Latest News
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FCA pushes ahead with targeted support proposals
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Bulk annuity pricing for DB schemes at ‘best level’ in over two years
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Govt urged to examine impact of pension reforms on small businesses
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Industry welcomes 'gamechanger' targeted support proposals; final hurdles still to be overcome
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New CMI model leads to ‘significant increase’ in pensioner life expectancy
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PA Northern Conference: Govt needs to support sustainability transition for progress to be made
Archive News
The Continuous Mortality Investigation (CMI) has published its latest Mortality Projections Model, with the new model set to lead to a "significant" increase in liabilities for pension schemes that choose to use the core model “out-of-the-box”
Posted: 30/6/2025
Using a lifetime individual savings account (LISA) to save for retirement is working well for self-employed people, although changes are needed to ensure they are treated the same way as other pension savings products, the Treasury Committee has found
Posted: 30/6/25
Further pension reforms could see small firms raise prices, cut jobs, or slash profits, the Federation of Small Businesses (FSB) has warned, urging the government to explicitly examine how workplace pension changes impact small employers
Posted: 306/25
Industry experts have welcomed the Financial Conduct Authority's plans to allow firms to offer targeted support to help consumers with their pensions and investment decisions, suggesting that the plans could be a "gamechanger" for many
Posted: 30/6/25
The UK defined benefit (DB) pension scheme bulk annuity market is seeing its best pricing for over two years, according to Aon
Posted: 30/6/2025
The Financial Conduct Authority (FCA) is consulting on plans to allow firms to offer targeted support and provide suggestions to groups of consumers with common characteristics, in what has been hailed as a "once-in-a-generation" advice change.
The FCA said that the targeted support proposals have the potential to act as a stepping stone to simplified or more comprehensive investment advice, as well as supporting UK growth by enabling increased investment and innovation
The FCA said that the targeted support proposals have the potential to act as a stepping stone to simplified or more comprehensive investment advice, as well as supporting UK growth by enabling increased investment and innovation
Posted: 30/6/25
PCS members working for pensions administrator MyCSP have announced they will take six weeks’ strike action starting on 7 July in support of their campaign for full union recognition
Posted: 30/6/2025
If the government does not “get behind” the sustainability transition, then progress simply won’t happen, Trustee Sustainability Working Group (TSWG) founder and chair, Bobby Riddaway, has warned
Posted: 27/6/25
The government’s Pension Schemes Bill could "reshape" the UK pensions landscape, according to Pensions and Lifetime Savings Association (PLSA) deputy director of policy, Joe Dabrowski
Posted: 27/6/25
With only two weeks remaining until the entry deadline for the Irish Pensions Awards 2025, now is the time to showcase your achievements, innovations, and dedication to excellence in pensions
Posted: 27/06/25
The Milliken Industrials Limited Pension Plan has completed a £44m buy-in with Royal London, securing the benefits of around 500 members
Posted: 27/6/2025
Seven out of the 14 remaining voluntary participants (VPs) are “very close” to finishing their connection journey to the pensions dashboard ecosystem, including the state pension team, Pensions Dashboards Programme (PDP) principal, Chris Curry, has confirmed
Posted: 27/6/25
Legal & General (L&G) has announced that it will be providing defined benefit (DB) pension scheme trustees and employers with the capability to transfer surplus funds into defined contribution (DC) scheme arrangements, including the L&G Mastertrust
Posted: 27/6/25
Pensions Age looks back on the key developments in the industry this week, including news from the Pensions Age Northern Conference, research on financial literacy and confidence, and government policy updates
Posted: 27/6/2025
The latest news in brief and mandates from the past seven days
Posted: 27/6/25
The Pensions Regulator (TPR) is preparing to launch a “big initiative” in the next few months focused on whether commercial master trusts should be required to include member-nominated trustees (MNTs), TPR interim executive director of market oversight, Julian Lyne, has revealed
Posted: 27/6/25
Royal London has published its first Climate Transition Plan, which outlines four key areas of action to support its climate commitments
Posted: 26/6/2025
The Pensions Regulator (TPR) has urged asset managers and the investment industry to play their part in the "pensions revolution" by bringing forward innovations and new investment products that deliver long-term value
Posted: 26/6/25
The number of large master trust sections in the defined contribution (DC) pension sector rose by 12 per cent in 2025, according to Barnett Waddingham’s latest Large DC Schemes Analysis
Posted: 26/6/2025
Lifetime annuity rates have surged to their highest levels of the decade so far, according to the Standard Life Annuity Rates Tracker, reaching 7.72 per cent for a healthy 65-year-old.
Posted: 26/6/2025
Unnecessary complexity, excessive paperwork, and discouragement from existing providers are deterring savers from transferring their pensions, research from Penny Pensions has revealed
Posted: 26/6/25
The pension contribution gap between men and women aged 30 - 45 has increased by an average of 3 per cent since 2022, data from Aviva has revealed
Posted: 26/6/2025
Three pension schemes sponsored by Baker Hughes have completed simultaneous buy-ins with Pension Insurance Corporation (PIC), worth a combined £900m
Posted: 26/6/25
Work and Pensions Committee (WPC) Chair Debbie Abrahams has written to the Pensions Minister, Torsten Bell, to request further insight on several issues the WPC is investigating as part of its pensioner poverty inquiry, including indexation of pension compensation for pre-1997 benefits
Posted: 26/6/25
The government has announced that it is considering whether to update the current rules surrounding pension schemes' sustainability reporting, confirming that it will review the 2021 Climate Change Reporting Regulations this year as part of this.
The update was one of a number of measures announced by the government today, as it shared three consultations, which form part of the first phase of its work to modernise the UK’s sustainable finance framework
The update was one of a number of measures announced by the government today, as it shared three consultations, which form part of the first phase of its work to modernise the UK’s sustainable finance framework
Posted: 25/6/25
The number of working people who believe they will never be able to afford to retire is on the rise, according to research by Wealth at Work, with the increased cost of living cited as a key factor
Posted: 25/6/2025
The defined contribution (DC) section of Schroders Retirement Benefits Scheme (SRBS) has allocated £48m, 20 per cent of the default growth fund, to the Schroders Capital Climate+ Long Term Asset Fund (LTAF) as it looks to enhance its private markets exposure
Posted: 25/6/25
Retirement optimism in the UK is slowly increasing, but there is still a long way to go, as over half (52 per cent) of Brits are not optimistic about being prepared for retirement, research from State Street Global Advisers has revealed
Posted: 25/6/25
Trafalgar House has launched an online budget modeller in light of the latest update to The Pensions and Lifetime Savings Association’s (PLSA) Retirement Living Standards (RLS)
Posted: 25/6/25
Defined benefit (DB) pension transfer values fell to a new month-end low in May 2025, according to XPS Group's Value Index, marking a third consecutive monthly record low
Posted: 25/6/2025
Nearly three quarters (70 per cent) of defined benefit (DB) schemes believe there is a barrier to progressing toward endgame, according to LCP’s Pensions Industry Report, with around a third citing data quality and benefit issues as their main concerns
Posted: 24/6/25
The Pensions Research Accountants Group (PRAG) has launched a consultation on proposed changes to the draft Statement of Recommended Practice (SORP), Financial Reports of Pension Schemes 2025
Posted: 24/6/25
Pension funds could "revive" UK markets and growth at no cost to the government by investing 25 per cent of new contributions in UK growth assets in exchange for “generous” tax reliefs, Baroness Ros Altmann has said
Posted: 24/6/25
People who pay rent in retirement are 'substantially' less likely to achieve the minimum standard of living in retirement, according to an analysis by Hymans Robertson
Posted: 24/6/2025
The government has been urged to adopt a relative pension adequacy measure, rather than a 'pounds and pence approach', with analysis from Hargreaves Lansdown suggesting that relative measures better reflect the income needs of different groups
Posted: 24/6/25
The Women Against State Pension Inequality (Waspi) campaign has secured a "vital safeguard" for its legal case against the Department for Work and Pensions (DWP), as the government agreed to a 'costs capping order' that would limit their liability for legal costs to £60,000
Posted: 24/6/2025
The longer people wait to start saving for retirement, the worse off they could be, Standard Life has said, after its research found that delaying saving by five years in a person's twenties could mean £40,000 less in retirement
Posted: 24/6/24
Concerns around gig economy workers' pension savings have continued to grow ahead of Glastonbury Festival, with PensionBee chief business officer UK, Lisa Picardo, warning that many workers making the event happen will earn nothing towards their retirement
Posted: 24/6/25
Over a quarter (27 per cent) of 45–54-year-olds say they have no understanding “at all” of pension terminology, research from Get Britain Pension Ready, a campaign by Annuity Ready, has revealed
Posted: 23/6/25
Society of Pension Professionals (SPP) council member, Matt Masters, discusses the need for the government to act sooner rather than later to address pension adequacy concerns
Posted: 23/6/25
The Pensions Ombudsman (TPO) has partly upheld a complaint against ReAssure due to the "significant" distress and inconvenience its maladministration caused the complainant
Posted: 23/6/25
European pension administration technology provider, Festina Finance, has announced its expansion into the UK market, confirming that the group is now fully operational in the UK
Posted: 23/6/25
The government has written to the departments responsible for the McCloud remedy, requesting details of their plans to issue remaining remediable service statements and remediable pension savings statements to all affected members.
Providing an update in the House of Commons, Economic Secretary to the Treasury, Emma Reynolds, emphasised that whilst there have been delays, "delivering the remedy to more than 3 million affected scheme members is also an intensive administrative challenge"
Providing an update in the House of Commons, Economic Secretary to the Treasury, Emma Reynolds, emphasised that whilst there have been delays, "delivering the remedy to more than 3 million affected scheme members is also an intensive administrative challenge"
Posted: 23/6/25
Less than two-fifths (39 per cent) of people agree they have a clear understanding of their retirement options, according to research from Hargreaves Lansdown, which revealed ongoing confusion around retirement planning
Posted: 23/6/25
Two unnamed schemes have completed a multi-scheme buy-in worth £67m with Just Group, securing the benefits of all members of the scheme, including 675 pensioners and dependants, as well as 256 deferred members
Posted: 23/6/2025
The Bank of England’s (BoE) decision to maintain the base rate of 4.25 per cent is expected to bring “welcome stability” to those planning for retirement, supporting annuity rates and competitive savings products
Posted: 20/6/25
The Pensions Ombudsman (TPO) has confirmed that it is liaising with the Department for Work and Pensions (DWP) on the impact of a 2024 Court of Appeal decision, which could mean that some individuals will not have access to any ombudsman
Posted: 20/6/25
The latest news in brief and mandates from the past seven days
Posted: 20/6/25
Pensions Age looks back on the key developments in the industry this week, including further discussion of the Pension Schemes Bill and updates from the Pensions and Lifetime Savings Association’s (PLSA) Local Authority conference
Posted: 20/6/25
The Pensions Ombudsman's (TPO) pilot Pensions Dishonesty Unit (PDU) has come to an end, after broader government funding constraints meant that funding for the PDU ended on 31 March 2025
Posted: 19/6/24
Changes in the pensions market, alongside regulatory reforms, are set to drive sustained demand for advisory and administration services, XPS Pensions Group has said, as it latest accounts revealed further growth in its total group revenue over the past year
Posted: 19/6/25
HMRC has announced a further policy change to VAT deduction on the management of pension funds, confirming that it will no longer view investment costs as being subject to dual use
Posted: 19/6/25
Increasing numbers of local authority pension funds are expected to reduce their contributions in light of funding surpluses, Financial Times contributing editor, Toby Nangle, has predicted
Posted: 19/6/25
Independent schools should carefully consider if the benefits of the Teacher’s Pension Scheme (TPS) and Scottish Teacher's Pension Scheme (STPS) outweigh the potential risks of staff redundancies or staff pay cuts, Hymans Robertson has said
Posted: 19/6/25
The Pensions Regulator (TPR) has urged trustees to take practical steps to prepare for the Pension Schemes Bill, confirming that it will look to bridge the gap between the introduction of new duties in the bill and the ‘here and now’ need to govern schemes well
Posted: 19/6/25
The Government Actuary's Department’s (GAD) triennial review of Local Government Pension Scheme (LGPS) funds valuations will focus on funds that are releasing surplus most slowly or quickly, and those implementing non-standard approaches, GAD actuary, Garth Foster, has stated
Posted: 18/6/25
Local Government Pension Scheme (LGPS) independent governance review requirements could well have “teeth” that “bite”, meaning that compliance must be more than just a “tick-box exercise”, South Yorkshire Pensions Authority director, George Graham, has warned
Posted: 18/6/25
With Local Government Pension Scheme (LGPS) pools set to grow further in size and responsibility as a result of recent government reforms, it cannot become a case of ‘us versus them’, the local authority funds versus the pools, Hymans Robertson has warned
Posted: 18/6/25
The combined IAS19 funding level for the defined benefit (DB) UK pension schemes of FTSE100 companies remained strong at over £50bn amid recent government and regulatory announcements on DB plans, LCP’s Pensions Explorer has revealed
Posted: 18/6/25
An increase in savings into pension funds may increase the amount of investment available for productive assets, the Financial Services Regulation Committee has found, although concerns around mandating pension fund investments remain
Posted: 18/6/25
The Pensions Ombudsman (TPO) has upheld a complaint against Cru Construction (Services) Ltd for failing to pay contributions into a worker’s Nest pension despite deducting contributions from his pay
Posted: 18/6/24
Local Government Pension Scheme (LGPS) local investments may slow down as a result of greater consolidation, Foresight Group partner and co-head of private equity, Matthew Smith, has warned
Posted: 18/6/25
Six industry volunteer participants have now completed their dashboards connection journey, with a further six past the most ‘tricky part’ of integration, Pensions Dashboards Programme (PDP) principal, Chris Curry, has confirmed
Posted: 18/6/25
The London Pensions Fund Authority (LPFA) has committed to investing around £400m, approximately 5 per cent of the fund's current value, in climate solutions by 2030
Posted: 18/06/25
There is a “significant” gender divide in how people perceive the pensions industry, Trafalgar House has said, after its research showed that 43.1 per cent of men rated their trust in pensions at 6 or above, compared to 33.5 per cent of women
Posted: 18/6/25
More than half (57 per cent) of UK gig economy workers can't afford to save into a pension, research from PensionBee has revealed, prompting 'urgent calls' for a universal pension system
Posted: 17/6/25
The trustee of the Church Mission Society (CMS) Pension Scheme has completed a deal with Clara Pensions, marking the first superfund transaction using Clara's 'connected covenant' structure, as well as the first deal involving a not-for-profit sponsor
Posted: 17/6/25
Simpler pension transfers took an average of 11 days to complete in the 12 months to 31 March 2025, despite this being one of the busiest times for the industry ahead of the tax year end, analysis from Origo has revealed
Posted: 17/6/25
The government should commit to undertaking a cross-party review to agree on what an adequate income in later life should be, Independent Age has said
Posted: 17/6/25
Natwest Cushon has announced plans to invest in natural capital, with its Sustainable Investment Strategy committing to a 2 per cent allocation to the Aviva Investors Carbon Removal Fund
Posted: 17/6/25
A default approach could help close the retirement savings gap for self-employed people, according to research by Nest Insight
Posted: 16/6/25
Cost-of-living pressures continue to impact consumers’ approach to pension savings, according to the annual Financial Resilience Report published by Royal London
Posted: 16/06/25
The Financial Fairness Trust has called for a range of improvements to the government’s Pensions Scheme Bill, with an aim to help lower earners
Posted: 16/06/25
The Cabinet Office has been urged to fix persistent service issues ahead of Capita’s takeover of the Civil Service Pension Scheme’s (CSPS) administration, after a National Audit Office (NAO) report found it failed to hold MyCSP to account or drive improvements through its contract
Posted: 16/6/25
A new cross-sector initiative has officially launched aimed at providing impartial, expert insight as defined benefit (DB) pension schemes face crucial endgame decisions at an “unprecedented pace”
Posted: 16/6/25
Brunel Pension Partnership chief responsible investment officer, Faith Margaret Ward, has been recognised in the King’s Birthday Honours List 2025, alongside former Legal & General Investment Management chief executive officer, Michelle Scrimgeour, and other industry figures
Posted: 16/6/25
The McGregor Construction (Highlands) Limited Pension Plan has completed a £7m buy-in with Just Group, securing the benefits of 66 pensioners and eight deferred members at Pension Protection Fund+ (PPF) levels
Posted: 16/6/25
Phoenix Group’s think tank, Phoenix Insights, has rebranded to Standard Life Centre for the Future of Retirement as part of its ambition to help people achieve long-term financial security
Posted: 16/6/25
An end-to-end service aimed at helping small pension schemes with risk transfer and investment challenges has been launched by Hymans Robertson
Posted: 13/06/25
Market volatility and economic uncertainty are leading investors towards active management as a means to strengthen portfolio resilience, according to Schroders’ Global Investor Insights survey
Posted: 13/06/25
The majority of defined benefit (DB) pension schemes say it is "still too early to say" whether the use of surplus proposals will affect their strategy, according to a poll carried out by LCP
Posted: 13/06/25
Reforms to address small pot issues must strike the "right balance" between improving value for members and creating further autonomy for the government over pension policy in this area, Sackers partner, Jacqui Reid, has said
Posted: 13/6/2513/613/6
Three quarters (75 per cent) of pension professionals have identified underpins and 'better of' tests as the most challenging or complex benefits to simplify, according to research from the Society of Pension Professionals (SPP)
Posted: 13/6/25
Pensions Age looks back on the key developments in the industry this week, including the conflict between the government growth agenda and fiduciary duty, updates from regulators and government as well as several pieces of important research
Posted: 13/6/25
The latest news in brief and mandates from the past seven days
Posted: 13/6/25
The Pensions Regulator (TPR) chief executive, Nausicaa Delfas, has called on the pensions industry to seize the opportunity presented by the Pension Schemes Bill to raise standards and deliver better outcomes for savers
Posted: 12/6/25
Fiduciary managers (FMs) are still recovering from the financial shocks of recent years, and long-term investment performance remains underwhelming, according to a report from Barnett Waddingham
Posted: 12/06/25
The average pension income for a carer has fallen to 49 per cent of the national average, research by Now Pensions has revealed, down from 55 per cent in 2020 highlighting a widening savings gap
Posted: 12/6/25
More than half (54 per cent) of savers don’t know how much their employer is contributing to their pension funds, while 43 per cent do know how much their contributions are, according to research by Scottish Widows
Posted: 12/06/25
A decade after the introduction of pension freedoms, fewer than half (47 per cent) of UK savers said they were aware of the options available to them at retirement, and just 27 per cent reported that they understood the reforms and their implications, according to new research by AKG
Posted: 12/06/25
The Pension Protection Fund (PPF) has released its Diversity, Equity and Inclusion (DEI) Strategy for 2025–2028, outlining plans to further integrate equity across the organisation and continue its commitment to being an inclusive employer
Posted: 12/6/25
Broadstone has announced the acquisition of ExactVAL, aimed at strengthening its capabilities in the life insurance and bulk purchase annuity (BPA) market, for an undisclosed amount
Posted: 12/6/25
The MGN Pension Scheme has completed a c. £150m pensioner buy-in with Just Group, securing the benefits of around 1,300 in-payment members
Posted: 12/6/25
Chancellor, Rachel Reeves, has delivered her Spending Review, announcing an expansion of the British Business Bank’s (BBB) financial capacity and a reversal of planned cuts to winter fuel payments
Posted: 11/6/25
Defined contribution (DC) pension schemes are facing "growing tensions" between political pressure to invest in UK assets and their fiduciary duty to act in members’ best interests, the DC Investment Forum (DCIF) has warned
Posted: 11/6/25
The Department for Education has confirmed “significant” progress in clearing the backlog of pension transfer requests within the Teachers’ Pension Scheme (TPS), following the implementation of key reforms in April 2025
Posted: 11/6/25
The majority of pension savers are not confident they can afford to retire, according to research from Hargreaves Lansdown, which found that 36 per cent of people surveyed are confident they can afford to retire
Posted: 11/6/25
The Pensions Minister, Torsten Bell, has reached out to the Work and Pensions Committee (WPC) to discuss the Pension Schemes Bill
Posted: 11/6/25
UK pension scheme trustees should take a more active role in holding insurers accountable for member outcomes and sustainability approaches when considering buyout transactions, Zedra has said
Posted: 11/6/25
TPT Retirement Solutions has launched a new defined contribution (DC) decumulation solution designed to simplify retirement income planning for savers
Posted: 11/6/25
The average time to buyout for a FTSE350 defined benefit (DB) pension scheme fell to an all-time low of 3.6 years in May 2025, according to Barnett Waddingham’s DB End Gauge Index
Posted: 10/6/25
The Pension Protection Fund's (PPF) 7800 Index for May painted a positive picture of defined benefit (DB) schemes, as the aggregate surplus of the 4,969 schemes in the PPF 7800 Index increased by £18.6bn, rising from £202.5bn to £221.1bn
Posted: 10/6/25
Just over a third (35 per cent) of salaried workers are enrolled in their company’s salary exchange scheme, Scottish Widows has found, warning that the rest could be missing out on a pensions pot boost potentially worth tens of thousands of pounds
Posted: 10/6/25
The Pensions Ombudsman (TPO) has confirmed that it will continue to increase its operational efficiency in order to address issues around growing caseloads and wait times, targeting a further 4 per cent year-on-year improvement target for 2025/26
Posted: 10/6/25
Just over three quarters (76 per cent) of defined benefit (DB) pension trustees are intending to adopt the new statutory override to give themselves the power to distribute surplus, research from XPS Group has revealed
Posted: 10/6/25
The government has confirmed that it will continue work on broader pension reform issues alongside the work outlined on the pensions roadmap, suggesting that some of this work could be seen before the end of the five-year timeline mapped out
Posted: 9/6/25
Three-quarters (76 per cent) of people over 50 believe risk appetite is an important factor when making decisions about their pension, and two out of five (41 per cent) expect to have a lower risk tolerance as they approach retirement, according to research from Standard Life
Posted: 9/6/25
The majority (83 per cent) of insurers and insurance asset managers believe the risk profiles of their investment portfolios will increase in the year ahead, with 20 per cent expecting a dramatic increase, research by Ortec Finance revealed
Posted: 9/6/25
The UK is facing a “serious retirement readiness gap”, according to research from Barnett Waddingham, which found that men are likely to live four years longer than they expect, while women are underestimating their lifespan by a “staggering” seven years
Posted: 9/6/25
Most pensions savers do not know their retirement funds are invested in the markets, according to research from Hargreaves Lansdown (HL), which found that 40 per cent of people surveyed know that their pension was invested in the stock market
Posted: 9/6/25
Mercer, a Marsh McLennan business, has reached an agreement to acquire the UK investment advisory firm Fundhouse for an undisclosed amount
Posted: 9/6/25
The government has outlined an indicative timeline for the next five years of pension reform, confirming that consultations and regulations for many of the initiatives included in the Pension Schemes Bill won’t be launched until 2027 at the earliest
Posted: 6/6/25
The Financial Ombudsman Service (FOS) has launched a consultation on the interest rates applied to compensation awards
Posted: 6/6/25
Concerns around the potential for the government to mandate pension investments have continued, with industry experts warning that certain details within the Pension Schemes Bill could be seen as "introducing mandation by the back door”
Posted: 6/6/25
The latest news in brief and mandates from the past seven days
Posted: 6/6/2025
Pensions Age looks back on the key developments in the industry this week, including the Pension Schemes Bill, updates from The Pensions Regulator (TPR) and the Pensions and Lifetime Savings Association's (PLSA) revised Retirement Living Standards
Posted: 6/6/25
The Pensions Regulator (TPR) has announced its intention to launch a new strategy to drive up standards of trusteeship, aimed at bringing trusteeship into line with other professions and corporate governance standards
Posted: 6/6/25
Defined benefit (DB) funding levels improved throughout May, while markets continued to be volatile amid tariff uncertainty, Broadstone's Sirius Index has revealed
Posted: 6/6/2025
Industry experts have suggested that there will be "collective sigh of relief" after the government confirmed that it will introduce legislation to deal with issues arising from the Virgin Media judgment
Posted: 6/6/25
The vast majority (88 per cent) of individuals who had changed jobs were not informed or did not recall being informed about their pension during their exit interviews, a survey from Penny has revealed
Posted: 5/6/2025
Industry experts have warned that "time is running out" to address pension adequacy issues, with the latest updates from government suggesting that phase two of the pension review will be launched "in the coming months"
Posted: 5/6/25
The Grant Thornton Pensions Fund has secured a £275m buy-in with Royal London, securing the benefits of around 2,200 members
Posted: 5/6/25
The government has confirmed that whilst the formal Dashboards Available Point (DAP) provision does not apply to the government-backed MoneyHelper pensions dashboard, it will still take the same approach, including giving due notice before launch
Posted: 5/6/25
The Pensions Minister, Torsten Bell, has warned that calls to use the Pension Protection Fund’s (PPF) surplus to fund inflationary increases are not as “straightforward” as suggested
Posted: 5/6/25
Industry experts have broadly welcomed the Pension Schemes Bill, praising its emphasis on consolidation, value for money (VfM), and long-term reform, although concerns remain over the implementation of measures within the bill and timing.
The Pensions Schemes Bill provides further updates on a number of upcoming reforms, including the value for money framework, plans to address small pots, and regulations aimed at assisting individuals in managing their pension pots throughout retirement
The Pensions Schemes Bill provides further updates on a number of upcoming reforms, including the value for money framework, plans to address small pots, and regulations aimed at assisting individuals in managing their pension pots throughout retirement
Posted: 5/6/25
The government has published the new Pension Schemes Bill, estimating that around 20 million people could stand to benefit from the reforms outlined.
The bill provides further insight into a number of the government's upcoming reforms, including the value-for-money framework and plans to introduce increased flexibility for defined benefit (DB) pension schemes to release surplus funds safely
The bill provides further insight into a number of the government's upcoming reforms, including the value-for-money framework and plans to introduce increased flexibility for defined benefit (DB) pension schemes to release surplus funds safely
Posted: 5/6/25
Callum Conway looks at the events leading up to the announcement that cuts to winter fuel payments would be 'revisited' and evaluates the impact of potential policy changes on pensioners
Posted: 4/6/2025
Annuity rates are at their highest level in 16 years, according to recent data from Canada Life, although many consumers remain reluctant to switch providers or shop around for the best deal
Posted: 4/6/2025
UK pension schemes are undergoing a structural shift in asset allocation, with a growing focus on private markets, productive finance, and long-term diversification, research by the Pension Policy Institute (PPI) has suggested
Posted: 4/6/25
The Pensions Regulator (TPR) has granted a modification order to the trustee of the Littlewoods Pensions Scheme, which will enable the surplus remaining at the end of winding-up to be paid to the sponsor
Posted: 4/6/25
Industry experts have raised concerns over the updated definition of stewardship in the Financial Reporting Council's UK Stewardship Code 2026, with particular disappointment around the removal of direct reference to the environment and society
Posted: 4/6/25
More than half of defined benefit (DB) pension schemes have been actively considering sharing surplus funds, research from LCP has revealed
Posted: 3/6/2025
The Pensions Regulator (TPR) has published guidance for trustees and employers of defined benefit (DB) and DB/defined contribution (DC) hybrid schemes on long-term objectives and ongoing scheme management
Posted: 3/6/25
Millennials are the most "in the dark" generation when it comes to pensions, research from InvestEngine has found, with just over half (51 per cent) admitting they rarely think about their pension
Posted: 3/6/25
The Pensions Ombudsman (TPO) has upheld a complaint against S Ltd after the company was unable to provide any legal justification for refusing to transfer the complainant's benefits or a reasonable explanation for the delay in processing the transfer
Posted: 3/6/25
The LGBTQ+ community is "crying out" for retirement guidance, advice, and support, according to research from Barnett Waddingham, which showed that although the vast majority (93 per cent) would seek advice for retirement, nearly a third would be unsure who to trust
Posted: 3/6/2025
The Financial Reporting Council (FRC) has published the UK Stewardship Code 2026, which includes a number of updates designed to support long-term sustainable value creation while also "significantly" reducing the reporting burden for signatories
Posted: 3/6/25
The Pensions and Lifetime Savings Association (PLSA) has updated its Retirement Living Standards (RLS), revealing that whilst the cost of the minimum retirement lifestyle has decreased, the costs associated with moderate and comfortable lifestyles have increased
Posted: 3/6/25
Actuaries do not always adequately explain benefit changes to members, research from the Institute and Faculty of Actuaries (IFoA) has suggested, prompting calls for an increased focus on ‘clear communication'
Posted: 2/6/2025
Railpen has increased its stewardship efforts in response to what it views as a growing “race to the bottom” among companies and policymakers on financially material issues, including climate change, workforce practices, and shareholder rights
Posted: 2/6/25
The vast majority of UK pension savers (83 per cent) have “no idea” what they’re paying in pension fees in either pound or percentage terms, according to research from Interactive Investor, which has prompted calls for providers to be more transparent
Posted: 2/6/2025
The government has been warned against any changes to salary sacrifice arrangements, with the Society of Pension Professionals (SPP) arguing that any changes to the current set up could see the extra tax burden hit members and their savings "very selectively"
Posted: 2/6/25
The government should "urgently reaffirm" its commitment to enabling a thriving market of private sector pensions dashboards, the Association of British Insurers has said, warning that relying on a single, state-owned dashboard could fall short of industry expectations
Posted: 2/6/25
The Pensions Regulator (TPR) has published its final response to its Statement of Strategy consultation, confirming its plans to launch a 'submit a scheme valuation' digital service, which trustees will use to complete and submit their Statement of Strategy
Posted: 30/05/25
Industry experts are generally supportive of the government's policy direction and desired outcomes for the Local Government Pension Scheme (LGPS), but concerns remain over the “overly ambitious” timing of delivering and implementing the changes
Posted: 30/05/25
Government plans to allow employers to extract cash from defined benefit (DB) pension schemes could put millions of people's pensions at risk and should be reconsidered, a new campaign group has warned
Posted: 30/5/2025
The London Waste Limited Pension Scheme has completed a £22m buy-in with Royal London, securing the retirement benefits for around 200 members
Posted: 30/5/25
The latest news in brief and mandates from the past seven days
Posted: 30/5/2025
Pensions Age looks back on the key developments in the industry this week, including the much-anticipated final Pension Investment Review report and the government’s response to the consultation on options for defined benefit (DB) schemes
Posted: 30/05/25
Industry experts have welcomed the government's plans to lift restrictions on how pension scheme surpluses are used
Posted: 29/05/2025
Pensions Minister, Torsten Bell, has said he is “not anticipating using” the backstop set to be introduced in the Pension Schemes Bill that would allow the government to set binding asset allocation targets for pension schemes.
Speaking to Pensions Age about the final Pension Investment Review report, Bell stated that he was “confident” the government would not need to mandate
Speaking to Pensions Age about the final Pension Investment Review report, Bell stated that he was “confident” the government would not need to mandate
Posted: 29/05/25
The government has said it will share further information on the timings and terms of reference for phase two of the pension review in "due course", after it failed to provide updates on the next step for the second phase in its final Pension Investment Review report
Posted: 29/5/25
Pathlines, in collaboration with Guiide and Invesco, has launched a new tool to provide non-advised defined contribution (DC) pension savers with guided support to help them self-manage their drawdowns
Posted: 29/05/2025
London CIV has become the first Local Government Pension Scheme (LGPS) pool to announce its intention to work with the British Business Bank on the launch of the British Growth Partnership
Posted: 29/5/25
Industry experts have welcomed the clarity provided by the final Pension Investment Review report, praising the focus on value for money and consolidation, although there is widespread concern over the "unprecedented" move towards mandating investment
Posted: 29/05/2025
Just over one in ten (12 per cent) finance leaders in companies with a defined benefit (DB) pension scheme are currently making use of a corporate sole trustee (CST), despite widespread familiarity with the role, research from LawDeb has revealed
Posted: 29/5/25
The government has published its response to the consultation on options for defined benefit (DB) schemes, confirming that it is looking to make changes to DB surplus rules, and is also continuing to consider a consolidator for DB schemes, run by the Pensions Protection Fund
Posted: 29/5/25
The government has shared the final Pension Investment Review report, revealing that it will take a reserve power in the Pension Schemes Bill to set binding asset allocation targets, as it moves ahead with plans to double the number of UK pension megafunds by 2030
Posted: 29/5/25
The majority (93 per cent) of UK businesses with closed defined benefit (DB) pensions schemes larger than £500m plan to request access to surplus once government rules are amended, research from Brightwell has revealed
Posted: 28/5/25
Smart Pension has announced plans to invest up to 15 per cent of its flagship fund into private markets, as it looks to support the UK government's efforts to encourage investment into national infrastructure and private companies
Posted: 28/5/25
The Living Wage Foundation has announced that the Living Pension accreditation has been extended to include defined benefit (DB) pension schemes
Posted: 28/5/25
Defined contribution (DC) pension schemes reported mixed returns over Q1 2025, as strategies with a greater allocation to equities saw weaker performance than more diverse strategies, which provided some downside protection, Isio has revealed
Posted: 28/5/2025
Nearly half (45 per cent) of pension professionals have indicated that about half of the schemes they are advising on a potential transaction expect a material surplus of 5 per cent or more, research from the Society of Pension Professionals (SPP) has suggested
Posted: 28/5/25
Defined benefit (DB) pension transfer values hit a historic low of £137,000 in mid-April 2025, according to XPS Group's Value Index, marking the first time the index has dropped below £140,000 since its inception
Posted: 28/5/25
The Morrisons Retirement Saver Plan has completed a £270m buy-in with Aviva, securing the retirement benefits of over 32,000 deferred members of the RSP Section of the scheme
Posted: 28/5/25
Nearly two thirds (63 per cent) of the profit warnings issued by UK-listed companies with a defined benefit (DB) pension scheme so far in Q2 have cited the direct or indirect impact of tariffs and resulting recent market disruption, EY-Parthenon’s latest report has revealed
Posted: 28/5/25
Consolidating pension funds has the potential to reduce fees and expand access to diverse asset classes, the International Monetary Fund (IMF) has said, but warned it would be "important to guard against possible unintended side effects", including reduced competition
Posted: 27/05/25
The government has published research commissioned by HMRC, which asked questions about attitudes to salary sacrifice and tested employer reactions to three different ways in which the benefit could be 'hypothetically' cut back
Posted: 27/05/2025
The Public and Commercial Services Union (PCS) is preparing to ballot its members at the pensions administration firm MyCSP to decide whether they should take strike action
Posted: 27/05/25
One in six (16 per cent) of UK adults use gut instinct or guesswork to gauge their retirement savings target, research from Standard Life’s Retirement Voice report has revealed
Posted: 27/05/2025
Six in 10 people ‘don’t know’ their pension is invested, according to a survey by Opinium, on behalf of Hargreaves Lansdown (HL)
Posted: 27/05/2025
Phoenix Group has taken steps to make it easier to change its name, with reports indicating that it is planning to switch to the Standard Life brand, a company it acquired in 2018
Posted: 23/05/25
Now is the time for defined benefit (DB) sponsors to reflect on their endgame strategies and take decisive action, Hymans Robertson has said, as surpluses become increasingly common and legislative change looms with the upcoming Pension Schemes Bill
Posted: 23/05/25
Pension credit application processing times peaked at 87 working days in December 2024, significantly above the Department for Work and Pensions (DWP) 50-working-day target, according to a freedom of information (FOI) request from Quilter
Posted: 23/05/25
Railpen has announced the sale of its third-party pension administration business to Broadstone, covering over 20 pension schemes, and more than 110,000 UK members
Posted: 23/05/25
A petition calling for Hertfordshire Local Government Pension Scheme (HLGPS) to divest from companies “complicit in war crimes, apartheid and occupation” has been backed by more than 1,500 signatures
Posted: 23/05/2025
The latest news in brief and mandates from the past seven days
Posted: 23/05/2025
Pensions Age looks back on the key developments in the industry this week, including updates from the regulators, the launch of an Financial Conduct Authority (FCA) consultation, and research on the UK government's growth agenda
Posted: 23/05/25
The Financial Services Compensation Scheme (FSCS) has lowered its annual levy expectation for 2025/26 to £356m, £36m lower than its forecast in November
Posted: 22/05/2025
The Financial Conduct Authority (FCA) has launched a consultation seeking views on proposals to improve the way regulated firms report customer complaints to the regulator, and the changes to the associated complaints reporting rules
Posted: 22/05/25
The Department for Work and Pensions (DWP) identified 12,379 underpayments between 8 January 2024, and 31 March 2025, totalling around £104m in arrears for those affected by Home Responsibilities Protection (HRP) State Pension underpayments
Posted: 22/05/25
The Northern Ireland Local Government Pension Officers’ Superannuation Committee (NILGOSC) has appointed Isio as investment adviser, following a rigorous selection process conducted through the national Local Government Pension Schemes (LGPS) framework
Posted: 22/05/2025
Royal London has agreed to acquire Dalmore Capital, a UK-based infrastructure asset manager, subject to regulatory approval
Posted: 22/05/25
Returns available to pension savers through guaranteed income for life solutions have reached new highs in early 2025, according to data from Just Group
Posted: 22/05/2025
There is a “concerning” lack of satisfaction among DB pension members who transferred to DC schemes, with only 68 per cent happy with their decision over the past four years, according to Broadstone
Posted: 22/05/25
More than four in five (86 per cent) defined benefit (DB) schemes are currently running at a surplus, though 36 per cent said they "need advice" on how to use it, according to research from LawDeb
Posted: 21/05/2025
The Pensions Regulator (TPR) has called for industry collaboration to tackle the UK’s “unfinished” pension system, as it rolls out new regulatory approaches and support ahead of the delivery of upcoming legislative reforms in the Pension Schemes Bill
Posted: 21/5/25
Defined benefit (DB) pension scheme funding levels have hit a record high, with three in four DB schemes now in surplus and deficit payments down by over £10bn a year, analysis from the Department for Work and Pensions (DWP) has revealed
Posted: 21/5/25
More than one in five (21 per cent) people have lost track of a pension, a survey conducted by Opinium on behalf of Hargreaves Lansdown has revealed
Posted: 21/05/2025
Black individuals in the UK expect to enjoy nearly five more years in retirement and receive £8,000 more in annual pension income than the UK average, despite facing a 14.8 per cent ethnicity pay gap, Barnett Waddingham research has revealed
Posted: 21/5/25
Marks and Spencer Group PLC (M&S), SSE and Severn Trent have published their annual results for the year ending March 2025, revealing funding improvements across their defined benefit (DB) pension schemes
Posted: 21/05/2025
The majority (82 per cent) of institutional investors, including UK pension funds, think that exchange-traded funds (ETFs) are moving away from short-term asset allocation strategies to core portfolio holdings, research from Carne Group has revealed
Posted: 21/5/25
'Premature' de-risking of defined benefit (DB) pension schemes may be depriving the UK economy of over 20 years of productive investment, research from New Capital Consensus (NCC) has suggested
Posted: 21/5/25
The upcoming increase in employer National Insurance contributions (NIC) has sparked a surge of interest in salary sacrifice, with analysis from Penfold revealing that interest in switching to its salary sacrifice pension solution jumped by 800 per cent year-on-year
Posted: 21/5/25
The UK pensions and insurance sector could meet up to 50 per cent of the investment needed to deliver on the UK's net-zero commitments, but only if the current policy, regulatory and market barriers are overcome, Phoenix Group has said
Posted: 20/5/25
The Pensions Age Autumn Conference, taking place in London on Tuesday 16 September 2025, is now open for registration
Posted: 20/5/25
Nest has committed approximately £450m (€530m) to seed an infrastructure debt fund with strategic partner IFM Investors, targeting investment opportunities in the European market
Posted: 20/05/25
Association of British Insurers (ABI) long-term savings policy adviser, Emily-Mae Collins, discusses the recent progress towards the launch of the MoneyHelper dashboard and the "critical" work still needed on private sector dashboards
Posted: 20/5/25
The combined aggregate IAS19 surplus for UK FTSE 100 defined benefit (DB) pension schemes was £40bn as of year-end 2024, LCP's annual analysis has revealed, marking the fifth year in a row showing an overall surplus
Posted: 20/05/2025
The Impact Investing Principles for Pensions have been updated to help UK pension fund trustees better align their investment decisions with long-term impact goals and fiduciary duties
Posted: 19/05/25
The number of people who fully withdrew pension pots of £250,000 or more was 292 between October 2023 and March 2024, an increase of 70 people compared to the same period a year earlier, according to analysis by Standard Life
Posted: 19/05/25
The Pensions Regulator (TPR) has launched an innovation support service to reduce “unnecessary” regulatory barriers to pension innovation by enabling early, transparent discussions with pensions innovators.
The regulator has two focus areas, administration and member experience, particularly in the decumulation phase, as well as investment and new scheme models
The regulator has two focus areas, administration and member experience, particularly in the decumulation phase, as well as investment and new scheme models
Posted: 19/05/25
Mid to large-sized employers – those with 500 to 50,000 employees – should be re-enrolling employees into their workplace pension schemes in 2025 as part of their mandatory three-year requirement, Hymans Robertson has urged
Posted: 19/05/2025
The majority of employers (82 per cent) have not switched or considered switching pension providers, according to the Department for Work and Pensions (DWP) 2024 employer survey
Posted: 19/05/2025
Pension savers are calling on McDonald’s to prove that its climate strategy can meet its 2030 and 2050 emissions reduction targets, according to research from PensionBee
Posted: 19/05/25
Pension Wise could benefit from a shift from optional nudges to auto-enrolled appointments, Just Group has suggested, warning that low take-up of guidance risks storing future problems for retirees facing complex financial decisions without support
Posted: 19/05/25
The size of a scheme is the "key factor" for defined benefit (DB) pension schemes choosing an endgame, according to Aon's 2025 endgame survey
Posted: 19/05/2025
Professional trustee appointments have grown by 8 per cent over the past year to reach 2,711, according to WTW research, representing a slowdown from the 11 per cent growth recorded the previous year
Posted: 19/05/25
Several UK pension providers have backed the launch of the Emerging Markets and Developing Economies (EMDE) Investor Taskforce, an industry-led initiative looking to unlock private investment to help tackle climate change
Posted: 16/5/25
Despite defined benefit (DB) pension schemes' resilience and overall good health, scheme trustees may still be reluctant to release any surplus, Insight Investment head of solution design, Jos Vermeulen, has said
Posted: 16/5/25
A third (33 per cent) of adults with defined contribution (DC) pensions have less than £10,000 saved for retirement, while nearly a fifth (19 per cent) of non-retirees have no private pension at all, research from the Financial Conduct Authority (FCA) has revealed
Posted: 16/5/25
Mandating how large pension schemes invest to support UK growth could risk undermining the benefits these schemes already deliver to the UK economy, WPI Economics has suggested
Posted: 16/05/25
The latest news in brief and mandates from the past seven days
Posted: 16/05/2025
Pensions Age looks back on the key developments in the industry this week, including the Mansion House Accord and concerns around possible mandation, further pensions dashboard progress, and calls for a retirement 'sat-nav'
Posted: 16/05/25
The government and regulators have faced further calls to introduce a 10-day pension switch guarantee, after research from PensionBee revealed a "stark picture" of the transfer delays facing consumers
Posted: 16/5/25
Sixteen out of 20 pensions dashboards volunteer participants (VPs) are still to complete their connection journey, the Pensions Dashboards Programme (PDP) has confirmed, with a number of VPs waiting for a slot to become available so they can move forward with their testing
Posted: 15/05/2025
Concerns around pensions adequacy have continued as the industry awaits the second phase of the government's pension review, although Pensions Minister, Torsten Bell, has again hit back at claims that the second phase has been delayed
Posted: 15/5/25
Several UK-listed companies' financial updates have shown a continued trend towards defined benefit (DB) pension de-risking strategies
Posted: 15/05/25
The government has launched a consultation on a range of proposals relating to the Local Government Pension Scheme (LGPS) in England and Wales, covering issues such as the gender pensions gap, forfeiture concerns, and opt-out rates.
The Ministry of Housing, Communities and Local Government explained that much of the consultation focuses on equal access to the scheme and its benefits, as the government looks to improve fairness and address "key issues that have been neglected for too long"
The Ministry of Housing, Communities and Local Government explained that much of the consultation focuses on equal access to the scheme and its benefits, as the government looks to improve fairness and address "key issues that have been neglected for too long"
Posted: 15/5/25
Nearly a quarter (24 per cent) of UK defined benefit (DB) pension schemes are actively considering a reduction in their US asset holdings, research from WTW has revealed
Posted: 15/5/25
Low member engagement is the biggest hurdle to implementing an effective default retirement solution, a poll from XPS Group has suggested, with 37 per cent of participants citing this as the primary challenge
Posted: 15/05/2025
Industry experts have expressed concerns that a focus on cost in the pension sector could undermine long-term value for members
Posted: 14/05/25
The Pensions Regulator (TPR) has called for the introduction of a retirement 'sat-nav', after industry research revealed that the majority (70 per cent) of savers fully withdraw their defined contribution (DC) pension savings without professional advice or tailored guidance
Posted: 14/2/25
Many pension scheme trustees and sponsors could be underestimating the scale of the challenge and the level of preparation required ahead of pensions dashboards, Isio partner and head of administration, Girish Menezes, has warned
Posted: 14/5/25
Initial findings from Trafalgar House's fifth Trust & Confidence Index of the pensions industry have revealed a decline in public trust for the first time since the surveys began
Posted: 14/05/2025
The most common underpin type in risk transfer and consolidation is defined contribution (DC) with a defined benefit (DB) underpin, research from the Society of Pension Professionals (SPP) has suggested
Posted: 14/05/25
A 'fragmented and inconsistent' guidance and advice landscape for defined contribution (DC) savers in retirement leaves them uncertain about their options, risking uninformed decisions and poor outcomes, a report from the Pensions Policy Institute (PPI) has suggested
Posted: 14/05/2025
The trustees of the Andrew Limited Pension and Life Assurance Plan have secured a £63m bulk annuity policy with Aviva, securing the pensions of all 570 scheme members
Posted: 14/5/25
Concerns over the potential for a legal underpin for the Mansion House Accord have continued, with Pensions Minister, Torsten Bell, refusing to be drawn into speculation over whether mandation could be considered if the signatories do not meet their commitments.
Industry experts have also emphasised the need for the government to ensure a strong pipeline of investable assets, although Bell expressed confidence in this area, noting the growing interest in UK investment from Canadian and Australian pension funds
Industry experts have also emphasised the need for the government to ensure a strong pipeline of investable assets, although Bell expressed confidence in this area, noting the growing interest in UK investment from Canadian and Australian pension funds
Posted: 13/5/25
Working for longer could help maintain cognitive functioning and prevent the onset of physical disability among women in their early 60s, research from the Institute for Fiscal Studies (IFS) has revealed
Posted: 13/05/2025
More than half (52 per cent) of savers agree that pension funds should invest more in the UK while only 8 per cent disagree, research from Natwest Cushon has revealed
Posted: 13/5/25
Support for the 2015 freedom and choice reforms remains strong despite older pension savers having some reservations, industry experts have said, after research from Aviva revealed that many savers are not confident pension savings will last
Posted: 13/05/2025
The aggregate surplus of defined benefit (DB) pension schemes fell £13bn to £202.5bn as at the end of April 2025, the Pension Protection Fund’s (PPF) 7800 Index has revealed
Posted: 13/5/25
Industry experts have welcomed the launch of the Mansion House Accord, suggesting that "the threat of compulsion has been heeded, with providers stepping up", although challenges remain in some key areas
Posted: 13/5/25
Seventeen of the largest UK workplace pension providers have expressed their intent to invest at least 10 per cent of their defined contribution (DC) default funds in private markets by 2030, with 5 per cent of the total allocated to the UK.
Building on the Mansion House Compact, the new voluntary initiative, the Mansion House Accord, is expected to unlock up to £50bn of investment for UK businesses and major infrastructure projects
Building on the Mansion House Compact, the new voluntary initiative, the Mansion House Accord, is expected to unlock up to £50bn of investment for UK businesses and major infrastructure projects
Posted: 13/5/25
The Department for Work and Pensions (DWP) is facing renewed scrutiny over pensions dashboards progress, with the Work and Pensions Committee (WPC) writing to the Pensions Minister, Torsten Bell, to highlight a number of industry concerns and queries.
WPC chair, Debbie Abrahams, raised queries around how many providers and schemes have applied to defer connection beyond the October 2026 deadline, also highlighting concerns around over-regulation and private-sector dashboards
WPC chair, Debbie Abrahams, raised queries around how many providers and schemes have applied to defer connection beyond the October 2026 deadline, also highlighting concerns around over-regulation and private-sector dashboards
Posted: 12/5/25
The upcoming Pensions Schemes Bill, expected to be released by the government before summer recess this year, is set to be "crammed to bursting with measures,” according to LCP partner and head of pensions research, David Everett
Posted: 12/05/2025
Less than half (48 per cent) of mid-retirees (aged 65-75) are confident they are on track to make their private pension savings last for life, a report from Aviva has revealed, prompting calls for the introduction of a 'mid-retirement MOT'
Posted: 12/05/2025
One in five (21 per cent) UK adults don’t know when they will retire, research by Hargreaves Lansdown has shown, indicating a lack of financial planning and awareness regarding retirement
Posted: 12/05/25
The AQA Pension Scheme has completed a £120m full scheme buy-in with Rothesay, covering the benefits of all 869 scheme members, including 471 pensioners and dependants as well as 398 deferred members
Posted: 12/5/25
The majority (83 per cent) of British adults underestimate how much annual income is recommended for a single pensioner living a moderate lifestyle by at least £10,000, research from Lightyear has revealed
Posted: 09/05/25
The Wales Pension Partnership (WPP) has launched a new investment company pooling the assets of 22 Local Authorities' Schemes, in a move that is expected to help deliver growth and jobs across Wales
Posted: 9/5/25
The Bank of England’s (BoE) reduction of the base rate from 4.5 per cent to 4.25 per cent is expected to be "welcomed" by most pension schemes due to strong funding positions
Posted: 09/05/25
EQ Retirement Solutions (EQRS) has launched a new member communications and engagement service, designed to enhance the firm's existing solutions for public and private sector schemes, and long-term savings and retirement providers
Posted: 9/5/25
The latest news in brief and mandates from the past seven days
Posted: 9/5/25
Pensions Age looks back on the key developments in the industry this week, including updates on multi-employer collective defined contribution (CDC) pension schemes, pensions dashboard progress, and calls on the government to address industry concerns
Posted: 09/05/25
The average pension pot of £253,701 would only last 11 years against the average desired annual retirement income of £30,050, research from Retirement Review has revealed, highlighting a gap between savings reality and income expectations
Posted: 08/05/25
The number of pension providers and schemes that have completed their connection to the pensions dashboards ecosystem has continued to grow, with a growing number of providers confirming their connection to the pensions dashboards ecosystem
Posted: Last updated - 20/6/25
The 2025 valuation for the Local Government Pension Scheme (LGPS) is expected to provide a “unique opportunity" to reset contribution levels, Isio has said, after its latest update revealed that the LGPS remains in a “surprisingly strong position"
Posted: 8/5/25
Defined benefit (DB) funding levels have remained “robust” despite the significant volatility in global financial markets caused by US President Donald Trump’s Liberation Day tariffs, Broadstone's Sirius Index has revealed
Posted: 08/05/25
The Cancer Research UK Pension Scheme has agreed a £280m buy-in with Standard Life, covering the benefits of 2,800 members
Posted: 08/05/2025
TPT Retirement Solutions has announced plans to launch its own collective defined contribution (CDC) scheme, making it the first provider to publicly declare its intention to enter the multi-employer CDC pensions market
Posted: 8/5/25
Workers taking extended unpaid leave could face a financial fallout far beyond their personal budgets, equating to a collective £230.69bn shortfall in pension pots nationwide if two years of unpaid leave is taken, Barnett Waddingham has found
Posted: 07/05/25
Brunel Pension Partnership has confirmed that it is working with its partner funds to explore options for the next stage of its future, after the government rejected the pool's proposed business case and invited the funds to pursue mergers
Posted: 7/5/25
The Pensions Regulator (TPR) has published updated guidance to help pension schemes make third-party applications, including those to appoint an independent trustee (IT)
Posted: 07/05/2025
Defined contribution (DC) pension savers could see their potential retirement income fall by up to 20 per cent as a result of market volatility seen following the introduction of US tariffs, although those in defined benefit (DB) schemes are unlikely to be affected, research from the Society of Pension Professionals has revealed
Posted: 7/5/25
While defined contribution (DC) savers saw strong income growth between 2019 and 2025, the oldest cohort is projected to fare the worst in retirement, Aon’s UK DC pension tracker has revealed
Posted: 07/05/25
Retirement outlooks have continued to worsen in recent years due to rising living costs, with research from Scottish Widows revealing that 39 per cent of people (around 15.3 million) in the UK, aren't on track for a minimum lifestyle in retirement, up from 35 per cent in 2023
Posted: 7/5/25
Intellica has acquired Cosan Consulting for an undisclosed amount
Posted: 7/5/25
Higher earning households could be under-saving for retirement, research from Hargreaves Lansdown has found, raising concerns that some could be on track for a "nasty shock" about their standard of living in retirement
Posted: 06/05/25
Nearly one sixth (15 per cent) of UK adults do not know who will receive their pension savings if they pass away before taking them, rising to a "worrying" 18 per cent amongst those aged 79 and over, research from Aviva has revealed
Posted: 6/5/25
The government should "embrace bold pension reforms", Baroness Ros Altmann has said, suggesting that the government should require at least 25 per cent of new pension contributions to be invested in Britain as a "quid pro quo" for tax reliefs
Posted: 6/5/25
A pragmatic new regime is needed for defined benefit (DB) surplus release, Association of Consulting Actuaries (ACA) chair, Stewart Hastie, has said, arguing that a new regulator code needs to follow "sooner rather than later" in order to drive behavioural change
Posted: 6/5/25
There are “major” differences in retirement spending patterns between homeowner and renter pensioners, research from LCP and the University of Bath has found, highlighting the need for more tailored post-retirement income strategies
Posted: 06/05/25
Defined benefit (DB) pension schemes are pulling ahead of scheme sponsors when it comes to making progress on environmental, social and governance (ESG) considerations, research from LawDeb has revealed
Posted: 6/5/25
Mercer has completed the acquisition of Secor Asset Management for an undisclosed amount
Posted: 6/5/25
The UK’s defined benefit (DB) risk transfer market is witnessing a “fundamental transformation” with insurer supply now exceeding demand for the first time in several years, Hymans Robertson has suggested
Posted: 02/05/25
Pensions Age looks back on the key developments from the pensions industry this week, including pension dashboard progress,recent market volatility, and updates from the Department for Work and Pensions (DWP) and The Pensions Regulator (TPR)
Posted: 02/05/25
The Financial Conduct Authority (FCA) has launched a consultation on how its live artificial intelligence (AI) testing service can help firms deploy “safe and responsible” AI that benefits markets and consumers
Posted: 2/5/25
The latest news in brief and mandates from the past seven days
Posted: 2/5/25
The number of pension providers that have completed their connection to the pensions dashboards ecosystem has continued to grow, with Standard Life and AJ Bell the latest to confirm that that they have completed connection
Posted: 2/5/25
European pension schemes holding US assets face an "unprecedented challenge", Isio chief investment officer, Barry Jones has warned, with many schemes now rethinking their foreign exchange (FX) trading following the introduction of US President Donald Trump's tariffs
Posted: 2/5/25
Pensions Management Institute (PMI) chief strategy officer, Helen Forrest Hall, discusses the importance of getting the sequencing of the upcoming pension reforms right
Posted: 1/5/25
Almost half (47 per cent) of carers between the ages of 60 and 65 have no private pension savings, analysis by Phoenix Insights has revealed
Posted: 01/05/2025
The Work and Pensions Committee (WPC) has announced plans to question pension industry leaders and finance think tanks on pension funds’ UK investments and how to boost them
Posted: 1/5/25
Govt to consider PPF compensation changes; consultation on governance to be launched later this year
The government has said that it will consider changes to the Pensions Protection Fund (PPF) compensation framework, including pre-1997 indexation, also announcing plans to consult on measures to improve scheme governance and trustee accreditation later this year
Posted: 1/5/25
Over six in 10 (63 per cent) institutional investors, including pension funds, are “quite concerned” that companies are making false claims about the extent to which they use artificial intelligence (AI) and its positive impact on operations, Robocap research has revealed
Posted: 1/05/25
HM Treasury has updated the Treasury Directions for the Public Service Pensions and Judicial Offices Act 2022 regarding the McCloud remedy
Posted: 30/04/2025
Future Growth Capital (FGC) has launched two diversified private markets Long-Term Asset Funds (LTAFs), a global strategy and a complementary UK strategy
Posted: 30/4/25
Benefits Guru and STAR, two industry award schemes, have released their 2025 ratings for workplace pension providers, ranking them on financial wellness and transfer times, respectively
Posted: 30/04/2025
The OSG Ship Management (UK) Limited Retirement Benefits Plan has completed a £16m full scheme buy-in with Aviva, covering the defined benefit (DB) liabilities for 53 members from OSG
Posted: 30/4/25
A new campaign has been launched to encourage the government to "transform" the UK pensions system, with fronting from a number of celebrities, including Jason Isaacs, Stephen Fry and Aisling Bea
Posted: 30/4/25
Nearly nine million savers in the UK remain "significantly underpensioned" compared to the broader population, with research from Now Pensions revealing that private pension incomes for under-pensioned groups are around 43 per cent to 80 per cent of the population average
Posted: 30/4/25
Pensions Minister, Torsten Bell, has confirmed that the government is moving forward with its plans to extend collective defined contribution (CDC) to multi-employer schemes, with legislation set to be laid in parliament in the autumn
Posted: 30/4/25
Industry experts have broadly welcomed The Pensions Regulator's (TPR) defined benefit (DB) Annual Funding Statement, highlighting the clarifications around covenant and trustee's assessment of supportable risk as particularly helpful
Posted: 29/4/25
Financial Conduct Authority (FCA) head of asset management and pensions policy, Nike Trost, said that the benefit of the Value for Money (VfM) framework is transparency, which should enable decision-makers to think about if investment return is generated in the "right way"
Posted: 29/04/25
The Pensions Regulator (TPR) has said that it expects most defined benefit (DB) pension schemes to shift their focus from deficit recovery to endgame planning, after its latest Annual Funding Statement confirmed that the majority of DB schemes are now in surplus.
TPR’s 2025 AFS, which is the first under the new DB Funding Code, showed that just over half (54 per cent) of schemes are in surplus on a buyout basis, rising to 76 per cent on a low dependency basis and 85 per cent on a technical provision basis
TPR’s 2025 AFS, which is the first under the new DB Funding Code, showed that just over half (54 per cent) of schemes are in surplus on a buyout basis, rising to 76 per cent on a low dependency basis and 85 per cent on a technical provision basis
Posted: 29/4/25
Scottish Widows has announced plans to launch an open-architecture Long-Term Asset Fund (LTAF) later this year, pending regulatory approval
Posted: 29/04/2025
Nearly a third (31 per cent) of UK pension schemes believe 50 per cent or more of their members will log into the MoneyHelper Pensions Dashboard within a month of gaining access, WTW research has revealed
Posted: 29/04/25
The Gleaner Pension Scheme has completed a £7.5m full scheme buy-in with Aviva, securing the benefits of all 121 members, comprising 26 deferred and 95 pensioner members, and covering all the scheme liabilities
Posted: 29/04/2025
Standard Life has adopted 'sustainability improvers' labelling for more than two million pension members invested in its sustainable multi-asset, future advantage, and selected investment pathway funds
Posted: 28/04/2025
Renters face a “ticking pensions timebomb” as they head toward retirement with significantly less financial security than homeowners, a study from Barnett Waddingham has revealed
Posted: 28/04/2025
Origo Dashboard Connector (ODC) has announced that it has fully connected to the government’s pensions dashboards ecosystem ahead of the 30 April guidance date.
This means that ODC clients can now connect their pension schemes to the pensions dashboards ecosystem and respond to pension searches from consumers once dashboards go live
This means that ODC clients can now connect their pension schemes to the pensions dashboards ecosystem and respond to pension searches from consumers once dashboards go live
Posted: 28/4/25
The majority (82 per cent) of advice professionals believe that poor pension switching experiences are harming the reputation of the financial services industry, research from PensionBee has found, prompting renewed calls for a 10-day Pension Switch Guarantee
Posted: 28/4/25
Master trust members should be prepared for “higher levels of volatility” as funds continue to push higher overseas equity allocations in their growth phases, a report from LCP has warned
Posted: 28/04/2025
Defined benefit (DB) pension transfer activity spiked in March, despite transfer values hitting a new record low amid the recent market volatility, finishing the month at £142,000, XPS Group's Transfer Value Index has revealed
Posted: 28/4/25
The College of Law Pension and Assurance Scheme has agreed an £85m buy-in with Royal London, meaning that all scheme liabilities are now fully covered by insurance contracts
Posted: 28/4/25
Employers have been urged to take steps to support social mobility, after research from NextGen Pensions raised concerns about potential "diversity-washing"
Posted: 25/04/25
Pensions Age looks back on the key developments from the pensions industry this week, including updates from the DWP and the government, concerning findings on pensions literacy, and notable sustainability progress
Posted: 25/04/2025
The British Business Bank (BBB) has been working in consultation with pension funds on designing an investment vehicle to attract UK pension funds into venture capital and growth equity
Posted: 25/04/25
HMRC repaid more than £44m to people who overpaid tax when they flexibly accessed their pensions in Q1 2025, the latest government Pension Schemes Newsletter has revealed, pushing total repayments since 2015 past £1.4bn
Posted: 25/4/25
The latest news in brief and mandates from the past seven days
Posted: 25/4/25
The Pensions Regulator (TPR), interim director of policy and public affairs, Patrick Coyne, has announced that TPR will launch its planned innovation hub during the summer
Posted: 24/04/25
Sustainability issues are a key consideration for pension schemes selecting a bulk annuity provider, research from the Society of Pension Professionals (SPP) has suggested, as 88 per cent of those polled agreed that the Sustainability Principles Charter is likely to be a factor
Posted: 24/4/25
The pensions industry has welcomed the government’s confirmation that it is proceeding with plans to combine small pension pots in the upcoming Pension Schemes Bill, but warned of long timelines, implementation complexity, and unanswered questions
Posted: 24/04/2025
An “overwhelming” majority (90 per cent) of pension providers regulated by the Financial Conduct Authority (FCA) expect to connect to the pensions dashboards ecosystem in line with the staging guidance, research from the Pensions Dashboards Programme (PDP) has revealed
Posted: 24/4/25
The Department for Work and Pensions (DWP) had repaid £804.7m to individuals impacted by historical state pension underpayments as of 31 March 2025, having identified 130,948 underpayments
Posted: 24/4/25
The ELG Haniel Metals Limited Pension and Assurance Scheme has completed a £28m buy-in with Just Group, securing the benefits of 99 deferred members and 81 pensioners
Posted: 24/04/2025
The government has confirmed that it is pushing ahead with plans to combine small pension pots in the upcoming Pension Schemes Bill, in a move that is expected to boost retirement savings for the average worker by around £1000.
Under the reforms, each individual’s small pots will be brought together into one pension scheme that is certified as delivering good value to savers, although individuals will retain the right to opt out
Under the reforms, each individual’s small pots will be brought together into one pension scheme that is certified as delivering good value to savers, although individuals will retain the right to opt out
Posted: 24/4/25
The Pensions Regulator (TPR) has said that pension superfunds could be a positive for ensuring good outcomes for savers, particularly those in smaller schemes, despite a number of "friction points" seen in the superfund transactions completed so far
Posted: 23/4/25
The government has suggested that recent delays in formal civil servants receiving their occupational pensions as a result of the McCloud fallout have now been resolved, with the My Civil Service Pension (MyCSP) portal back at contractual performance levels
Posted: 23/4/25
"Exceptionally volatile" markets are expected to continue throughout 2025 and may cause a reversal of the performance of fiduciary managers (FMs) seen in 2024, XPS head of fiduciary management oversight, André Kerr, has suggested
Posted: 23/04/2025
The Babcock Group has agreed a long-term funding arrangement (LTFA) with the trustees of all three of its principal schemes, having paid an additional £40m deficit repair lump sum in 2024/25 as part of this
Posted: 23/4/25
Royal London Asset Management has announced its intention to adopt the Sustainability Focus label under the Sustainability Disclosure Requirements (SDR) regime for eight funds in its £11bn sustainable fund range
Posted: 23/04/25
The recent expansion of the Childcare Act could increase the retirement savings of parents by £1.2bn, with some parents potentially able to retire as much as a year earlier, research from The People's Pension has revealed
Posted: 23/4/25
Defined contribution (DC) pension scheme trustees must be aware of the risk of climate change to younger members and should not ignore intergenerational risks, HS Trustees has said
Posted: 23/4/25
The London Clinic Limited (1974) Retirement Fund has appointed First Actuarial to provide actuarial and administration services
Posted: 22/04/25
Whilst more than half (53 per cent) of Brits claim to be knowledgeable about pensions, the majority cannot identify the different types of pension scheme correctly, research from Aviva has revealed
Posted: 22/04/25
Defined benefit (DB) pension schemes are no longer acting as a "drain" on sponsoring employers, Broadstone has said, after its analysis found that deficit reduction contributions dropped to £932m in Q3 2024 as funding improvements eased financial pressures
Posted: 22/4/25
Focusing consistently on career advancement could have a "significant" impact on a person's pension outcomes, Standard Life has suggested, after its research found that varying career strategies could lead to differences of as much as £80,000 (38 per cent)
Posted: 22/04/25
Two fifths (40 per cent) of people over 60 haven’t nominated who they want to inherit their pension when they’re gone, despite a 26 per cent increase in the number of people updating their expression of wish between 2022 and 2024, Hargreaves Lansdown has revealed
Posted: 22/04/2025
Pensions Age looks back on the key developments from the pensions industry this week, including updates from regulators and the government, market trends impacting pension schemes, and notable company announcements
Posted: 17/04/25
Sainsbury's defined benefit (DB) pension surplus rose to £731m as at 1 March 2025, marking a £41m increase from the prior year-end date of 2 March 2024, its latest financial accounts have revealed
Posted: 17/4/25
The latest news in brief and mandates from the past seven days
Posted: 17/04/2025
The Pensions Age Spring Conference, taking place in London on Thursday 24 April 2025, is now just a week away, but there is still time to register
Posted: 17/4/25
The first pension provider, Legal & General, has finalised connection to the pensions dashboards ecosystem, in line with the Department for Work and Pensions' (DWP) staged timetable in guidance, the Pensions Dashboards Programme (PDP) has confirmed
Posted: 17/4/25
Half (50 per cent) of UK adults don't know how much they'll receive in their state pension, while nearly a third (32 per cent) are unaware of the age they'll receive it, analysis from Standard Life has revealed
Posted: 17/4/25
WH Smith Group has received a £75m cash refund on its pension surplus, following the buyout and wind up of the group's defined benefit (DB) pension scheme, WHSmith Pension Trust
Posted: 16/4/25
The Northern Ireland Local Government Officers’ Superannuation Committee (NILGOSC) pension fund should look at what can be done to protect against future risks, particularly in terms of how surpluses can be used, the Government Actuary's Department (GAD) has said
Posted: 16/4/25
The Pensions Ombudsman (TPO) has upheld a complaint against Peter Marson Optometrist for failing to pay contributions into a worker’s Nest pension due to maladministration
Posted: 16/04/25
Pensions Minister, Torsten Bell, has reiterated the government's commitment to uprate the state pension not only this year, but throughout the current parliament, with this expected to raise the state pension by up to £1,900 by the end of parliament
Posted: 16/4/25
UK savers are highly cautious when it comes to their retirement savings and want stability over high returns, PensionBee has said, after its research found that less than a tenth (8 per cent) of savers are willing to invest in high-risk assets
Posted: 16/4/25
Schroders, in collaboration with Cornell University's Global Labor Institute (GLI), has published new guidance for engaging with companies on climate resilience
Posted: 16/04/2025
Local Government Pension Scheme (LGPS) pools are awaiting further clarity on the future regulatory and operational requirements that will apply to them, after the majority of pools were given government approval on their proposals
Posted: 15/4/25
The Insolvency Service has placed bankruptcy restrictions against GP practice manager, Sonia Simkins, after its investigation found that she had failed to pay contributions into NHS pension scheme on behalf of her staff, despite deducting contributions
Posted: 15/04/25
The Westerby Group has acquired specialist pension provider and independent financial adviser (IFA) firm Redswan for an undisclosed amount
Posted: 15/4/25
Following recent regulatory and market developments, 2025 represents an important year for schemes reviewing their endgame strategy, Aon has suggested
Posted: 15/04/2025
The Pensions Ombudsman (TPO) has upheld a complaint against Core TV Solutions Limited for failing to pay contributions into a worker's pension despite deducting contributions from her pay
Posted: 15/04/25
Sole trustees have embraced The Pension Regulator's General Code, using it to innovate their in-house governance approaches and ensure they can be held to the highest account for governance, according to a survey by Hymans Robertson
Posted: 14/04/2025
The Financial Conduct Authority (FCA) has concluded its six-week policy sprint, which aimed to support new ways to help consumers make important investment decisions as part of the regulator's work on targeted support
Posted: 14/4/25
Physical risk as a result of rising temperatures is the most serious threat to asset performance, Ortec Finance has said, after its research showed that even most ambitious scenario does not anticipate the world reaching net zero until mid-2050
Posted: 14/4/25
Equiniti Retirement Solutions (EQ) has been reappointed as an eligible supplier on the National Local Government Pension Scheme (LGPS) framework for pension administration software for a further four years
Posted: 14/04/2025
Artificial intelligence (AI) is already reducing costs, improving efficiencies and revolutionising member communications, although risks must be managed to prevent saver detriment, the Pensions and Lifetime Savings Association (PLSA) has warned
Posted: 14/4/25
The Pension Protection Fund (PPF) has announced the appointment of several firms to its trustee services panel and restructuring and pre-insolvency services (RPIS) framework following the outcome of its recent procurement
Posted: 14/04/2025
Savers contributed, on average, £285 (19 per cent) more to their pensions in 2024 compared to 2023, according to analysis by PensionBee
Posted: 14/04/25
The South East Water Pension Scheme has completed a £120m buy-in with Just Group, securing the benefits of around 700 pensioner and dependent members and almost 300 deferred members
Posted: 14/4/25
Pensions Age looks back on the key developments from the pensions industry this week, including defined benefit (DB) funding updates, research on the use of artificial intelligence (AI) and environmental progress
Posted: 11/04/2025
The Pensions Regulator (TPR) has shared a series of short films highlighting the difference pensions dashboards could make to savers as part of its campaign to get the pensions industry dashboard ready
Posted: 11/4/25
The latest news in brief and mandates from the past seven days
Posted: 11/04/2025
Recent defined benefit (DB) pension funding improvements should not mask the fact that schemes are facing challenges, including uncertainties caused by recent market volatility and concerns over data ahead of the rollout of pension dashboards, PwC has said
Posted: 11/4/25
UK employers have been urged to ensure that staff who are in net-pay arrangement pension schemes are aware that they could be eligible for extra money from the government, amid concerns that most people will not claim their money
Posted: 11/4/25
Chancellor, Rachel Reeves, has confirmed the reappointment of Nikhil Rathi as Financial Conduct Authority (FCA) chief executive
Posted: 11/4/25
The Pensions Regulator (TPR) has said that small defined contribution (DC) schemes that do not take appropriate action to protect savers’ retirements from climate risk should think about quitting the market
Posted: 10/4/25
Legal and General Assurance Society Limited (L&G) has insured more than £800m of pension liabilities using L&G Flow, its tailored solution for smaller pension schemes
Posted: 10/04/2025
The government should consider a number of "urgent" pension reforms as part of its ongoing pension review, the UK Sustainable Investment and Finance Association (UKSIF) has said, arguing that "decisive" steps are needed to tackle current investment barriers
Posted: 10/4/25
The Pensions Regulator (TPR) has made two appointments to senior roles as it looks to "bolster" expertise in areas such as asset management and investment
Posted: 10/4/25
Compensation for a typical defined benefit (DB) pension transfer redress case continued to fall through Q1 2025, although these downward movements may be 'wiped out' by recent market volatility unless changes are seen, Broadstone's DB redress tracker has revealed
Posted: 10/04/2025
Charities have been urged to review their defined benefit (DB) pension arrangements and endgame planning, after analysis from Spence & Partners revealed that funding levels for DB schemes in the charity sector have reached an average of 100 per cent on an FRS102 basis
Posted: 10/04/2025
Celebrating excellence within the Irish pensions industry for another year, European Pensions' annual Irish Pensions Awards is now open to entries for Irish pension funds and providers, with an entry deadline of 11 July 2025
Posted: 10/4/25
The government has announced plans to amend primary legislation to separate pension fund accounts from administering authority (AA) main accounts, as part of its efforts to "fix the broken local audit system"
Posted:
Pension scheme trustees should "double down" on cyber security efforts to ensure the protection of data, assets, and members, RSM UK partner, Stuart Leach, has said
Posted: 09/04/2025
Scottish Friendly has announced plans to acquire the pension and annuity in payment books of business from Fidelity International, subject to regulatory approval
Posted: 09/04/2025
The Pensions Scams Action Group (PSAG) has upped its efforts to uncover fraudulent websites, using machine-learning technology and algorithms trained with real-world data to build predictive models that can detect scam websites
Posted: 9/4/25
The 10 largest professional trustee firms are now responsible for £1trn of pension scheme assets, Isio's 2025 professional independent trustee survey has revealed.
Isio's survey revealed that these 10 firms now manage over 2,400 pension schemes, representing almost half (43 per cent) of UK defined benefit (DB) pension schemes
Isio's survey revealed that these 10 firms now manage over 2,400 pension schemes, representing almost half (43 per cent) of UK defined benefit (DB) pension schemes
Posted: 09/04/2025
The wait is over, as the agenda for the Pensions Age Spring Conference, taking place in London on Thursday 24 April 2025, has now been confirmed
Posted: 9/4/25
Unparalleled levels of competition in the buy-in market coupled with upcoming government policy could "re-write the landscape" the defined benefit (DB) pension landscape and increase the number of investment opportunities for schemes, according to LCP
Posted: 09/04/2025
The shortlist for the 2025 European Pensions Awards has now been revealed ahead of the highly anticipated gala dinner on 3 July 2025
Posted: 8/4/25
The Pensions and Lifetime Savings Association (PLSA) has announced that it will focus its work programme on adequacy, pension fund consolidation, and various investment-related issues as it looks to help maximise saver outcomes
Posted: 08/04/2025
Over two-thirds (67 per cent) of employed UK adults with a workplace pension wish they had been taught about pensions earlier in life, research from My Pension Expert has revealed
Posted: 08/04/25
The government could "unlock" billions of pounds from UK pensions, Hymans Robertson has said, with its research showing that a package of pension reforms could provide a £28.5bn annual boost for the Treasury, while employers could benefit by up to £14.2bn a year
Posted: 8/4/25
The majority (88 per cent) of potential buyers prioritise saving for a house deposit over saving for a pension, a survey from Share to Buy has revealed
Posted: 08/04/2025
The London Pensions Fund Authority (LPFA) has pledged to invest around £250m, or 3 per cent, of its £8bn fund value in environmental solutions assets, to support its net-zero ambitions
Posted: 08/04/25
The Skipton Building Society Group Pension Scheme has completed a £105m full scheme buy-in with Rothesay in January 2025, securing the benefits of all 705 scheme members, including 396 pensioners and dependents and 309 deferred members
Posted: 08/04/2025
The aggregate surplus of defined benefit (DB) pension schemes fell £17.2bn to £215.5bn as at the end of March 2025, the Pension Protection Fund’s (PPF) 7800 Index has revealed
Posted: 8/4/25
Global insurance and employee benefits intermediary group Howden has completed its acquisition of Barnett Waddingham, creating one of the largest pensions and employee benefits firms in the UK
Posted: 7/4/25
Clara Pensions has announced plans to launch a new private markets investment vehicle, confirming that it expects to invest 30-35 per cent of Clara's assets into private markets as the superfund grows.
The Clara Private Markets Vehicle was created in conjunction with Van Lanschot Kempen Group, who will manage the fund, and is expected to be registered soon
The Clara Private Markets Vehicle was created in conjunction with Van Lanschot Kempen Group, who will manage the fund, and is expected to be registered soon
Posted: 7/4/25
More than four in 10 (42 per cent) individuals with a state pension age (SPA) between 66 and 67 know their SPA correctly within three months, research from the Institute for Fiscal Studies (IFS) revealed, suggesting "significant" knowledge gaps among those approaching retirement
Posted: 07/04/25
The voices of trustees, who control the majority of workplace pension money in the UK, are 'rarely heard' in the corridors of power, a report from LCP has warned
Posted: 07/04/2025
The government has launched a consultation on plans to amend the regulations applying to alternative investment funds in order to make it simpler and cheaper for most asset managers to do business in the UK
Posted: 7/4/25
Nearly half (45 per cent) of over-65s either don't full trust artificial intelligence (AI) or don't trust it at all to provide accurate financial guidance, research from PensionBee has revealed
Posted: 7/4/25
Pensions Minister, Torsten Bell, has urged the pensions industry to focus on delivering value and consistent returns for savers, suggesting that there is now "actually a pretty big consensus" on what is needed in the pensions space over the next ten years
Posted: 4/4/25
Many savers are still not accessing advice on pensions ten years after the government implemented the ‘freedom and choice’ reforms, which allowed people to access their pensions with greater flexibility, the Institute and Faculty of Actuaries (IFoA) has revealed
Posted: 04/04/2025
Pensions Age looks back on the key developments from the pensions industry this week, including several key updates from The Pensions Regulator (TPR), Financial Conduct Authority (FCA) and the Pension Protection Fund (PPF)
Posted: 04/04/25
The latest news in brief and mandates from the past seven days
Posted: 04/04/2025
Pension scheme trustees will need to navigate "significant" market volatility following US President Donald Trump's tariffs, Broadstone has said, after its analysis revealed that half and fully hedged defined benefit (DB) schemes experienced contrasting fortunes in March
Posted: 4/4/25
Pension investors should remain calm despite market turbulence caused by US President, Donald Trump's tariffs, Hargreaves Lansdown head of retirement analysis, Helen Morrissey, has said
Posted: 03/04/25
The Pensions Regulator (TPR) has urged small defined contribution (DC) schemes that are failing to compete with better-governed larger ones to consider winding up, after it revealed that a growing number of small schemes have been hit with fines for poor governance
Posted: 3/4/25
Aberdeen has announced that £3bn of pension scheme policies have transferred from Phoenix Life Limited to abrdn Life and Pensions Limited (abrdn Life)
Posted: 03/04/2025
Six in 10 (60 per cent) defined benefit (DB) pension members fear the government’s plans to allow employers to extract surplus cash from their schemes would create risks for them and other members, research from Pensions Insurance Corporation (PIC) has found
Posted: 03/04/25
Corporate sponsors could face "significant" costs if they don’t consider their risk appetite before engaging with insurers as they plan a buyout and wind up of their defined benefit (DB) pension scheme, Hymans Robertson has warned in its latest paper
Posted: 3/4/25
The government has been urged to consider supporting a new programme to increase opportunities for investing in venture and growth capital funds, in order to help encourage UK defined contribution (DC) pension schemes to invest in private capital
Posted: 3/4/25
The Pension Protection Fund (PPF) has said the “time is right” to review several key areas of its governing legislation, recognising that stakeholders want to see progress on the legislation governing its levy and the levels of indexation it pays
Posted: 03/04/25
Industry experts, including professional trustee firms and associations, have been quick to welcome the news that The Pensions Regulator (TPR) is planning to extend its oversight to include professional trustee firms
Posted: 2/4/25
The Pensions Regulator (TPR) has announced that it will extend its oversight to include professional trustee firms as part of its move to a more prudential style of regulation
Posted: 2/4/25
The ongoing review of the financial ombudsman service (FOS), along with broader attempts to lighten the regulatory load, offers a "significant" opportunity to rebalance the relationship between consumers and advisers in pension redress cases, First Actuarial has argued
Posted: 2/4/25
The market value of private sector defined benefit and hybrid (DBH) pension schemes fell by 1 per cent between 31 March and 30 September 2024, despite an increase in asset values, data from the Office for National Statistics (ONS) has revealed
Posted: 2/4/25
The Financial Conduct Authority (FCA) has granted approval for Aegon UK to launch the final two of its Long-Term Asset Funds (LTAFs), following the approval of the first fund last month
Posted: 2/4/25
The government has been urged to provide a greater safety net for defined benefit (DB) pension schemes through the Pension Protection Fund (PPF), in order to encourage investment and spur economic growth
Posted: 2/4/25
Over half (60 per cent) of UK adults are not confident they will have saved the £500,000 needed for a moderate retirement standard of living, research by St. James’s Place has suggested, indicating that many are "severely" underestimating how much they need to save
Posted: 2/04/25
The 'divorce gap' – when women see their household income cut after a divorce – can leave them financially worse off in retirement, according to research from Legal and General (L&G)
Posted: 2/4/25
The UK bulk purchase annuity (BPA) market 'surged' last year, following a record number of transactions, according to Aon's UK Risk Settlement market update
Posted: 01/04/2025
“Significant” improvements in defined benefit (DB) pension scheme funding levels have seen DB trustees prioritise managing illiquid assets, with 64 per cent considering a sponsor loan, Standard Life’s DB Trustee Insights Index has revealed
Posted: 1/04/25
The government has been encouraged to consider taking “urgent measures” to help savers avoid missed opportunities, after it announced a delay in the production of NHS pension remedial service statements
Posted: 1/4/25
Reforms are needed to make the pension system easier to navigate, the Institute for Fiscal Studies (IFS) has said, warning that the number of people making complex and consequential decisions about their pension wealth in retirement is rising "substantially"
Posted: 1/4/25
Whilst artificial intelligence (AI) is beginning to play an important role in pensions administration, its adoption by individual pension scheme members remains limited, according to the Trafalgar House Trust & Confidence Index
Posted: 01/04/2025
Less than two thirds (60 per cent) of professional investors feel they are either fully or almost fully financially prepared to help their clients in living for longer in retirement, research by Fidelity International has revealed
Posted: 1/04/25
The Pensions Regulator (TPR) has written to the government to outline the work it is doing to support the push for UK growth, including plans to "significantly" boost business confidence, improve the investment climate, and foster sustainable economic growth
Posted: 31/3/25
A local government pension scheme (LGPS) fund and the Parliamentary Contributory Pension Scheme have made a cornerstone investment in the Newcore Social Infrastructure Income Fund (NSIIF)
Posted: 31/03/2025
Financial Conduct Authority (FCA) chief executive, Nikhil Rathi, has said the idea that targeted support will not be optimised for every saver is a "necessary trade-off" to improve outcomes, confirming that the FCA is now running a policy sprint to test the plans
Posted: 31/3/25
The Englass Pension Scheme has agreed to a £12m full scheme buy-in with Just Group, insuring the benefits of all 100 scheme members
Posted: 31/03/25
Savers continued to face "unnecessary" delays when transferring their pensions, with some transfers taking over two months to complete, PensionBee analysis has revealed
Posted: 31/01/2025
Lloyds Banking Group Pensions Trustees Limited has entered into two longevity insurance and reinsurance arrangements, covering a combined £5.1bn of liabilities
Posted: 31/3/25
The government has been urged to launch the second phase of its pension review "sooner rather than later", amid concerns that, despite the success of auto-enrolment (AE), many are still not saving enough, with some groups at risk of being "left behind" completely
Posted: 28/3/25
Pensions Age looks back on the key developments from the pensions industry this week, including the lack of pension news in the Spring Statement and the latest debates from industry events
Posted: 28/3/25
The latest news in brief and mandates from the past seven days
Posted: 28/03/2025
The pension industry shouldn’t wait for regulations to be in place before adopting artificial intelligence (AI), Co-Labs Global strategic adviser, Annabel Gillard, has suggested
Posted: 28/03/25
Pension professionals have said that the second phase of the pensions review is a “once in a generation opportunity” for the industry to have its voice heard by the UK government
Posted: 28/03/25
The Clark & Butcher Limited Pension Scheme has agreed a £2m full scheme buy-in with Just Group, securing the benefits of 15 pensioners and 8 deferred members
Posted: 28/3/25
Pensioners' average weekly income after housing costs (AHC) fell from £410 in 2022/23 to £407 in 2023/24, analysis from HMRC has revealed, marking the lowest level seen since before the pandemic
Posted: 27/3/25
The Pensions Regulator (TPR) director of data services, Lisa Allen, discusses the need for every trustee to view data quality as a priority ahead of the upcoming pensions dashboards connection deadlines
Posted: 27/3/25
Three quarters of schemes have adopted net-zero targets, with more schemes than ever taking action to address climate risks, XPS analysis has revealed
Posted: 27/03/2025
Competition in the bulk purchase annuity (BPA) market reached a new high in 2024, with six insurers writing over £5bn in deals for the first time, analysis from LCP has revealed
Posted: 27/3/25
Scottish Widows has announced the launch of a Lifetime Investment default fund as part of its pension investment approaches (PIA)
Posted: 27/03/2025
Origo Dashboard Connector is the latest pensions dashboards participant to successfully complete the programme's integration testing, marking a "significant milestone" on the provider's journey to connect to the government's architecture
Posted: 27/3/25
Chancellor, Rachel Reeves, has delivered her Spring Statement, with no significant changes announced in relation to pension policy or pension tax reliefs
Posted: 26/3/25
The Pensions Regulator (TPR) has shared its diversity pay gap report, which showed that whilst the mean and median gender pay gaps are below 10 per cent, work is still needed for the regulator to reach its "ambitious" gender pay gap target of 2 per cent
Posted: 26/3/25
The Pensions Ombudsman (TPO) has upheld a complaint against the Ministry of Justice (MoJ) for providing inaccurate fee-paid judicial pension scheme (FPJPS) records and "significantly" delaying their correction
Posted: 26/03/2025
The fall in inflation seen in February could be “good news” for reducing pension schemes' liability values, XPS Group has said
Posted: 26/03/25
The majority (87 per cent) of defined contribution (DC) pension savers are in schemes that invest in at least one productive asset class, research from The Pensions Regulator (TPR) has revealed
Posted: 26/3/25
The Financial Conduct Authority (FCA) has launched its five-year strategy, with a specific focus on improving consumer protection and enhancing financial support for savers
Posted: 25/03/25
The introduction of pensions dashboards will present a "great opportunity" for fraudsters, Target Professional Services director, Lisa Lyon, has warned
Posted: 25/03/2025
The majority (55 per cent) of pension administrators believe a new value for money (VfM) framework would require a "large effort for no/little improvement for employers and members," according to a poll from the Pensions Administration Standards Association (PASA) conference
Posted: 25/03/2025
Policy uncertainty and regulatory hurdles are preventing UK pension funds from investing more into UK productive assets, the Local Government Pension Scheme (LGPS) pool Border to Coast Pensions Partnership has warned
Posted: 25/03/25
The Pensions Regulator (TPR) interim director of supervision, David Walmsley, has urged pension schemes to "embrace" innovation and the data revolution
Posted: 25/03/2025
Global insurance and employee benefits intermediary group Howden has announced plans to acquire Barnett Waddingham for an undisclosed amount
Posted: 25/3/25
Defined benefit (DB) pension schemes that enable members to view their illustrative transfer value on a scheme website have consistently higher transfer take-up rates, analysis from LCP has revealed
Posted: 25/3/25
The Department for Work and Pensions (DWP) has said that it is expecting to resolve all remaining state pension underpayment cases by the end of March 2027, with further updates to be shared as part of the government’s ‘Spring Forecast’ later this week (26 March)
Posted: 24/3/25
Around one in eight (12 per cent) people intending to purchase an annuity would not consider switching from their existing pension provider to another supplier, even if they could potentially gain additional retirement income, research from Canada Life has revealed
Posted: 24/3/25
Nearly three quarters (71 per cent) financial advisers are concerned about pensions being brought into scope of inheritance tax (IHT) from 2027, research from Quilter has found
Posted: 24/3/25
Less than two fifths (39 per cent) of UK adults aged 50 and over took advice from a financial adviser before taking money out of their pension, research from Royal London has revealed
Posted: 24/3/25
Many pension providers are still relying on outdated technology, with nearly half (41 per cent) still posting out letters, despite UK workplace pension savers wanting better digital tools to connect with their pensions, research from Bravura has revealed
Posted: 24/3/25
Defined benefit (DB) pension transfer activity fell to a record low in February 2025, according to XPS Group's Transfer Activity Index, which the group highlighted as evidence of increasing member caution over retirement arrangements
Posted: 24/3/25
A total of 299 defined benefit (DB) pension scheme buy-ins were completed in 2024, marking the largest ever number of transactions completed in a single year, analysis from Hymans Robertson has confirmed
Posted: 21/3/25
Teachers prioritise immediate salary increases over retirement benefits, with some willing to miss out on as much as 20 per cent of their retirement income in favour of a 10 per cent salary boost, research from the Education Policy Institute (EPI) has found
Posted: 21/3/25
The trustees of the Aga Rangemaster Group Pension Scheme have awarded Schroders Solutions a £740m fiduciary management mandate, following an open and competitive tender process
Posted: 21/03/2025
The latest news in brief and mandates from the past seven days
Posted: 21/3/25
Fragmentation in stewardship approaches and misalignment between asset owners and managers is creating inconsistencies in engagement and voting strategies, a report from Pensions for Purpose has suggested
Posted: 21/3/25
More than two-thirds (69 per cent) of employers in the UK now offer a responsibly invested company pension, but less than half (44 per cent) have it as their default option, research from Scottish Widows has revealed
Posted: 21/03/2025
Pensions Age takes a look back at the top stories of the week, including updates from The Pensions Ombudsman (TPO), developments in the defined benefit pension landscape, and more
Posted: 21/03/2025
A changing DC market
In our latest Pensions Age video interview, Aon DC senior partner and head of DC consulting, Ben Roe, speaks to Laura Blows about the latest changes and challenges within the DC sector
Being retirement ready
Gavin Lewis, Head of UK and Ireland Institutional at BlackRock, talks to Francesca Fabrizi about the BlackRock 2024 UK Read on Retirement report, 'Ready or not. How are we feeling about retirement?’
Podcast: A look at asset-backed securities
Royal London Asset Management head of ABS, Jeremy Deacon, chats about asset-backed securities (ABS) in our latest Pensions Age podcast
The role of CDC
In the latest Pensions Age podcast, Laura Blows speaks to TPT Retirement Solutions Chief Client Strategy Officer, Andy O’Regan, about the role of collective DC (CDC) within the UK pensions space
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