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TPR urges schemes to embrace innovation and data 'revolution'


By Callum Conway

The Pensions Regulator (TPR) interim director of supervision, David Walmsley, has urged pension schemes to "embrace" innovation and the data revolution.

Speaking at the Pensions Administration Standards Association (PASA) conference, Walmsley urged the industry to "adopt modern data practices”, noting that many administrators have already started to embrace innovation


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Howden set to acquire Barnett Waddingham

Global insurance and employee benefits intermediary group Howden has announced plans to acquire Barnett Waddingham for an undisclosed amount

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Pensions dashboards present ‘great opportunity’ for fraudsters

The introduction of pensions dashboards will present a "great opportunity" for fraudsters, Target Professional Services director, Lisa Lyon, has warned

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Majority of administrators think VfM framework is ‘large effort for little improvement’

The majority (55 per cent) of pension administrators believe a new value for money (VfM) framework would require a "large effort for no/little improvement for employers and members," according to a poll from the Pensions Administration Standards Association (PASA) conference

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Policy certainty and structural reforms required to 'boost' pension investment in UK assets

Policy uncertainty and regulatory hurdles are preventing UK pension funds from investing more into UK productive assets, the Local Government Pension Scheme (LGPS) pool Border to Coast Pensions Partnership has warned

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DB transfer take-up 'significantly' higher where members have more visibility on value

Defined benefit (DB) pension schemes that enable members to view their illustrative transfer value on a scheme website have consistently higher transfer take-up rates, analysis from LCP has revealed

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Industry reliance on outdated technology could risk 'stifling' engagement

Many pension providers are still relying on outdated technology, with nearly half (41 per cent) still posting out letters, despite UK workplace pension savers wanting better digital tools to connect with their pensions, research from Bravura has revealed

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DB pension transfer activity hits record low

Defined benefit (DB) pension transfer activity fell to a record low in February 2025, according to XPS Group's Transfer Activity Index, which the group highlighted as evidence of increasing member caution over retirement arrangements
FCA sets out five-year strategy to support growth

The Financial Conduct Authority (FCA) has launched a five-year strategy aimed at strengthening consumer protection, fostering innovation, and enhancing efforts to combat financial crime
Advisers concerned about IHT changes; half of clients affected by reforms

Nearly three quarters (71 per cent) financial advisers are concerned about pensions being brought into scope of inheritance tax (IHT) from 2027, research from Quilter has found
'Concerning' number of savers failing to take pension advice, research reveals

Less than two fifths (39 per cent) of UK adults aged 50 and over took advice from a financial adviser before taking money out of their pension, research from Royal London has revealed

DWP to resolve remaining state pension underpayment cases by March 2027

The Department for Work and Pensions (DWP) has said that it is expecting to resolve all remaining state pension underpayment cases by the end of March 2027, with further updates to be shared as part of the government’s ‘Spring Forecast’ later this week (26 March)
Record 299 buy-ins completed in 2024

A total of 299 defined benefit (DB) pension scheme buy-ins were completed in 2024, marking the largest ever number of transactions completed in a single year, analysis from Hymans Robertson has confirmed


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