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Pension Schemes Act comes into force in ‘landmark moment’, Bell says


By Natalie Tuck

The Pensions Schemes Act has come into force today (29 April) after being granted Royal Assent, in what Pensions Minister, Torsten Bell, described as a “landmark moment” for savers.

The passing into law, confirmed to Pensions Age by the Department for Work and Pensions (DWP), comes just one day after the former Pension Schemes Bill cleared parliament after the House of Lords accepted final amendments introducing new ‘guardrails’ on mandation powers


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Pensions salary sacrifice cap passes into law

Changes that will cap the salary sacrifice on employer pension contributions at £2,000 a year have passed into law, as the National Insurance Contributions Act received Royal Assent yesterday (29 April), alongside the Pension Schemes Act

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Three-quarters of schemes beat passive portfolios - Howden

Almost three quarters (71 per cent) of pension providers achieved higher returns than passive portfolios in 2025, according to Howden Employee Benefits’ annual research into DC default investment strategies

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ORAs highlight cyber and data security shortcomings

Over half of respondents (53 per cent) to a survey of pension professionals said that cyber and data security was the area their Own Risk Assessment (ORA) found to be most in need of improvement

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PRA proposes changes to funded reinsurance impacting BPA market

The Prudential Regulation Authority (PRA) has set out proposals that could significantly raise the capital cost of funded reinsurance for bulk purchase annuity (BPA) insurers, tightening the treatment of arrangements commonly used by providers offering buy-ins to UK defined benefit (DB) pension schemes

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UPDATED: TPR’s expanded CDC code of practice laid in parliament

The Pensions Regulator’s (TPR) updated code of practice for collective defined contribution (CDC) schemes has been laid before parliament, bringing multi‑employer CDC schemes a step closer to market

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Pension Schemes Bill clears parliament with new ‘guardrails’ on mandation

The Pension Schemes Bill (PSB) cleared parliament last night (28 April), after the House of Lords accepted final amendments introducing new ‘guardrails’ on mandation powers

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Alltrust acquires Phoenix Wealth Family Suntrust schemes

Alltrust Services Limited has agreed to acquire the Phoenix Wealth Family Suntrust schemes, a move that would make it the only UK self‑invested personal pension (SIPP) provider accepting new business into a family pension trust structure once completed
Retirement feels permanently out of reach to almost half of workers

Growing numbers of workers believe they will never be able to afford to retire, according to research by Wealth at Work
Pension schemes warned of savers’ vulnerability to IHT scams

Pension schemes have been warned that savers face a growing risk of scams as unused pension pots are set to be brought within inheritance tax (IHT) calculations
Schroders Capital commits £100m to UK innovations via new LTAF

Schroders Capital has committed over £100m to 19 innovative investments across artificial intelligence (AI) and biotech companies on behalf of the UK Innovation Long-Term Asset Fund (LTAF), the first structure of its kind for UK venture capital

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Over £160bn of DC assets in hands of fewer than 50 trustees, LCP warns

Fewer than 50 trustees now control more than half of all occupational (trust-based) defined contribution (DC) pension assets, according to research from LCP, raising concerns over governance, accountability and outcomes as the market consolidates into megafunds
House of Lords continues opposition to investment mandation despite Commons concessions

The House of Lords has voted to continue its opposition to investment mandation in the Pension Schemes Bill, despite a fresh round of concessions from the House of Commons aimed at easing concerns over trustee duties and member outcomes.

Peers backed an amendment to insist on their previous changes to the Pension Schemes Bill, by 197 votes to 129, prolonging the parliamentary standoff over the government’s proposed 'reserve power' on asset allocation


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Aviva Workplace pensions director, Simon Ellis, explains how financial wellbeing isn’t just a buzzword; it should be a business necessity.

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Our video explores choices for benefit schemes. With funding improved, CFOs and FDs can step back from volatility, considering buyout, financial or operational consolidation to manage risk and secure outcomes.

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Making a difference with critical concession infrastructure

Sponsored by Aberdeen Investments
What is concession infrastructure, and why does it represent an attractive and growing opportunity for UK pension schemes?

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Swipe right for retirement: Can pension apps match modern expectations?

As consumer technology races ahead, pensions are still struggling to deliver digital experiences that feel intuitive, responsive and engaging. Callum Conway explores whether pension apps are finally closing the gap

Sizing up the social mobility challenge

Paige Perrin investigates why social mobility in the UK pensions industry remains limited, and how apprenticeships, DEI initiatives, and smarter recruitment could finally open the doors to a more diverse workforce, in the latest for Pensions Age’s special focus on DEI

Disclosures without the drama

As policymakers grapple with the future of pension sustainability reporting, UK Sustainable Investment and Finance Association (UKSIF) chief executive, James Alexander, sits down with Sophie Smith to call for smarter, more coherent disclosure rules that drive real-world outcomes, rather than red tape barriers

Going private: The asset class gathering pace

As the Mansion House Compact and Accord take hold, UK pension schemes are stepping up allocations to private markets. Sandra Haurant reports

Is this the real life? Is this just fantasy?

The challenge for the pensions industry to spot AI-generated ‘deepfakes’, and the role they may play in identity fraud

The sum of many small parts

As the number of self-employed continues to rise, what changes are required to better assist them in their retirement saving?

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With the professional trustee market reportedly entering a new stage of maturity, Laura Blows

explores whether the sector is experiencing any growing pains

The future of covenant assessment

Employer Covenant Practitioners Association chair, Luke Hartley, explores the continued importance of the employer covenant throughout this period of great change

Putting the ‘me’ in member

Universities Superannuation Scheme (USS) pensions operations and services executive,

Stephen Worthington, explains how the UK’s largest private pension scheme has made member experience central to its operations

Cheap and cheerful?

The debate between cost and value has continued to persist, as whilst increased scale has allowed providers to negotiate better fees, not all are convinced that this is delivering the best value for savers

Closing the disability pensions gap

Many people with disabilities are unable to accumulate significant occupational or private pension savings, in part because of the difficulties to find work and the struggles they may face within the workplace. David Adams looks at what the pensions industry, employers and policymakers might do to help ensure more disabled people can enjoy a better income in retirement

Multi-employer CDC in practice – from drawing board to delivery

After years of planning, the first multi-employer CDC pension schemes could be launched as early as 2027, with regulators set to publish rules this autumn

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Insurance, data and the path to buyout
Laura Blows discusses the challenges facing the DB sector and how small schemes can avoid a traffic jam en route to insurance, with Isio partner, Sam Coombes, and fellow Isio partner, Steve Robinson

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

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