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Reeves to launch adequacy review in upcoming Mansion House speech


By Sophie Smith

Chancellor Rachel Reeves is set to announce the launch of the second phase of the pensions review, focusing on pensions adequacy, at her Mansion House speech later this month, alongside plans to examine the state pension, reports have suggested.

An article from the Financial Times said that Reeves will announce plans to appoint a commission to lead the pensions adequacy review, looking at auto-enrolment rates alongside the state pension and retirement savings of the self-employed


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Athora agrees to acquire PIC for £5.7bn

Pan-European savings and retirement services group Athora Holding Limited has agreed to acquire Pension Insurance Corporation Group, the parent company of Pension Insurance Corporation (PIC), for £5.7bn

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Govt urged to use the PSB to abolish PPF administrative levy

The government should take advantage of the Pension Schemes Bill to abolish the Pension Protection Fund (PPF) administration levy and permit the PPF to cover its operating costs through its own fund and “substantial” surplus, Pension UK has said

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European Pensions Awards 2025 winners revealed

The winners of the 18th annual European Pensions Awards were announced last night at the much-anticipated annual gala dinner at the prestigious London Marriott Hotel Grosvenor Square

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'Clouds on the horizon' for DB scheme funding despite recent improvements

Defined benefit (DB) pension scheme funding levels continued to improve in June 2025, according to Broadstone, although further uncertainty and continued market volatility are likely ahead of further tariff announcements from and negotiations with the United States

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DC retirement expectations improve despite weak investment returns

The expected future living standard in retirement provided by defined contribution (DC) savings rose in Q1 of 2025, driven by an increase in expected future returns pre-retirement, Aon’s UK DC pension tracker has revealed

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This week in pensions: 30 June - 4 July

Pensions Age looks back on the key developments in the industry this week, including the FCA's targeted support consultation, key industry rebrands and acquisitions, and more

Check out our latest news

News in brief - 4 July 2025

The latest news in brief and mandates from the past seven days
Chesnara agrees £260m HSBC Life acquisition

European life and pensions consolidator, Chesnara, has announced that it has agreed to acquire HSBC Life (UK) from HSBC Bank plc for a total consideration of £260m
Aegon Master Trust launches pension tracing and consolidation service

Aegon has announced that it will introduce new pension tracing and consolidation services for its master trust clients, describing this as a "significant milestone" in its ongoing collaboration with The Pension Lab
TPO upholds complaint against employer for maladministration

The Pensions Ombudsman (TPO) has upheld a complaint against Quality Villas Ltd after finding that the company failed to pay contributions into a worker’s Nest pension despite deducting contributions from her pay over 18 months

Blog: Double standards?

Sophie Smith looks at the struggles women face in pensions, both as savers and as employees within the industry itself, and the need to provide support to all when facing difficult times
Disabled and chronically ill workers less confident about having a comfortable retirement

Employees and self-employed people with disabilities and long-term health conditions are "largely" less confident about having a comfortable retirement, a study from Barnett Waddingham has revealed


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Highlighted Content

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

Latest Podcasts

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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: Who matters most in pensions?
In the latest Pensions Age podcast, Francesca Fabrizi speaks to Capita Pension Solutions global practice leader & chief revenue officer, Stuart Heatley, about who matters most in pensions and how to best meet their needs
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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