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Safety net needed to give DB schemes confidence to use surplus funds, govt told


By Sophie Smith

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.

In its latest briefing, The Economic Miracle of Great Britain, the Social Market Foundation (SMF) suggested that, to maximise the amounts being returned to employers, DB trustees will need to feel secure that they are not threatening member benefits


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Market value of private sector DBH schemes falls; insurance policies hit record high value

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

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FCA approves launch of two Aegon LTAFs

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

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Calls grow for 'fairer' FOS as pension redress remains at ‘historic low’

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

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Over half of UK adults lack confidence in amount saved for retirement

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

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‘Divorce gap’ leaves women worse off in retirement

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)

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Reforms needed to make DC decumulation easier to navigate, govt told

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"

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Improved DB funding levels see trustees prioritise managing illiquid assets

“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
Govt announces delay in NHS pension remedial service statements

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
AI ‘transforming’ pensions admin; use by members remains limited

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
UK BPA market ‘surged’ in 2024 following record number of transactions

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

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Research reveals lack of retirement preparedness as life expectancy increases

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
FCA launches policy sprint to test Targeted Support journey

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


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