9/24
Almost six in 10 (59 per cent) UK Millennials are struggling to save for retirement due to their current life stage, compared to 48 per cent of Gen Z and 39 per cent of Gen X, research from Phoenix Group has found
Posted: 30/9/24
Royal London has confirmed that it has entered the UK pension bulk purchase annuity (BPA) market
Posted: 30/9/24
Pension funds in the UK are providing better returns than savers expect, with average annual growth over five years of nearly 8 per cent for those 30 years from retirement, analysis from PensionBee has shown
Posted: 30/9/24
Defined benefit (DB) pension schemes need to understand how trends in public health will affect longevity assumptions following the publication of two ‘key’ reports into the NHS, LCP has stated
Posted: 30/9/24
The latest news in brief and mandates from the past seven days
Posted: 27/9/24
Nearly a fifth (17 per cent) of defined contribution (DC) pension schemes that The Pensions Regulator (TPR) engaged with as part of its drive on value have opted to wind up after concluding that their schemes do not offer good value, TPR has revealed
Posted: 27/9/24
The Department of Work and Pensions (DWP) should include greater flexibility for private sector defined benefit (DB) schemes in managing the current and future surpluses in the next Pensions Bill, the Association of Consulting Actuaries (ACA) has stated
Posted: 27/9/24
The lifetime provider model raised by the former government is no longer expected to be pursued, industry experts have suggested, with a formal decision expected to follow the government's pension review
Posted: 27/9/24
Nearly half (45 per cent) of pension professionals want the government to prioritise work to resolve issues arising from the recent Virgin Media case, the Society of Pension Professionals (SPP) has found
Posted: 27/9/24
The government has been encouraged to avoid introducing "unachievable" short-term deadlines for the completion of asset transfers for the Local Government Pension Scheme (LGPS), ahead of its pensions investment review
Posted: 27/9/24
There was a "significant" rise in pensions being accessed for the first time in 2023/24, although the number of individuals who accessed their pensions without taking regulated advice has also increased, data from the Financial Conduct Authority (FCA) has found
Posted: 27/9/24
The number of employees that are ineligible for automatic enrolment has been growing at a “rapid rate”, and has now overtaken the number of employees that are eligible, research from the Pensions Policy Institute (PPI) has found
Posted: 26/9/24
The Society of Pension Professionals (SPP) has acknowledged the need for increased pension investment in productive finance assets, although it raised concerns that this could have potentially negative consequences for savers if not implemented carefully
Posted: 26/9/24
A 'whole life' approach to financial wellbeing, in which pensions saving is considered alongside the financial wellbeing of households before retirement, is needed, Nest Insight has argued
Posted: 26/9/24
The bulk annuity market in the UK saw £15.1bn worth of transactions in the first half of 2024 across a “record” number of deals, research from Aon has found
Posted: 26/9/24
The Society for Pension Professionals (SPP) has said they would like to see how a “roadmap” for how auto-enrolment (AE) increases might happen over time
Posted: 26/9/24
It will take 90 years for the gender pension gap to close from 2024, despite the gap recently reaching its lowest-ever rate, research from Almond Financial has found
Posted: 25/9/24
Industry experts have stressed the need to put member security at the forefront of any changes to the pension market, cautioning the government against legislating for particular investment allocations.
Despite the focus on scale, industry organisations have also warned that consolidation is not a "silver bullet" for stronger returns, arguing that the focus should instead be on creating conditions that enable diversified investment strategies, rather than relying solely on size
Posted: 25/9/24
Workplace pension providers have achieved a “record number” of overall gold awards in Benefits Guru’s workplace pension and auto-enrolment (AE) 2024 ratings
Posted: 25/9/24
Smaller pension scheme buy-in deals drove bulk annuity transaction numbers to record levels in the first half of 2024, according to analysis from LCP
Posted: 25/9/24
Private market investments could help boost the UK’s level of pension engagement and contributions among defined contribution (DC) members, which continues to remain low, according to research from Legal and General (L&G)
Posted: 25/9/24
Employers have been urged to play their part in helping workers track down their lost or forgotten pension pots, ahead of the fourth annual National Pension Tracing Day (NPTD)
Posted: 25/9/24
Nearly half (47 per cent) of defined benefit (DB) schemes reported a surplus position in tranche 17, up from 32 per cent in tranche 14, research from The Pensions Regulator (TPR) has revealed
Posted: 24/9/24
Defined benefit (DB) scheme running costs increased by an average of 37 per cent over the past year, with nearly a third (32 per cent) of DB schemes seeing their costs rise by over 50 per cent, research from TPT Retirement Solutions has revealed
Posted: 24/9/24
Pension schemes should consider how their environmental, social and governance (ESG) and sustainability objectives could be impacted by the Financial Conduct Authority’s (FCA) Sustainability Disclosure Regulations (SDR) in the long-term, AXA Investment Managers (AXA IM) has warned
Posted: 24/9/24
Professional trustees are quickly becoming the new normal, LCP has said, after its annual survey found that just over half (51 per cent) of UK pension schemes have a professional trustee, of which a quarter have appointed a sole trustee
Posted: 24/9/24
The Platforms Association, a new membership body that seeks to represent and provide a voice for the investment platforms sector, has been launched
Posted: 24/9/24
Nearly half (49 per cent) of Local Government Pension Scheme (LGPS) funds have established net-zero targets, highlighting that the majority have not yet set a net-zero strategy or ambition, analysis from XPS Group has found
Posted: 24/9/24
More than half (53 per cent) of defined benefit (DB) professional trustees believe they have the knowledge and skills needed to handle another liability-driven investment (LDI) crisis if it comes, research from Charles Stanley Fiduciary Management has found
Posted: 24/9/24
The Pensions Regulator (TPR) has published an interim response to its consultation on the defined benefit (DB) statement of strategy, confirming that it has reduced the data ask of schemes in certain situations following industry feedback
Posted: 23/9/24
Defined benefit (DB) trustees who are at the buyout stage and considering using insurers’ net-zero targets to help them choose a partner should focus on a firm’s performance in meeting interim emissions targets, Hymans Robertson has argued
Posted: 23/9/24
People’s Partnership, provider of The People’s Pension, has said that it is moving towards investing in private markets, including UK-based assets, after growing its scale and in-house capabilities
Posted: 23/9/24
Nest has agreed a partnership with Legal & General (L&G) and Dutch pension fund, PGGM, collectively investing up to £1bn into build to rent schemes across the UK
Posted: 23/9/24
Trustees could "benefit" from working with a third-party evaluator who understands fiduciary management (FM) models, Capital Cranfield professional trustee and UK Power Networks head of pensions, Michele Hirons-Wood, has said
Posted: 23/9/24
The defined benefit (DB) market remains “highly fragmented”, with a large number of small schemes, according to the Pension Protection Fund (PPF) executive board member and general counsel, David Taylor
Posted: 23/9/24
Trustees have been urged to get up to speed on new regulatory requirements ahead of the revised defined benefit (DB) Funding Code coming into force this weekend (22 September)
Posted: 20/9/24
The pensions industry could benefit from exploring “better” solutions to consolidate rather than waiting for a scheme to collapse, Pension Protection Fund (PPF) CEO, Michelle Ostermann, has suggested
Posted: 20/9/24
Legal & General (L&G) has announced the launch of a new Islamic investment proposition, designed to address a recognised need for Muslim members to have a wider choice of Shariah-compliant investment options
Posted: 20/9/24
User testing with live data will be “absolutely critical” to the future design of pension dashboards, Pensions Dashboards Programme (PDP) principal, Chris Curry, has said
Posted: 20/9/24
The latest news in brief and mandates from the past seven days
Posted: 20/9/24
Nearly three quarters (74 per cent) of pension professionals think some form of tax relief would be the best way to achieve the government’s aim of greater UK investment, research from the Society of Pension Professionals (SPP) has revealed
Posted: 20/9/24
Risk sharing options, such as collective defined contribution (CDC), could provide members with higher value retirement outcomes, although careful plan design will be needed to address intergenerational value transfer issues, Hymans Robertson has said
Posted: 19/9/24
The government has been urged to launch an ‘Inclusive Investment Strategy’ in the upcoming Autumn Budget to help create a culture of inclusive investment, driving economic growth and boosting people’s financial security
Posted: 19/9/24
The market value of private sector defined benefit and hybrid (DBH) pension schemes increased by 6 per cent between 30 September 2023 and 31 March 2024, data from the Office for National Statistics (ONS) has revealed
Posted: 19/9/24
The Pensions and Lifetime Savings Association (PLSA) has published guidance to help defined contribution (DC) occupational pension scheme trustees and employers to provide increased support and options for savers over how they access their pensions
Posted: 19/9/24
Managing illiquid assets is a key concern for defined benefit (DB) pension schemes approaching their endgame, according to Aon
Posted: 19/9/24
Workers in the UK aged 50 and older are considering adopting a phased retirement approach amid financial security concerns and expectations of longer working lives, research from WTW has found
Posted: 19/9/24
Pension schemes should start thinking about potential deflation risks and make contingency plans to avoid a repeat of the issues seen amid the 2022 gilts crisis, LCP has said
Posted: 19/9/24
Schroders Capital has received regulatory permission to launch its third Long-Term Asset Fund (LTAF), which is the first dedicated to UK venture capital
Posted: 19/9/24
TPT Investment Management (TPTIM) has launched a £650m Private Credit Fund for UK pension schemes, seeded with capital from TPT’s defined benefit (DB) master trust
Posted: 18/09/24
Calls for the government to make further reforms to auto-enrolment (AE) have grown, with The Investing and Saving Alliance (Tisa) arguing that further research and reform is needed to help savers achieve an adequate pension pot
Posted: 18/9/24
Almost three quarters (73 per cent) of retirees do not fully understand key pension terms such as 'annuity', with pension jargon seen as a “barrier” to pension planning, research from Legal and General (L&G) has found
Posted: 18/09/24
The majority of employers are looking to make "significant" changes to their workplace pensions, with 89 per cent to adopt new HR strategies to achieve retirement adequacy by 2026, research from the Reward and Employee Benefit Association (REBA) has revealed
Posted: 18/9/24
The Merseyside Pension Fund has completed a £200m buy-in with Aviva, securing the benefits of around 2,500 scheme members, attributable to Arriva Merseyside Ltd
Posted: 18/9/24
The Pensions Dashboards Programme (PDP) has confirmed that Gov.UK One Login will be the identity service provider for anyone using the dashboards service
Posted: 18/9/24
Pensions Minister, Emma Reynolds, discusses her plans to unleash the real potential of the private pensions sector to deliver for both today’s and tomorrow's pensioners
Posted: 17/9/24
The Pensions Ombudsman (TPO) has upheld a complaint against Gunns Bakery for failing to pay contributions into a worker’s Nest pension due to maladministration
Posted: 17/09/24
Access to a wider universe of investments through alternatives is an “important and growing fundamental trend” for pension investment, with changes in the market set to release new sources of funds, according to research from the Pensions Policy Institute (PPI)
Posted: 17/9/24
Moneyhub has appointed RSM UK as its statutory auditor of compliance with the Pensions Dashboards Programme (PDP) standards, ahead of launching its commercial pensions dashboard
Posted: 17/09/24
The government has confirmed that further regulations around the abolition of the lifetime allowance (LTA) will be introduced “as soon as parliamentary time allows"
Posted: 17/9/24
Nearly half (40 per cent) of financial advisers’ retiring clients’ pension assets are invested in multi-asset strategies, the most popular investment strategy by a “comfortable margin”, according to Aegon
Posted: 17/9/24
The pensions industry still has a “long way to go” to engage schemes and members with their pensions journey, research from Trafalgar House has suggested
Posted: 16/9/24
A third (33 per cent) of those aged 55-68 have never switched savings accounts, potentially missing out on “crucial” savings, according to research from Shawbrook Bank
Posted: 16/09/24
The government has been urged to make a number of auto-enrolment reforms, after analysis from the Institute for Fiscal Studies (IFS) found that around 5 to 7 million people are on track for inadequate retirement incomes
Posted: 16/9/24
Almost three quarters (74 per cent) of Brits, in the UK and abroad, are not on track to retire with sufficient funds to maintain their current lifestyle, research from DeVere Group has found
Posted: 16/09/24
Nearly six in 10 (59 per cent) UK adults expect an annual return of over 5 per cent on their pension investments, with this expectation being more prevalent for those aged 18-54 with 60 per cent holding this view, research by PensionBee has found
Posted: 16/09/24
Driving initial engagement with pension schemes can be particularly challenging when relying solely on traditional channels like email, research from the Financial Conduct Authority (FCA) has revealed
Posted: 13/9/24
Standard Life has introduced a new guaranteed fixed-income product for those approaching or in retirement
Posted: 13/9/24
Consolidation across the defined contribution (DC) sector has the potential to offer advantages, but policymakers must ensure that members interests remain the top priority, FTI Consulting said
Posted: 13/9/24
The latest news in brief and mandates from the past seven days
Posted: 13/9/24
The Pensions Regulator (TPR) is expanding its engagement with administrators to drive better outcomes for savers, with plans to engage with a further 10 to 15 administrators as part of this
Posted: 13/9/24
Labour MP for Oldham East and Saddleworth, Debbie Abrahams, has been elected as the chair of the Work and Pensions Committee (WPC)
Posted: 12/9/24
Pensions Minister, Emma Reynolds, has said there is “no really good reason” why UK pension funds should not be investing in the UK economy, when there are lots of other pension funds that are
Posted: 12/9/24
The Local Authority Pension Fund Forum (LAPFF) and CCLA Investment Management have called on 76 FTSE 100 companies to produce climate transition plans that investors can vote on
Posted: 12/9/24
Phoenix Insights has urged the government to develop a more flexible and engaging savings system as one of five of its recommendations to improve retirement adequacy
Posted: 12/9/24
Pension Insurance Corporation (PIC) has reported a “strong” H1, with record numbers of pensions insured and policyholder pension payments made, despite new business being down on last year, according to its half-year results
Posted: 12/9/24
The government should use the upcoming value for money framework to help pension schemes shift their focus from short-term considerations to long-term returns in defined contribution (DC) pensions, leaders from the pensions and private capital industry have said
Posted: 12/9/24
The Pension Protection Fund (PPF) has proposed a £100m levy estimate for 2025/26, equalling its lowest ever levy, with industry experts calling for legislation to be reformed to allow the PPF to propose even lower levies
Posted: 12/9/24
The government should ensure it consults widely and takes time to consider any reform of pension taxation or risk facing the same unintended consequences of previous reforms that have disrupted pension savings, the Association of Consulting Actuaries (ACA) has stated
Posted: 12/9/24
With the Pensions Awareness 2024 campaign in full swing, Sophie Smith takes a look at the industry’s efforts to get savers engaged with their pensions, and why it’s so important
Posted: 12/9/24
Less than one in 10 (9 per cent) self-employed workers can correctly answer three basic pension questions, with middle-aged self-employed workers faring worst, research from Interactive Investor has revealed
Posted: 12/9/24
More than half (57 per cent) of UK savers don’t feel confident that they have enough time to save for retirement, research from Unbiased has revealed
Posted: 12/9/24
One in 10 (10 per cent) UK employees and self-employed workers don’t plan to retire at all, research from Barnett Waddingham, published to coincide with Pensions Awareness Week, has revealed
Posted: 12/9/24
The Pensions Dashboards Programme (PDP) has published the updated versions of the dashboards technical standards and the code of connection, to be used by pension schemes and providers when preparing for connection
Posted: 11/9/24
The average time to buyout for FTSE 350 defined benefit (DB) pension schemes has remained stable at 5.4 years as of 31 August, Barnett Waddingham’s DB End Gauge Index has found
Posted: 11/9/24
The government should not cap up-front income tax as a means to raise revenue during reforms to pensions taxations, the Institute for Fiscal Studies (IFS) has said
Posted: 11/9/24
Pension savers are calling for increased support from the government, with over 80 per cent in favour of the creation of clear saving benchmarks to meet at specific milestones, a survey from PensionBee has found
Posted: 11/9/24
Greater transparency around performance and costs is needed for there to be “meaningful” positive changes in investment strategies, The Pensions Regulator (TPR) has said, as it announced plans to 'step up' its focus on investment governance
Posted: 11/9/24
Retirement security in the UK has improved over the past year and reached a record-high position of 14th place on the Natixis Investment Managers (IM) Global Retirement Index (GRI), the firm has revealed
Posted: 11/9/24
Zedra has announced that it has acquired a Polish accounting and corporate services provider, Blackstones
Posted: 11/9/24
Defined contribution (DC) pension experts expect the number of Long-Term Asset Funds (LTAFs) to increase “significantly” over the next few years, according to research from the DC Investment Forum (DCIF)
Posted: 10/9/24
The state pension is set to rise by £460 a year from next April, after the latest labour market data revealed that average wages including bonuses rose by 4 per cent over the past year
Posted: 10/9/24
The government has been urged to work with regulators, trade bodies and industry organisations to agree common asset class definitions and understandings, in order to achieve a single view of asset allocation across the pension sector
Posted: 10/9/24
The aggregate surplus of defined benefit (DB) pension schemes remained "relatively stable" in August, despite a slight fall from £475.5bn to £475bn, the Pension Protection Fund’s (PPF) latest 7800 Index has revealed
Posted: 10/9/24
The Charities Aid Foundation Pension Scheme has completed a £12m buy-in with Just Group, securing the retirement benefits of 64 pensioners and 155 deferred members
Posted: 10/9/24
Many people are unaware of the consequences of certain life choices that could reduce their pension pot by hundreds of thousands of pounds, according to research from the Institute and Faculty of Actuaries (IFoA)
Posted: 10/9/24
Employers’ concerns about the adequacy of defined contribution (DC) pension adequacy are growing, with just over a quarter (27 per cent) believing their DC pension provision will enable their employees to have a comfortable retirement, research from WTW has found
Posted: 10/9/24
Nest has shared information on its UK-based investments for the first time, after research from the scheme found that the majority (70 per cent) of its members wanted more information about how it invests in the UK
Posted: 9/9/24
The aggregate surplus of defined benefit (DB) pension schemes in the UK on a long-term targets basis remained unchanged at approximately £176bn in August, according to analysis from XPS Group
Posted: 9/9/24
The Pensions Age Autumn Conference, taking place in London on Thursday 19 September 2024, is now just over a week away, but there is still time to register
Posted: 9/9/24
The assets of the top 300 pension funds increased by 10 per cent in 2023, although they are yet to return to the previous high seen in 2022, Thinking Ahead Institute’s latest analysis has revealed
Posted: 9/9/24
The government has been urged to take action to help self-employed workers better prepare for retirement, after research from the Institute for Fiscal Studies (IFS) found that the current policy environment is "not fit for purpose"
Posted: 9/9/24
The Money and Pensions Service (Maps) has launched a new digital appointment offering, Pension Wise Digital, to expand the Pension Wise service to more people and help meet customer needs in modern and digital ways
Posted: 9/9/24
The Financial Conduct Authority (FCA) has published its decision to ban two financial advisers and two partners from St Martin’s Partners LLP (SMP) from working in financial services, and fine them a collective £590,544
Posted: 9/9/24
Reinsurers should look to “lean into risk” to support clients and drive a more sustainable market, Aon has said
Posted: 6/9/24
The Pensions Ombudsman (TPO) has upheld a complaint against Wentworth Rest Home Limited for failing to pay contributions into a worker’s pension due to maladministration
Posted: 6/9/24
The latest news in brief and mandates from the past seven days
Posted: 6/9/24
The UK’s pension risk transfer (PRT) market is on track for one of its largest years ever, Legal & General (L&G) has said, after its analysis found that full-year volumes across the UK market are likely to exceed £40bn in 2024
Posted: 6/9/24
The Pensions and Lifetime Savings Association (PLSA) and Association of British Insurers (ABI) have launched year three of the Pension Attention campaign, with a new parody beauty advert fronted by reality TV star, Gemma Collins
Posted: 6/9/24
The Pensions Ombudsman (TPO) has upheld a complaint against RQ Cafe Limited for failing to pay contributions into a worker’s Nest pension due to maladministration
Posted: 5/9/24
Pensions for Purpose has announced Independent Governance Group (IGG) as a new community partner, marking the group's first partnership with a professional trustee firm
Posted: 5/9/24
The Institutional Investors Group on Climate Change (IIGCC) has published guidance to support investors looking to address scope 3 emissions from investments in their portfolios
Posted: 5/9/24
The Pensions Regulator (TPR) has published its new pensions dashboards compliance and enforcement policy, urging pension scheme trustees to plan ahead for pensions dashboards or face regulatory action
Posted: 5/9/24
The Department for Work and Pensions (DWP) has launched a call for evidence to help inform the first phase of its pension investment review, which will aim to boost investment, increase pension pots and tackle waste in the pensions system
Posted: 5/9/24
A surge in demand for pension scheme buyouts is set to drive transactions in the second half of 2024, according to PwC
Posted: 5/9/24
Three fifths of savers are not confident that they will have the money needed to fund the essentials in retirement, research shared as part of the Pensions Awareness campaign has revealed
Posted: 4/9/24
The average pension needed to meet basic needs in retirement "surged" by 60 per cent in the cost-of-living crisis, rising from £70,000 in 2021-22 to nearly £110,000 in 2023-24, research from Resolution Foundation, commissioned by the Living Wage Foundation, has found
Posted: 4/9/24
Under a third (29 per cent) of women feel confident about their ability to make pension contributions, compared to 49 per cent of men, research from Fidelity International has found
Posted: 4/9/24
The state pension looks set to rise by over £400 next year as upcoming labour market data is expected to show it will increase in line with average earnings as part of the triple lock
Posted: 4/9/24
Haseltine Lake Staff Pension Scheme has appointed HS Trustees to its trustee board
Posted: 4/9/24
The Coats UK Pension Scheme has completed a £1.3bn buy-in with Pension Insurance Corporation, covering the remaining 80 per cent of the scheme's liabilities
Posted: 4/9/24
The Pensions Ombudsman (TPO) has upheld a complaint against Key Security UK Ltd for failing to pay contributions into a worker’s pension due to maladministration
Posted: 3/9/24
Railpen has acquired a 25 per cent stake in Verdis (formerly Urbaser Nordic), the leading Nordic municipal waste collection operator
Posted: 3/9/24
Following the launch of the new Labour government’s pensions review, Pensions Age’s latest series takes a look back at how the pensions industry got to this point, and the ongoing debates surrounding key pension issues
Posted: 3/9/24
The combined IAS19 pensions surplus for UK FTSE 100 defined benefit (DB) pension schemes stood at around £60bn as at 31 August, broadly unchanged over the past two months, LCP’s Pensions Explorer has revealed
Posted: 3/9/24
Pensioners would need to purchase an annuity for £250,000 from state pension age of 66 to match the weekly income of the full new state pension, according to analysis from Aegon
Posted: 3/9/24
Student workers could add thousands of pounds to their pension if the government goes ahead with the extension of automatic enrolment (AE) to 18-year-olds, research from PensionBee has found
Posted: 3/9/24
The trustee for the National Grid UK Pension Scheme (NGUKPS) has outsourced its provision of executive, governance and risk management services to LCP
Posted: 2/9/24
Increasing the minimum auto-enrolment (AE) contributions could boost savers pension pots by £217,000, analysis from Standard Life has revealed
Posted: 2/9/24
Apita Group had announced the launch of its all colleague share plan (ACSP), meaning that all staff across its global workforce, no matter grade, location, or length of service, will own a share in Aptia
Posted: 2/9/24
Three more fintech and master trust providers have joined the Dashboard Operators Coalition (DOC), bringing the total number of members to 10
Posted: 2/9/24
Legal and General (L&G) has appointed MoneyHub as its qualifying pensions dashboard service technology provider, aimed at helping shift the dial on how people prepare for retirement
Posted: 2/9/24
Legal and General (L&G) has announced plans for new digital guidance to help give defined contribution (DC) savers better retirement outcomes, enhancing its at-retirement proposition
Posted: 30/8/24
Pensions Management Institute (PMI) president, Robert Wakefield, considers how the pensions industry can tackle the idea that pensions are boring, and whether a pensions rebrand could be needed
Posted: 30/8/24
The funding position of the FTSE 350 defined benefit (DB) pension schemes decreased slightly on an accounting basis in July, falling from £85bn to £83bn, Mercer’s latest Pensions Risk Survey update has revealed.
The tracker showed that, despite "significant geopolitical events", including the results of elections in France and the UK and the withdrawal of Joe Biden from the US presidential race, FTSE 350 pension funds remained "resilient"
Posted: 30/8/24
Savers could boost their retirement savings by “thousands” of pounds by switching away from multiple pension pots and combining their savings into one pension, research from AJ Bell has revealed
Posted: 30/8/24
The latest news in brief and mandates from the past seven days
Posted: 30/8/24
Just over half (1,737,342) of the 3,407,567 people receiving the new state pension got the full weekly amount of £203.85 in 2023, analysis from Royal London has revealed
Posted: 30/8/24
Standard Life Master Trust has been appointed to run a new scheme for members receiving restorative compensation from the Fraud Compensation Fund (FCF), designed to re-establish pensions of members defrauded of their pension savings
Posted: 29/8/24
The Pensions Regulator (TPR) has called on defined contribution (DC) trust-based pension schemes to help shape the proposed value for money (VFM) framework, highlighting the framework as "one of the biggest revolutions in pensions policy since auto-enrolment"
Posted: 29/8/24
Royal London has announced a rebrand of its equity release business and will bring Responsible Lending under the Royal London brand
Posted: 29/8/24
The average defined benefit (DB) funding level reached more than 100 per cent (103 per cent) for the first time under the outgoing defined benefit (DB) funding regime, with nearly two thirds (65 per cent) of DB schemes in surplus, research from Aon has found
Posted: 29/8/24
Pension schemes trustees and sponsors should be "careful" and evaluate the range of settlement options, Broadstone has said, after recent "dramatic" improvements in the funding landscape introduced several new options for managing long-term settlement of liabilities
Posted: 29/8/24
More than a third (35 per cent) of FTSE 350 defined benefit (DB) schemes are estimated to be fully funded on a buyout basis, with a further 20 per cent set to reach full funding on a buyout basis over the next three years, research from Barnett Waddingham has found
Posted: 29/8/24
The UK could be walking towards a "pension cliff edge", Mercer has warned, encouraging the government to "seize the opportunity" and step back in order to solve the issue holistically
Posted: 28/8/24
The Pensions Ombudsman (TPO) has upheld a complaint against Vulcan Aluminium Limited for failing to pay contributions into a worker’s pension due to maladministration
Posted: 28/08/24
As gilts play an "increasingly large role" in defined benefit (DB) portfolios, LCP has urged liability-driven investment (LDI) managers to influence government climate policy to protect members' pensions
Posted: 28/08/24
People’s Partnership has become the first master trust provider to partner with financial education specialist Nudge Global
Posted: 28/8/24
Pension transfer activity increased to an annualised rate of 23 member per 1,000 transferring their benefits to alternative arrangements in July 2024, according to XPS Group’s Transfer Activity Index
Posted: 28/8/24
Almost nine in 10 (88 per cent) defined benefit (DB) pension scheme trustees expect to decide upon an endgame strategy within the next five years, while 39 per cent expect to within the next two years, research from TPT Retirement Solutions has found
Posted: 27/08/24
The expected future living standard in retirement provided by defined contribution (DC) savings improved in Q2, although it is yet to return to the level reached before the 2023 update to the Retirement Living Standards, Aon's UK DC pension tracker has revealed
Posted: 27/8/24
Chancellor, Rachel Reeves, has been urged to use October’s budget to reform pension tax relief, after a report from the Fabian Society found that this could raise up to £10bn, "significantly" more than the plans to means test winter fuel allowance
Posted: 27/8/24
A fifth (20 per cent) of Brits over 55 have consistently spent more than they had expected to during retirement so far, with an additional 11 per cent saying this occurred during early retirement, analysis from PensionBee has found
Posted: 27/08/24
The Scottish Milk Limited Retirement Benefits Plan has completed a £42m buy-in with Just Group, securing retirement benefits for all 452 members of the scheme, comprising 292 pensioners and 160 deferred members
Posted: 27/8/24
The “significant” drop off in transfer value exercises seen throughout 2023 appears to have continued into the first half of 2024, analysis from Barnett Waddingham has revealed, with only five projects coming to the market in the opening six months
Posted: 23/8/24
The agenda for the Pensions Age Autumn Conference, taking place in London on Thursday 19 September 2024, has now been confirmed
Posted: 23/8/24
Society of Pension Professionals (SPP) member, Laura Brook, discusses the recent court ruling that TPO was not a 'competent court' for the purposes of concluding overpayment disputes where recoupment is sought, and the impact for pension scheme trustees
Posted: 23/8/24
The Pensions Ombudsman (TPO) has upheld a complaint against Prudential, ordering the firm to pay the complainant £1,000 in recognition of the “serious distress and inconvenience” caused as a result of the maladministration
Posted: 23/8/24
The latest news in brief and mandates from the past seven days
Posted: 23/8/24
Around 3.1 million pensioners could be brought into the higher or additional rate tax band by the 2027/28 tax year due to the government’s frozen income tax thresholds, Quilter's analysis of freedom of information data from HMRC has revealed
Posted: 22/8/24
Pension Geeks has announced that Royal London will be its new partner for Pension Awareness Week 2024
Posted: 22/8/24
The government has been urged to bring forward a raft of auto-enrolment (AE) changes, after analysis from Scottish Widows suggested that this could see 4.7 million more savers receiving pension contributions from their employer
Posted: 22/8/24
Recruitment company Hays has revealed its defined benefit (DB) scheme surplus fell by £6.3m in 2023/24 due to a decrease in expected returns
Posted: 22/8/24
Although a decision to accelerate rises in the state pension age (SPA) was delayed ahead of the election, Fidelity International has warned that it will need to be dealt with "imminently” by the new government
Posted: 22/08/24
'Thousands' of people could be sitting on a ‘pensions goldmine’, LCP partner, Steve Webb, has said, warning that this money could go unclaimed if people do not reply to letters from the Department for Work and Pensions (DWP)
Posted: 11/8/24
Pensions Policy Institute (PPI) head of modelling, Tim Pike, discusses the next steps for collective defined contribution (CDC), and the importance of ensuring fairness for all members
Posted: 21/8/24
XPS Group has launched a new platform for trading illiquid assets, XPS Xchange, designed to facilitate illiquid asset trade on the secondary market
Posted: 21/8/24
Young people have been urged not to neglect pension savings, after analysis from Standard Life found out that delaying pension contributions by five years could mean £54,000 less in retiremen
Posted: 21/08/24
The Fraud Compensation Fund (FCF) has paid out a total of £9.8m in compensation to three pension schemes whose members’ pension savings were lost after being unlawfully invested in the former sole trustee’s own business, Norton Motorcycles Holdings Ltd
Posted: 21/8/24
Pension SuperHaven (PSH) has partnered with Retirement Line to offer a ‘best price promise’ for pension savers
Posted: 21/8/24
ShareAction has written to the Treasury urging it to expedite plans to regulate all activities of investment consultants
Posted: 20/8/24
The Wiltshire Pension Fund has appointed Barnett Waddingham to deliver actuarial, benefits and governance, and fund risk consultancy services, after agreeing a five-year contract with the group
Posted: 20/08/24
Pensions and Lifetime Savings Association (PLSA) director of policy and advocacy, Nigel Peaple, discusses the steps that the industry can take to address pension adequacy concerns in the absence of forthcoming policy changes
Posted: 20/8/24
The Department for Work and Pensions (DWP) has launched a new pension credit awareness drive, urging pensioners to check their eligibility for Pension Credit in order to secure this year’s winter fuel payment
Posted: 20/8/24
Almost four in 10 (39 per cent) pensioners have retirement regrets, research from Hargreaves Lansdown has found
Posted: 20/08/24
The Pensions Ombudsman (TPO) has upheld a complaint against Vermuyden Care Limited for failing to pay contributions into a worker’s Nest pension due to maladministration
Posted: 20/8/24
Despite the defined benefit (DB) pension risk transfer market being a “little quieter” so far this year, Standard Life has said that there is a "strong pipeline" ahead, with over £40bn of bulk purchase annuities (BPA) expected to transact by the end of the year
Posted: 19/08/24
Global professional services business JTC has announced plans to acquire the Buck UK and European Share Plan Administration and Trustee businesses from Arthur J. Gallagher & Co, subject to regulatory approvals
Posted: 19/8/24
The Macmillan Cancer Support Pension Scheme has agreed a £33.7m buy-in with Aviva, covering all of the scheme’s retirees and deferred members, and their beneficiaries
Posted: 19/8/24
Almost two fifths (38 per cent) of pensioner homeowners have never checked if they are entitled to state benefits beyond their state pension, compared to 15 per cent renters, HUB Financial Solutions has found
Posted: 19/08/24
Future retirees are a third less likely to leave an inheritance to their loved ones than current pensioners amid financial challenges, according to St. James’s Place
Posted: 19/8/24
Broadstone has committed to setting several near-term science-based emissions reduction targets, including targeting a 50 per cent reduction in scope 1 carbon emissions by 2032
Posted: 19/8/24
The government has shared further details on its plans for a “landmark” pensions review, confirming that the first phase of the review will focus on developing policy in four key areas
Posted: 16/8/24
The latest news in brief and mandates from the past seven days
Posted: 16/08/24
Nearly half (46 per cent) of people with a disability are unable to or unlikely to make any financial contributions towards saving, with 48 per cent unlikely to achieve a ‘minimum’ lifestyle in retirement as a result, research from Scottish Widows has revealed
Posted: 16/8/24
Following the launch of the new Labour government’s landmark pensions review, Pensions Age’s latest series takes a look back at how the pensions industry got to this point, and the ongoing debates surrounding key pension issues
Posted: 1608/24
Over a third (37 per cent) of UK adults are using an individual savings account (ISA) to save for retirement, rising to nearly two thirds (62 per cent) amongst those aged 55-64, research from LV= has found
Posted: 16/8/24
Defined benefit (DB) pension scheme sponsors should engage in all stages of a DB scheme’s journey to buyout to ensure a successful deal and avoid the risk of increased costs and poor member experience, Hymans Robertson has said
Posted: 16/8/24
Make My Money Matter (MMMM) has launched a campaign calling on Aviva and Legal & General (L&G) to “step up” their stewardship of the fossil fuel industry and show “stronger leadership” on climate change
Posted: 15/8/24
The Society of Pension Professionals (SPP) has published updated guidance for the new defined benefit (DB) funding regime, following "uncertainty and speculation" around how schemes should adjust their strategies under the new regime
Posted: 15/8/24
The average time to buyout for FTSE 350 defined benefit (DB) pension schemes increased to 5.4 years as of 31 July 2024, Barnett Waddingham’s DB End Gauge Index has revealed
Posted: 15/8/24
Pension SuperHaven (PSH) has appointed First Actuarial to provide administrative services, in what it has highlighted as a “step closer” towards the scheme's formal launch
Posted: 15/8/24
Morgan Sindall Group has appointed WTW’s UK defined contribution (DC) master trust, Lifesight, as the master trust provider for its UK DC pension scheme members
Posted: 15/8/25
Almost 4 in 10 (38 per cent) retirees are worried about unexpected expenses during retirement, analysis from Legal & General (L&G) has found
Posted: 15/08/24
Despite a slightly slower start to the year, Aviva's bulk purchase annuity (BPA) business has experienced a "very strong start" to Q3, according to its half-year report, with completed BPA volumes at £4.1bn as of August 2024
Posted: 14/08/24
Standard Life has rolled out a new annuity transfer tracker service from Origo, designed to give firms instant, up-to-date information on the progress of their clients’ pension to annuity transfers
Posted: 14/8/24
Three quarters (75 per cent) of Scots aged between 40 and 66 (pre-state pension age) feel unprepared for retirement, with one one in seven (14 per cent) having no retirement savings at all, research from Phoenix Group has revealed
Posted: 14/8/24
Aegon has launched a new digital service that enables workplace members, particularly those without an adviser, to find and compare old pension pots
Posted: 14/08/24
The government needs to make it easier for the Local Government Pension Scheme (LGPS) to invest in the UK in order to “unlock” its full potential, Local Pensions Partnership Investments (LPPI) has said
Posted: 14/8/24
One in seven (14 per cent) UK adults have experienced an attempted pension scam in the past 12 months, research from LV= has found
Posted: 13/08/24
The Financial Reporting Council (FRC), as part of a cross-regulatory group, has launched a discussion paper on the future of digital reporting in the UK
Posted: 13/8/24
More than a third (34 per cent) of people aged between 55 and 68 are planning to use cash savings to supplement their retirement income, research by Shawbrook has found
Posted: 13/8/24
Wage growth is expected to be used to uprate the state pension under the triple lock next month, after the latest data from the Office for National Statistics (ONS) revealed that annual growth in earnings (including bonuses) was 4.5 per cent for the April-June 2024 period
Posted: 13/8/24
The aggregate surplus of the defined benefit (DB) pension schemes in the Pension Protection Fund (PPF) 7800 Index increased to £475.5bn in July, up from £473.6bn in June
Posted: 13/08/24
The Pensions Administration Standards Association (PASA) has published guidance on preparing for the change to normal minimum pension age (NMPA) ahead of the increase to age 57 from 6 April 2028
Posted: 12/8/24
Defined benefit (DB) pension schemes in the charitable sector have seen a “significant turnaround” in funding over the past five years, according to analysis from Hymans Robertson, which revealed a 20 per cent rise in the average funding level since 2019
Posted: 12/8/24
There is a “shock in store” for high-earning households as only 39 per cent are currently on track for a comfortable retirement income, according to analysis by Hargreaves Lansdown
Posted: 12/8/24
The government has been urged to take action to create more investible opportunities in the UK, amid concerns that the UK has "considerable need" of greater investment to achieve the government’s goals on growth and the transition to net zero
Posted: 12/8/24
The Pensions Ombudsman (TPO) has upheld a complaint against Caledonian Manpower Ltd for failing to pay contributions into a worker’s pension due to maladministration
Posted: 12/08/24
Nearly nine in 10 (88 per cent) high net worth individuals (HNWI) do not think pension policy is working as it should to encourage retirement saving and would like to see reforms, research from Saltus has found
Posted: 12/8/24
The Mineworkers’ Pension Scheme (MPS) has appointed Brightwell as administrator, providing services from January 2025
Posted: 12/08/24
Hargreaves Lansdown has formally agreed to a takeover deal by a consortium of private equity firms which values the financial services company at £5.4bn
Posted: 9/8/24
Issues around long-term objectives and creating a journey plan are “dominating the thinking” of pension schemes after the Defined Benefit (DB) Funding Code was laid in parliament, according to Aon
Posted: 9/8/24
The funding position of the Social Housing Pension Scheme (SHPS) has improved "significantly" despite market volatility, with the deficit falling by £870m (over 55 per cent) from 2020, standing at £690m on 30 September 2023
Posted: 09/08/24
The latest news in brief and mandates from the past seven days
Posted: 9/8/24
The pensions industry has broadly welcomed the Financial Conduct Authority’s (FCA) consultation on the value for money (VFM) framework but has warned certain aspects may have unintended consequences
Posted: 9/8/24
The Pension Protection Fund (PPF) has published its fourth Climate Change report, highlighting its progress on climate-related risks and opportunities in line with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations
Posted: 08/08/24
Rawle Gammon & Baker Ltd Pension & Assurance Scheme has completed a £23m full buy-in with Just Group, securing the benefits of 113 deferred members and 154 pensioners
Posted: 08/08/24
Adopting an Australian-style approach to pension regulation in the UK could boost a typical retirement pot of £100,000 by £12,000, according to the think tank Policy Exchange
Posted: 08/08/24
An unnamed pension scheme has completed a £47.5m buy-in deal with Canada Life, covering 355 deferred and 207 pensioner members
Posted: 8/8/24
The Financial Conduct Authority (FCA) has launched a consultation seeking views on the proposed rules and guidance for the value for money (VFM) framework for contract-based pension schemes
Posted: 8/8/24
Chancellor, Rachel Reeves, is considering plans to implement a ‘Canadian-style’ pension model in the UK to unlock further investment potential from the Local Government Pension Scheme (LGPS)
Posted: 7/8/24
The Pensions and Lifetime Savings Association (PLSA) has appointed Zoe Alexander as its new director of policy and advocacy
Posted: 7/8/24
Concerns have been raised about the lack of public disclosure from insurers regarding funded reinsurance (FundedRe) following the publication of new policy expectations from the Prudential Regulatory Authority (PRA)
Posted: 7/8/24
The Local Authority Pension Fund Forum (LAPFF) has published a report outlining its recommendations for UK climate policy, warning that the next stage of addressing the energy transition will be more challenging
Posted: 07/08/24
HMRC repaid a total of £57m to people who overpaid tax when they flexibly accessed their pensions in Q2 2024, the latest government Pension Schemes Newsletter has revealed
Posted: 7/8/24
The BPT Retirement Benefits Scheme has completed a £20m full scheme buy-in with Aviva, securing the benefits of 49 deferred members and 50 pensioners
Posted: 07/08/24
The Britannia Pension Scheme has completed the sale of a private credit fund exposure using the Isio Fund Liquidity Options (i-FLO) platform
Posted: 7/8/24