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IBM pension scheme completes £700m buy-in with Standard Life

By Jack Gray

18/2/26

The IBM I.T. Solutions Pension Scheme (I Plan) has concluded a £700m buy-in with Standard Life, securing the benefits of more than 3,600 members.

The bulk purchase annuity deal covers both pensioner and deferred members, and removes funding and investment risk for the scheme

Tribunal upholds FCA bans and fines for pension adviser and fund manager

The Upper Tribunal has upheld the Financial Conduct Authority’s (FCA) decisions to ban and fine an adviser and fund manager

Usage of pension tracing service rises by 58 per cent as savers hunt for lost pots

Calls to the government’s pension tracing service rose by 58 per cent in the year to 30 September 2025, as savers increasingly sought to track down old or lost pension pots, analysis from Lubbock Fine has revealed

‘Coming wave’ of CDC schemes must balance fairness with higher retirement incomes

The industry should be optimistic that the next generation of collective defined contribution (CDC) schemes can deliver fairness alongside the broader benefits they offer to savers, LCP has said

Sopra Steria pension scheme signs £113m buy-in with PIC

The Steria Management Plan (SMP) section of the Sopra Steria Retirement Benefits Scheme has secured a £113m full-scheme buy-in with Pension Insurance Corporation (PIC)

Over-50s putting retirement plans at risk due to underestimating life expectancy

People aged over 50 are putting their retirement plans at risk due to underestimating their life expectancy, according to a study from Standard Life

‘Fear of getting it wrong’ could leave Millennial women nearly £500k worse off in retirement

Millennial women could be left almost half a million pounds worse off in retirement than their male counterparts, as confidence and a 'fear of getting it wrong' continue to hamper engagement with long-term savings, analysis from Moneybox has revealed

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Self-employed workers more than twice as likely to think they will never retire

Self-employed workers are more than twice as likely as employed workers to believe they will never retire, according to research from the Get Britain Pension Ready campaign

Industry urged to 'break cycle of failed ideas' on pensions adequacy

The pensions industry risks “sleepwalking into another generation of under-saving” unless it experiments with new approaches to member engagement, People's Pension has warned

Three sponsor-linked pension schemes complete BPA deal with L&G

Three defined benefit (DB) pension schemes sponsored by companies owned by the same group have completed an £86m bulk purchase annuity (BPA) deal with Legal & General (L&G)

Procentia releases DB scheme actuarial valuation tool

Pension administration software and technology provider Procentia has launched an end-to-end actuarial valuation system for defined benefit (DB) pension schemes and life insurers

Safeguarding member experience post-buyout an 'opportunity and responsibility'

Safeguarding member experience after buyout represents both an opportunity and a responsibility for trustees and advisers, according to Law Debenture and LCP

Noble Denton Consultants pension scheme completes £11.4m buy-in with Just Group

The Noble Denton Consultants Limited Pension Scheme has completed a £11.4m full scheme buy-in with Just Group, securing the benefits of 106 members

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Highlighted Content

Latest Podcasts

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

Keeping on track

In the latest Pensions Age podcast, Sophie Smith talks to Pensions Dashboards Programme (PDP) principal, Chris Curry, about the latest pensions dashboards developments, and the work still needed to stay on track

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Check out our latest appointments

Appointments update – 18 February 2026

BlackRock has appointed Cyprian Njamma as head of investment strategy for UK defined benefit (DB) pensions

Appointments update – 12 February 2026

Legal and General (L&G) has appointed Lucy Blanchard-Burton as head of master trust and Independent Governance Committee (IGC)

Appointments update – 5 February 2026

LGPS Central has confirmed David Kane will serve as its permanent chief finance officer (CFO) following a period as interim CFO, while Nicola Dymond has been appointed as chief operations & technology officer

Appointments update – 3 February 2026

Local Pensions Partnership Investments (LPPI) has appointed Roelie van Wijk as a non-executive director, effective 1 April 2026

Appointments update – 2 February 2026

Dalriada Trustees has appointed Rosy Anand as head of defined contribution (DC) trusteeship

Check out our latest features

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?

Coming of age

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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Check out our latest jobs

Head of Pensions

Posted by

84,421 to £93,565 plus benefits and relocation support

Stevenage / Hybrid

Full time

The Hertfordshire Pension Fund is part of the Local Government Pension Scheme (LGPS) and administered by Hertfordshire County Council. With 123,922 members, 529 employers, and £6.25 billion in assets, we are a cornerstone of financial security for thousands of public sector employees across the county. Joining us means playing a vital role in delivering excellence, innovation, and integrity in public service.

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Pensions UK Chair

Posted by Pensions UK

Pensions UK is the voice of pensions in the UK, trusted and heard by the government and the pensions industry.

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In-House Pensions Manager, Governance

Posted by Sammons Pensions Recruitment

superb compensation package

Hybrid/Glasgow office 3 days per week

We’re looking for a Pensions Risk & Governance Senior Manager to lead risk oversight and governance for one of the UK’s largest occupational pension schemes. This is a high-impact role offering hybrid working from Glasgow (3 days in-office per week) and the chance to drive governance at the highest level.

To discuss this role in confidence please call Sarah Bergin-McCarthy on 020 7293 7022 or email sbm@sammons.co.uk. please quote reference 119233.

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Pensions System Developer

Posted by Abenefit2u

Salary depended on experience

Either 100% remote or hybrid working in London or South East

Permanent

Are you an experienced SQL Developer with pensions or payroll systems knowledge? Do you thrive on working with complex data in a regulated environment where accuracy, compliance and quality truly matter?

This ambitious and expanding business is strengthening its already well-established development function and is seeking a talented SQL Developer with pensions experience to join its growing team. With recent new business wins driving expansion, this is an exciting opportunity to step into a key role offering real influence, autonomy and the chance to shape systems that directly support pensions operations and client delivery.

For a confidential discussion please telephone Tasha Davidson on 0208 274 2842 / 07958 958626 or email tasha@abenefit2u.com

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Deputy Pensions Manager, in-house

Posted by Sammons Pensions Recruitment

Competitive package + comprehensive benefits

Hybrid/Surrey offices 2 days a week

Exceptional, progressive in-house appointment for a motivated Pensions professional. M&A and TUPE knowledge beneficial.

To discuss this role in confidence please call Sarah Bergin-McCarthy on 020 7293 7022 or email sbm@sammons.co.uk. please quote reference 71351.

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THE ROLE OF INSURANCE-LINKED SECURITIES (ILS) IN PENSIONS TODAY

Francesca Fabrizi discusses the role insurance-linked securities can play in both DB & DC schemes with Leadenhall Capital Partners senior managing director, Alistair Jones

Private markets – a growing presence within UK DC

Laura Blows discusses the role of private market investment within DC schemes with Aviva Director of Investments, Maiyuresh Rajah

Podcast: From pension pot to flexible income for life

Podcast: Who matters most in pensions?

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