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DB funding improvements ease financial burden for sponsoring employers


By Sophie Smith

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.

The firm noted that whilst this marked a small increase compared to the £828m paid out in Q2 2024, it is still "substantially" lower than the historical average, with deficit reduction contributions rising to as high as £6.2bn during the height of the pandemic in Q4 2020


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'Critical' knowledge gap on pensions persists

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

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Focus on career progression could have 'significant' impact on pension outcomes

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)

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Two fifths of over-60s haven’t named a pension beneficiary

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

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London Clinic pension fund appoints First Actuarial for actuarial and administration services

The London Clinic Limited (1974) Retirement Fund has appointed First Actuarial to provide actuarial and administration services

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Pensions dashboards one step closer to reality as first provider completes connection

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

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Half of UK adults 'in the dark' about state pension entitlement

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

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Countdown to the Pensions Age Spring Conference begins

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
Sainsbury's DB surplus rises to £731m following fall in liabilities

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
News in brief - 17 April 2025

The latest news in brief and mandates from the past seven days
This week in pensions: 14-17 April 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

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UK pension savers choose stability over high returns

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
Bell reiterates govt commitment to state pension triple lock for full parliament term

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


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Highlighted Content

Podcast: The role of CDC

In the latest Pensions Age podcast, Laura Blows speaks to TPT Retirement Solutions chief client strategy offi cer, Andy O’Regan, about the role of collective DC (CDC) within the UK pensions space

DEI focus:

Incorporating diversity, equity and inclusion within trustee boards

New tools for PRT

Kelvin Wilson looks at AI and technology impacting the pensions risk transfer (PRT) market

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Supersizing the pensions sector

As the drive towards DC consolidation ramps up, Laura Blows examines the consequences of the trend towards generating ‘larger, but fewer’ pension schemes on the industry

BPAs: Attention turns to small DB schemes

With insurers increasingly taking a shine to smaller schemes, what does this mean for the bulk purchase annuity (BPA) market?

Sink or swim: The rising tide of cyber threats

Callum Conway looks at why pension fund trustees and members are facing an increasing wave of cyber threats – and what they can do to stay protected

Striking the right balance

Paige Perrin examines the delicate balancing act faced by pension scheme trustees as they navigate the growing demands of environmental, social, and governance (ESG) considerations, alongside their fiduciary duty to act in the best interests of scheme members

Venturing on new investments

Is the time right for UK pension funds to consider venture capital investment?

Closing the DEI gap

As part of Pensions Age’s year-long special focus on diversity, equity and inclusion (DEI), Pensions for Purpose research manager, Bruna Bauer, discusses how those managing pension funds can harness their investment power to improve DEI, both within their own

organisations and those they invest in

Landmark legal cases

Pensions Age looks at some of the most important legal cases over the past year, and what effect these rulings may have for the pensions sector

Recipe for BPA success

Compass Group Pension Plan chair of the trustee board and Capital Cranfield professional trustee, Philip Whittome; and Standard Life, part of Phoenix Group, director of defined

benefit solutions, Kieran Mistry, reveal the key ingredients needed to successfully tackle a complex BPA transaction

The greener choice?

With artificial intelligence (AI) playing a growing role in pension provision, Sophie Smith

takes a closer look at the environmental, social and governance risks surrounding the use of

AI, and whether short-term gains are being prioritised over long-term goals

Paving the way to better investment

Francesca Fabrizi sits down with The Investment Association senior policy adviser, pensions and institutional market, Imran Razvi, to find out how the association is improving pension funds’ access to private markets and more

Looking out for tremors

How are DB schemes preparing for tomorrow’s market shocks? Alex Janiaud finds out

Paying the price

In our latest contribution to Pensions Age’s year-long diversity, equity and inclusion (DEI) focus, Paige Perrin explores how career breaks continue to impact women’s long-term financial security in retirement

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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?’

Time for CDI
Laura Blows speaks to AXA Investment Managers (AXA IM) senior portfolio manager for fixed income, Rob Price, about cashflow-driven investing (CDI) in Pensions Age’s latest video interview

The role of CDC
In the latest Pensions Age podcast, Laura Blows speaks to TPT Retirement Solutions Chief Client Strategy Officer, Andy O’Regan, about the role of collective DC (CDC) within the UK pensions space
Keeping on track
In the latest Pensions Age podcast, Sophie Smith talks to Pensions Dashboards Programme (PDP) principal, Chris Curry, about the latest pensions dashboards developments, and the work still needed to stay on track

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