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Govt confirms plans to ease pension transfers to 'reputable' schemes

By Callum Conway

4/11/2026

The government has confirmed plans to allow pension transfers to 'reputable' schemes without requiring further checks against existing scam warning flags, as part of reforms intended to simplify legitimate transfers while strengthening protections against fraud.

In response to the consultation on amendments to the Occupational and Personal Pension Schemes (Conditions for Transfers) Regulations 2021, the Department for Work and Pensions (DWP) confirmed it would proceed with most of its original proposals, with the revised regulations expected to come into force in April 2027

TPT first to apply for multi-employer CDC scheme authorisation

TPT Retirement Solutions has applied for authorisation from The Pensions Regulator (TPR) to launch a multi-employer collective defined contribution (CDC) pension scheme, the first provider to do so

'Significant' governance gaps remain between small and large pension schemes

Just 27 per cent of small defined contribution (DC) pension schemes have an effective system of governance (ESOG) and have completed an own risk assessment (ORA) or governance review, compared with 94 per cent of large DC schemes, according to research from The Pensions Regulator (TPR)

Guided retirement plans spark concerns over trustee responsibilities and member choice

The government's guided retirement proposals have been welcomed by the pensions industry, although concerns were raised about a potential increase in trustee responsibilities, protecting pension freedoms, and the practical challenges of implementation

The Delcam Retirement Benefits Scheme has completed a £28m full-scheme buy-in with Royal London, securing the benefits of 171 members

Govt and regulators launch consultation on guided retirement

The government and regulators have launched a consultation on introducing default retirement income solutions across trust-based and contract-based pension schemes, proposing a £10,000 threshold for mandatory longevity protection under its guided retirement framework

DWP consults on draft legislation for retirement CDC

The Department for Work and Pensions (DWP) has published a consultation on the draft legislation for the introduction of retirement collective defined contribution (R-CDC) schemes, alongside its response to initial consultation on R-CDC pensions

AMNT expands membership beyond MNTs for first time

The Association of Member-Nominated Trustees (AMNT) has widened its membership for the first time since its formation in 2010 to include employer-nominated trustees, directors, scheme secretaries, clerks to trustees, and other pension scheme representatives

Fiduciary management fees rise by 14% for smaller pension schemes

Median fiduciary management base fees rose by up to 14 per cent for smaller pension schemes in 2025, reversing the previous year's downward trend, according to IC Select

Half of adults lack the understanding needed to make retirement decisions

Half of UK adults do not feel they understand pensions well enough to make retirement decisions, while 47 per cent have no plan for their retirement finances, according to research from the Money and Pensions Service (Maps)

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Highlighted Content

Leading with data, succeeding with mindset

Ranjit Shoker discusses the most effective way pension schemes can present themselves to insurers and superfunds, leading to efficient risk transfer processes

The rise of CDC across Europe

How are European countries currently adopting collective DC (CDC) pension models, and what lessons can the UK learn from these established CDC markets?

De-risking roundtable

Our experts look at the evolving UK pensions de-risking market

How Cyber Resilient is Your Pension Scheme?

With increasing regulatory and member expectations, it can be challenging to know where to start, or what to do next. Aon’s team of pensions cyber specialists have been delivering specialist pensions cyber advice since 2017.

Is it time for UK housing investors to go ‘full residential’?

The case for investing across the UK living ecosystem.

L&G roundtable

Our experts discuss Governance, partnerships and run-on options for DB schemes

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Latest Podcasts

Pension risk transfer partnership

Podcast: From pension pot to flexible income for life

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

The role of CDC

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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Check out our latest appointments

Appointments update – 3 November 2026

TPT Retirement Solutions (TPT) has announced the appointment of Kayleigh Pegler-Knight as head of implementation

Appointments update – 2 November 2026

Standard Life has appointed Michelle Ostermann as chief executive officer (CEO) of its retirement solutions business and group chief investment officer, subject to regulatory approvals

Appointments update – 29 October 2026

Eversheds Sutherland has announced the appointment of partner Sophie White as its new practice group head for employment, labour and pensions

Appointment update – 19 October 2026

The Association of Professional Pension Trustees (APPT) has announced that council members, Christopher Wheeler and Julia Yates, have been appointed as co-chairs

Appointments update – 8 October 2026

Aptia has appointed Jo Tyler as its UK chief operating officer (COO)

Check out our latest features

You choose the endgame, we’ll build the bridge

Buyout, run-on or both? Whatever your scheme’s preferred destination, we’ll help you construct the way forward.

Change ahead

Paige Perrin sits down with new Pensions UK chair, Jamie Fiveash, to discuss his ambitions for his tenure, the association’s current areas of focus, and some of the biggest challenges facing the industry

Not the finish line

As the process of connecting all eligible schemes’ data nears completion, Pete Carvill looks to the next steps schemes need to take in preparation for dashboards going live

Building blocks for retirement

Skanska head of pensions, Mohsin Harhara, tells Francesca Fabrizi how the pension plan is working hard to secure an optimum retirement for its members

Searching the EM landscape

Sandra Haurant considers how and why pension funds can invest in the varied area of emerging markets

Keeping things moving

Despite pension scam measures making pension transfers more secure, they’ve also slowed the process and created more complications for legitimate transfers. As the government considers changes to cut delays, Paige Perrin explores whether new technology can help providers speed up transfers without compromising security

The £25 billion question

As the government steers workplace pensions towards £25 billion megafunds, Callum Conway asks whether greater scale will actually improve member outcomes – or reduce choice and centralise risk into fewer hands

A new lease of life

For many, getting older also drives the need to become financially wiser. How can the pensions industry assist an ageing population through the challenges of retirement?

Scale Up Fund: Investing in science and technology

Lynn Strongin Dodds explores whether the £1 billion Scale Up Fund can attract UK pension schemes to venture-capital backed science and technology companies, amid debate over how the fund should be managed and structured

A bad influence?

David Adams considers how the industry and policymakers can learn from the best finfluencers to help boost engagement and understanding, while reducing the threat posed by bad actors online

Is TCFD worth the work?

Once heralded as an important step for driving sustainability in pensions, questions continue to be raised about the value of such reports

The case for governance

One year after the launch of the Governance for Growth Investor Campaign (GGIC), its chair, Caroline Escott, speaks to Callum Conway about investor rights, dual-class shares, corporate reporting reform and why weakening governance standards will not revive the UK’s IPO market

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Check out our latest jobs

Independent Person

Posted by Greater Manchester Pension Fund (GMPF)

To be agreed on appointment

Guardsman Tony Downes House, Droylsden

We are seeking an individual with significant expertise in pension fund governance, investment, administration, regulation or a related field who can provide objective challenge and independent insight.

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Head of Governance and Fire Administration

Posted by

67,168 - £78,227 pa (Pro rata for Part Time Posts)

Hybrid working, Bradford

37 hours per week

We are seeking an exceptional leader to join our senior management team as Head of Governance and Fire Pensions Administration. This is a unique opportunity to lead a high-performing service responsible for delivering pension administration and governance functions to Fire & Rescue Authority clients while ensuring the highest standards of regulatory compliance, customer service and organisational governance.

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Non-Executive Chair of the Armed Forces Pension Board

Posted by

600 per day

London

The Chair of the Armed Forces Pension Board will be responsible for developing public service pension scheme governance and will deal with a wide range of stakeholders including MOD employers, in particular with MOD Pensions Policy and members, Ministers, the Scheme Administrator (Defence Business Service (DBS)) and The Pensions Regulator (tPR). The Chair will be expected to contribute in a way that will benefit scheme members, employers and the taxpayer.

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Non-executive Member of the Armed Forces Pension Board

Posted by

450 per day

London

The new NED Member of the Armed Forces Pension Board will be responsible for bringing their wider Pension experience to bear in support of MOD further developing public service pension scheme governance for the Armed Forces Pension Schemes (AFPS). They will be expected to enhance the Board’s ability to provide robust, independent challenge to the scheme manager and delivery partners. This is essential given the scale, complexity, and sensitivity of current pension activity including remedy delivery, transformation and litigation related risks. The additional NED would have a particular focus on training and education ensuring regulatory compliance in this area.

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Trustee Director Appointments; The Aon MasterTrust

Posted by Aon

Aon is reviewing the Trustee Board of its market-leading Defined Contribution MasterTrust as part of its ongoing governance framework. As the MasterTrust continues to evolve, including Aon's recently announced intention to introduce a whole-life Collective Defined Contribution section, we are reviewing the Board's composition to ensure it continues to provide an appropriate balance of skills, experience, diversity of thought and independent oversight.

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AI and the future of UK pensions

Laura Blows speaks to Scottish Widows’ pensions expert Robert Cochran, about the growing role of artificial intelligence (AI) in the UK pensions industry

Supporting retirement decisions

Laura Blows discusses retirement saving levels in the UK, and the support required for members, trustees and employers, with WEALTH at Work director, Jonathan Watts-Lay

CDC in the UK pensions market

Pensions Age editor, Laura Blows, talks to Sophie Dapin, Director, Institutional Solutions EMEA at BlackRock, and host of BlackRock’s Rewiring Retirement podcast, about the growing interest in collective DC in the UK pensions market

Pension risk transfer partnership

Podcast: From pension pot to flexible income for life