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Pensions UK urges policymakers to avoid ‘structural upheaval’ of LGPS


By Callum Conway

Policymakers should build on the existing strengths of the Local Government Pension Scheme (LGPS) rather than pursue a fundamental redesign of the scheme, Pensions UK has argued, amid ongoing debate over the future role of its assets.

In its new report, LGPS: Supporting local workers, delivering local growth, Pensions UK said the policy priority should be the effective implementation of current reforms, alongside strengthening the pipeline of investable UK opportunities, improving public-private partnerships and removing barriers to long-term pension investment


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iPipeline completes acquisition of Origo

Financial services technology firm iPipeline has completed the acquisition of Origo for an undisclosed amount

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Wood Pension Plan completes £1.65bn buy-in with L&G

Wood Pension Plan has completed a £1.65bn buy-in with Legal and General Assurance Society (L&G), securing the benefits of all 16,400 members

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Record 74% of DB schemes fully funded as majority target run-on

The proportion of defined benefit (DB) schemes that are fully funded has reached its highest level since the funding regime began in 2005, with the majority having set a long-term objective to run on, according to Aon

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Schemes urged to monitor dashboards' impact on transfers, scams and member behaviour

The Pensions Administration Standards Association (PASA) has published new guidance to help schemes and administrators track how member behaviour changes following the introduction of pensions dashboards, including their impact on transfers, retirement activity, enquiries and potential scams

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CDC could 'change the nature' of trustee decision-making

Collective defined contribution (CDC) arrangements could change the nature of trustee decision-making, and trustees should give as much attention to governance as scheme design, Zedra has warned

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Over a million pensioners paying higher rates of income tax

The number of pensioners paying income tax at 40 per cent or above has doubled over the past five years to more than one million, a freedom of information (FOI) request from LCP has revealed

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HMRC sets out pension/IHT information-sharing and payment processes

HMRC has published further details on how pension schemes, personal representatives and beneficiaries will be expected to manage inheritance tax (IHT) on pension death benefits from 6 April 2027, including new information-sharing, withholding and direct-payment requirements
Industry warns against 'overly burdensome' DB surplus rules as trustees prepare for widespread use

The government has been urged to simplify its proposed defined benefit (DB) surplus framework and preserve trustee discretion, amid warnings that overly burdensome rules could limit schemes’ ability to make use of the new flexibilities from April 2027
SPP backs stronger SIPP protections; warns against disproportionate burdens

The Society of Pension Professionals (SPP) has backed the Financial Conduct Authority’s (FCA) plans to strengthen consumer protection in the self-invested personal pension (SIPP) market, but warned that the final regime must remain proportionate, risk-based and practical
Guest comment: Why pension adequacy demands a new approach

Pensions Management Institute chief strategy officer, Helen Forrest Hall, discusses the importance of pension adequacy and the work being done to make it achievable

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News in brief - 28 August 2026

The latest news in brief and mandates from the past seven days
TPR surplus guidance must avoid 'undermining' DB investment ambitions

The Pensions Regulator’s (TPR) upcoming guidance on defined benefit (DB) surplus release must avoid creating expectations that surplus should be distributed in a particular way, or risk undermining government ambitions to encourage well-funded schemes to run on and invest for growth, the Association of Consulting Actuaries (ACA) has warned


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In the latest Pensions Age podcast, Francesca Fabrizi speaks to Capita Pension Solutions global practice leader & chief revenue officer, Stuart Heatley, about who matters most in pensions and how to best meet their needs

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