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TPR launches ‘no-surprises’ enforcement approach focused on preventing member harm


By Callum Conway

The Pensions Regulator (TPR) has launched a new outcomes-focused enforcement approach, shifting away from compliance-led oversight towards earlier intervention, greater use of data and a 'no-surprises' model designed to prevent harm before it occurs.

It marks a further step in delivering the regulator’s new Corporate Strategy and will see TPR focus its resources on the risks and harms that have the greatest impact on pension savers


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Pension schemes urged to accelerate private capital investment under Mansion House agenda

UK pension schemes need to move from preparation to investment to achieve the goals of the Mansion House agenda, UK Private Capital has argued, as reports highlighted continued barriers to private market allocations across both defined contribution (DC) pensions and the Local Government Pension Scheme (LGPS)

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Industry calls for 'fundamental rethink' of General Levy framework as proposed increases raise concerns

The government has been urged to review the General Levy framework before introducing further increases, amid warnings that the proposals could disproportionately affect large schemes, distort value for money assessments and undermine wider consolidation objectives

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Aggregate DB scheme surplus continues to rise in August

The aggregate surplus of defined benefit (DB) schemes in the UK increased by £2.3bn in August 2026 to £273.6bn, the latest data from the Pension Protection Fund (PPF) has shown

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Pensions dashboards could 'hold the key' to identifying pots for IHT purposes

Pensions dashboards should allow executors to identify all unused pension pots belonging to deceased relatives, helping bereaved families manage potential inheritance tax (IHT) charges from April 2027, RSM UK has said

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DB schemes warned not to overlook value of contingent assets

Defined benefit (DB) schemes should consider a more prominent role for contingent assets in their pension strategy, according to a paper by the Society of Pension Professionals (SPP)

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Most savers favour returns over greater UK pension investment

Almost two thirds (61 per cent) of pension savers say they prioritise the best investment returns over location, despite the government’s efforts to encourage pension schemes to invest more in the UK, according to a survey by PensionBee

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Industry warns govt against ‘scale for scale’s sake’ as consultation closes

The government’s proposed workplace pension scale framework must focus on member outcomes rather than consolidation for the sake of it, while recognising scale already achieved through shared investment strategies and pooled assets, industry figures have argued
HMRC urged to ensure DB surplus rules are workable and flexible

HMRC’s proposals to enable defined benefit (DB) pension schemes to make direct authorised member surplus payments (AMSP) must work in practice, including restrictions on schemes winding up and requirements imported from employer surplus payments, the Association of Consulting Actuaries (ACA) has said
World’s largest pension funds grow at fastest rate in almost a decade

The world’s 300 largest pension funds saw their assets under management (AUM) increase at the fastest rate since 2017 in 2025, the Thinking Ahead Institute (TAI) has revealed
PASA publishes guided retirement guidance

The Pensions Administration Standards Association (PASA) has published new guidance to help trustees, administrators and providers assess how ready they are to deliver guided retirement

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Schemes that delay endgame decisions could 'miss' investment opportunities

Trustees and sponsors of defined benefit (DB) pension schemes could miss investment opportunities and take on unnecessary risks if they delay endgame decisions, Hymans Robertson has warned
5% of NHS Pension Scheme members could be affected by administration issues

Around 5 per cent of NHS Pension Scheme members could be affected by historic administration issues, with the Government Actuary’s Department (GAD) appointed to conduct a comprehensive audit of the scheme, the government has confirmed


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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

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