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Reynolds defends McCloud remedy delays amid complexity concerns


By Sophie Smith

The government has written to the departments responsible for the McCloud remedy, requesting details of their plans to issue remaining remediable service statements and remediable pension savings statements to all affected members.

Providing an update in the House of Commons, Economic Secretary to the Treasury, Emma Reynolds, emphasised that whilst there have been delays, "delivering the remedy to more than 3 million affected scheme members is also an intensive administrative challenge"


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Two unnamed schemes complete £67m multi-scheme buy-in with Just Group

Two unnamed schemes have completed a multi-scheme buy-in worth £67m with Just Group, securing the benefits of all members of the scheme, including 675 pensioners and dependants, as well as 256 deferred members

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Festina Finance announces UK launch

European pension administration technology provider, Festina Finance, has announced its expansion into the UK market, confirming that the group is now fully operational in the UK

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Gen X admit to poor pension knowledge; Gen Z 'over-confident' in their understanding

Over a quarter (27 per cent) of 45–54-year-olds say they have no understanding “at all” of pension terminology, research from Get Britain Pension Ready, a campaign by Annuity Ready, has revealed

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Guest comment: The unknown cost of government pension delay

Society of Pension Professionals (SPP) council member, Matt Masters, discusses the need for the government to act sooner rather than later to address pension adequacy concerns

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Majority of savers unsure of retirement options

Less than two-fifths (39 per cent) of people agree they have a clear understanding of their retirement options, according to research from Hargreaves Lansdown, which revealed ongoing confusion around retirement planning

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TPO partly upholds complaint against respondent for maladministration

The Pensions Ombudsman (TPO) has partly upheld a complaint against ReAssure due to the "significant" distress and inconvenience its maladministration caused the complainant

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Keeping track of the latest pensions dashboards connections

The number of pension providers and schemes that have completed their connection to the pensions dashboards ecosystem has continued to grow, with a growing number of providers confirming their connection to the pensions dashboards ecosystem
BoE’s hold of base rate brings ‘welcome stability’ for retirement savers

The Bank of England’s (BoE) decision to maintain the base rate of 4.25 per cent is expected to bring “welcome stability” to those planning for retirement, supporting annuity rates and competitive savings products
This week in pensions: 16 - 20 June 2025

Pensions Age looks back on the key developments in the industry this week, including further discussion of the Pension Schemes Bill and updates from the Pensions and Lifetime Savings Association’s (PLSA) Local Authority conference
Updated: TPO's Pensions Dishonesty Unit closes following govt funding constraints

The Pensions Ombudsman's (TPO) pilot Pensions Dishonesty Unit (PDU) has come to an end, after broader government funding constraints meant that funding for the PDU ended on 31 March 2025

News in brief - 20 June 2025

The latest news in brief and mandates from the past seven days
TPO to liaise with DWP on impact of 2024 court ruling on injury benefit arrangements

The Pensions Ombudsman (TPO) has confirmed that it is liaising with the Department for Work and Pensions (DWP) on the impact of a 2024 Court of Appeal decision, which could mean that some individuals will not have access to any ombudsman


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The power of digital

Our panel of experts considers how the pensions space can make the most of the exciting developments in technology, while keeping a close eye on the associated risks

Cyber insurance for pension schemes

Cyber risk is a growing concern for the pensions industry. Aon associate partner, David Burwell, explores the challenges trustees face in securing adequate cyber insurance coverage

AI’s future within the pensions industry

Capita Pension Solutions managing director, Chris Clements, reveals Capita’s vision for AI in the pensions sector

Protecting growth in uncertain markets

How protected equities can support member outcomes in volatile markets without abandoning growth

Virgin Media – help is on its way

Matthew Swynnerton considers the implications of the DWP’s recent announcement and the TPT litigation on the Virgin Media case

Adapting with purpose, leading with stability

Capita Pension SAs industry change gathers pace, newly reappointed chair of the trustee board, Mark Condron, looks to a bright future with People’s Pension

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Shifting gears

As the pensions landscape consolidates and evolves, Paige Perrin examines how The Pensions Regulator is adapting its role by shifting toward a more ‘prudential’ style of regulation. But what does this mean for the industry, and how is it reshaping relationships between the regulators, pension schemes, and trustees?

Finally on target?

Callum Conway looks at why the freedom and choice reforms failed to close the pensions advice gap, and how targeted support might offer the solution

Getting to grips with the pension ethnicity gap

Pension engagement among non-white savers is still lagging, posing challenging questions for the industry to answer. As part of Pensions Age’s year-long focus on diversity, equity and inclusion (DEI), Jon Yarker finds out more

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Getting entangled in sustainable investing red tape

UK pension schemes have a unique role to play in driving sustainable impact, but complex rules are slowing momentum

Eyes on the prize

Regulators and policymakers continue to consult on whether DC schemes provide value

for money to members. But is there a risk their good intentions will be overwhelmed by other

political priorities? David Adams reports

Thinking differently

As part of Pensions Age’s year-long special focus on diversity, equity and inclusion (DEI),

Laura Blows explores neurodiversity and the pensions workplace

The best laid plans?

The government has confirmed that it will share a pension reform roadmap, but exactly what should be at the top of this list? Sophie Smith reports

Building a buy-in

Skipton group pensions manager, Andy Cheetham, pulls back the curtain on the pension scheme’s recent journey to a full buy-in

From data to delivery

Pensions Age sits down with Pension Administration Standards Association (PASA) chair, David Fairs, to discuss his newly appointed role and to find out how the association is raising administration standards and tackling data and dashboards challenges head-on

Trump’s tariffs spark a closer look at Europe

Sandra Haurant considers how Trump’s tariffs may have shifted investor attitudes towards the

European equities market

Inherited problems

The government’s plans to include pensions in the scope of inheritance tax has generated concern about how its rules can be feasibly implemented within the pensions industry. Laura Blows finds out more

Turning back time

DB schemes are currently enjoying funding surpluses, but haven’t we been here before? Laura Blows considers the changes and challenges that have occurred since the previous era of DB surplus in the 1980s/1990s, and the lessons to be learnt from that time

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A changing DC market
In our latest Pensions Age video interview, Aon DC senior partner and head of DC consulting, Ben Roe, speaks to Laura Blows about the latest changes and challenges within the DC sector

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?’

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Podcast: A look at asset-backed securities
Royal London Asset Management head of ABS, Jeremy Deacon, chats about asset-backed securities (ABS) in our latest Pensions Age podcast
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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

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