NextGen has launched its 2025 mentoring programme.

The initiative, which was established in 2019 to connect individuals at earlier stages of their careers with pensions and investment professionals, has already paired over 250 participants with experts. Those who apply for the programme will be matched on a one-one basis, based on individual experiences and the areas in which they seek to receive or offer support. Anyone working in pensions can sign up for the latest round by visiting NextGen’s website. Commenting on the launch, NextGen vice chair, Victoria Panormo, said: “Connecting individuals at earlier stages of their careers with inspiring people across the pensions industry is something that’s so important to us at NextGen. Through this round of mentoring, our hope is to help people of all ages, backgrounds, and experiences create meaningful relationships that will support them in their careers. Through this, we believe we’ll create a smarter, wiser, more productive, innovative and creative pensions industry.”

TPT has completed a ‘major digital transformation’ before launching its new defined contribution (DC) retirement offering.

TPT said the decision to build a new platform was taken to avoid the “substantial challenge” posed by legacy systems. The improvements involved redesigning and rebuilding its technology and service provision to members from scratch, with improved customer journeys intended to simplify pension information and support members' decisions. The solution will also provide a range of upgrades that will improve service for members and employers, designed to align directly with TPT’s new DC decumulation offering, which will introduce a new member portal and mobile app featuring improved engagement and education tools. TPT said the solution was built upon the principles of “digital first”, enhancing engagement and simplifying the complex decisions facing members at retirement. With this in mind, the platform will include a drawdown option allowing members to transition into an annuity later in life if they want to guarantee their future retirement income.

The London Pensions Fund Authority (LPFA) has published its statement of pension fund accounts for 2024/25.

The LPFA is the largest Local Government Pension Scheme (LGPS) in London, with net assets of £8.03m, and is responsible for providing pension benefits for 99,585 members. The value of the fund’s assets on 31 March 2025 was £8,051m, compared with £8,038m on 31 March 2024. Over the 12 months to 31 March 2025, the fund delivered a 3.1 per cent investment return, and the net inflow for the year was £16.7m, compared to a budgeted inflow of £392.6m. Meanwhile, the fund’s membership as of 31 March 2025 grew by 1,067, while active members decreased by 772 and pensioners increased by 356. The cash held directly by LPFA has increased by £24 to £35m per the cash balance range stipulated in its treasury policy. In addition, the fund explained that its current liabilities were reduced by £57m to £31m because the significant cessation surpluses payable at the end of 2023-24 were paid during the year.

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