Pension trustees should keep covenant monitoring focused on the risks most relevant to their scheme and sponsoring employer amid continued economic uncertainty, LCP has warned.

In a new blog, the consultancy highlighted the potential impact of geopolitical tensions, energy and commodity price movements, supply-chain disruption, cyber threats and financing pressures, stressing that trustees should consider how these risks could interact with their scheme's funding and investment positions. LCP argued that monitoring should remain proportionate to the strength of the employer covenant and the scheme's funding position, with trustees taking a proactive approach, reviewing information-sharing arrangements and considering pre-agreed triggers for mitigating action. It suggested this was particularly important for schemes considering run-on and surplus release, where trustees may rely on employer support over a longer period. LCP senior consultant, Tom Gillespie, said: "Trustees need to understand the risks that matter most for their own employer, and how these covenant risks can interact with the scheme's funding and investment risks. An integrated approach is essential."

NextGen Pensions has become a Community Interest Company (CIC), formalising its commitment to attracting, developing and supporting emerging talent in the pensions industry.

The move is intended to establish a sustainable industry resource dedicated to supporting the next generation of pensions professionals through mentoring, networking, educational events and career development opportunities. NextGen confirmed that all its programmes would remain free to access, maintaining its focus on accessibility and inclusion. As part of the transition, the organisation is also refreshing its leadership and delivery structure, with plans to recruit volunteers for five key positions: head of communications, fundraising, operations, mentoring and events. NextGen Pensions chair, Victoria Panormo, said: "The pensions industry faces significant challenges and opportunities over the coming years. By becoming a CIC, we are better positioned to champion emerging talent, broaden access to our profession and help build a more sustainable future for our industry." The organisation added that the new structure would enable it to expand its reach and strengthen its support for those entering and progressing through the sector.

The Greater Manchester Pension Fund (GMPF) has committed £30m to Newcore Capital's core-plus social infrastructure strategy, with £15m allocated to the Newcore Social Infrastructure Income Fund (NSIIF) and a further £15m to the NSIIF North West Co-investment Partnership (NNCP).

The regional partnership will focus on investments across Cheshire, Cumbria, Greater Manchester, Lancashire, Merseyside and West Yorkshire, while NSIIF provides exposure to social infrastructure assets across the UK. The £375m semi-open-ended fund targets net annual returns of 9-11 per cent and annual distributions of 4-5 per cent, investing in sectors including healthcare, education, childcare, transport and waste management. NSIIF has made 20 investments to date and secured more than £100m in commitments following its second close in February 2026. Newcore Capital CEO, Hugo Llewelyn, described GMPF's investment as a "huge vote of confidence", adding that the commitment would support capital deployment nationally and regionally. He argued that private investment plays an important role in modernising the UK's social infrastructure while delivering attractive returns and positive social impact. Newcore currently manages approximately £800m in social infrastructure assets and committed client capital across its investment strategies.

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