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Industry backs LGPS local investment if returns are unaffected

By Callum Conway

3/7/2026

Pension professionals support encouraging Local Government Pension Scheme (LGPS) funds to invest locally, but only where this does not compromise member returns, according to polling from the Society of Pension Professionals (SPP).

It found that 59 per cent of respondents supported the government’s proposed obligation for all LGPS funds to have a high-level objective on local investments, if there is no impact on investment returns

The employer contribution rate for the Teachers' Pension Scheme (TPS) will be cut by 11 percentage points from 1 April 2027

DB pension transfer redress expected to fall again in Q3 amid strong investment returns

Defined benefit (DB) pension transfer redress remains unlikely to be payable in most cases, after Broadstone’s latest tracker for Q3 2026 estimated that a typical consumer is now expected to be around £59,000 better off as a result of transferring

British Coal pension scheme appoints BlackRock as fiduciary manager

The £8bn British Coal Staff Superannuation Scheme (BCSSS), which serves around 39,000 members, has appointed BlackRock as its fiduciary manager

Smaller FM mandates decline as schemes move towards risk transfer

Smaller fiduciary management (FM) mandates have declined over the past 12 months, as smaller pension schemes increasingly move towards endgame risk transfer transactions, Quantum Advisory has found

Unnamed oil and gas sector pension scheme secures £48m buy-in with Canada Life

An unnamed pension scheme in the oil and gas industry has completed a £48m full-scheme buy-in with Canada Life

Almost 10% of under-30s opting out of AE as overall annual opt-outs reach 500,000

The number of people opting out of their auto-enrolment (AE) pension has reached 500,000 a year, analysis of Department for Work and Pensions (DWP) figures by Lubbock Fine Wealth Management has shown

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Highlighted Content

Modernising stability in an age of pension freedoms – free annuity guidance for People’s Pension members

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

Investment governance: Striving for excellence

What are the investment governance challenges for small schemes? Are today’s operating models fit-for-purpose? Where does AI fit into the governance framework? These are just some of the questions our governance panel addresses this month

Rothesay publishes its latest edition of "The journey to buy-out: The evolving endgame"

This year’s edition covers current topics exploring how the BPA market is evolving and driving innovation, as well as how the market is adapting to the needs of schemes of all sizes.

Three steps to smarter risk management for boards

David Burwell explores how boards can identify and manage the top risks facing their pension schemes

Creating value while navigating change

With so much change on the DC/master trust agenda, our panel of experts explores topics including default retirement solutions, private markets, targeted support and more

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 – 30 June 2026

Standard Life has appointed Nick Johnson as managing director for direct-to-customer within its Pensions and Savings business

Appointments update – 23 June 2026

Zedra client director, Dan Whincup, has been appointed as chair of the Member Services Committee (MSC) for The Pensions Trust

Appointments update – 19 June 2026

The Association of Member Nominated Trustees (AMNT) has appointed Lewis Brown as vice chair

Appointments update – 15 June 2026

Isio has appointed Dan Thomas as chief executive officer, effective 1 September

Appointments update – 8 June 2026

Legal & General (L&G) has appointed Charlotte Quarmby as head of transitions within its Pension Risk Transfer (PRT) business

Check out our latest features

The right connection

Targeted support currently only falls under the Financial Conduct Authority’s remit with DC schemes. Paige Perrin investigates if there could be space to explore expanding the regime to The Pensions Regulator’s jurisdiction of DB schemes and beyond

The burden of choice

Callum Conway explores whether pension schemes should prioritise preserving member choice or designing better defaults as the industry grapples with disengagement, decumulation and increasingly complex retirement decisions

Self-employment and pension saving: Navigating the challenge

Greater policy attention is being given to the self employed retirement savings gap, but what is realistically needed to help close this?

Born in the USA

Sandra Haurant explores why, despite growing concerns over concentration risk, tariffs and AI-fuelled volatility, US equities remain an unavoidable cornerstone of UK pension investment strategies

A power struggle

At the end of April, the long-running dispute about including investment mandation powers in the Pension Schemes Bill was finally settled with a last-minute compromise, after the row had threatened to sink the whole Bill. But why did this proposal to compel investment in some UK assets unite most of the pensions industry in opposition to it – and is the issue now really resolved? David Adams reports

Taxing confidence

With upcoming tax changes set to reshape both pension contributions and inheritance, Paige Perrin examines how reforms to salary sacrifice and inheritance tax (IHT) could affect saving behaviour, potentially weakening incentives at a critical time for pension adequacy

Adapting to change

Pensions Policy Institute director, Chris Curry, sits down with Paige Perrin to discuss the organisations latest work, ongoing adequacy challenges and the future of the UK pension system

Behind the net-zero divide

A widening gap is emerging in UK pensions’ climate ambition. While the largest schemes push ahead with net-zero targets and delivery plans, smaller DB funds are struggling to keep pace. Is this down to limited resources and regulatory reach, or a deeper question of relevance as many schemes edge towards their endgame?

Which way to turn

As the number of endgame paths increases, Gill Wadsworth explores how those managing DB schemes are deciding which route to take

Small schemes, powerful voices

Francesca Fabrizi speaks with ShareAction CEO, Catherine Howarth, and Trustee Sustainability Working Group Chair, Bobby Riddaway, about how collaboration can empower even small pension schemes to drive meaningful corporate change

Shaping regulatory evolution

Financial Reporting Council executive director of regulatory codes and standards, Mark Babington, sits down with Paige Perrin to discuss the regulator’s current priorities, including its consultation on proposed changes to actuarial standards for CDC schemes and its ongoing work on the UK Stewardship Code

Rules and regulation roundup: What the FCA and TPR have on their plates

Callum Conway looks at how the FCA and TPR are moving from consultation to delivery, as targeted support, dashboards and the Pension Schemes Act drive a more outcome-focused, data-driven pensions system

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Covenant and Financial Analyst

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from £89,459.00 per annum depending on skills, qualifications and experience

Brighton/hybrid 6 days per month in the office

Permanent

Your role will sit within our Market Oversight directorate, Market Oversight plays a central role in helping us understand how the pensions market is evolving and where risks and opportunities are emerging. You will contribute to building a system-wide view of schemes and the wider market—using data, insight and engagement to identify potential risks to members, and to highlight areas where standards can be improved. This includes monitoring trends, horizon scanning for new developments, and supporting proactive engagement with schemes and industry stakeholders in line with our newly published corporate plan.

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Member Non-Executive Directors, Pensions UK

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Join the Board of Pensions UK and help shape the future of pensions.

We are seeking senior leaders to provide independent challenge and strategic insight, supporting the Board in overseeing performance, governance and delivery for our members and the wider sector.

This is an opportunity to apply your strong judgement, credibility and expertise as we make Pensions UK and our members 2030 Ready.

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Chair, Policy Board, Pensions UK

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Help shape the future of pensions policy.

We’re looking for a credible, influential leader to chair our Policy Board, guiding Pensions UK’s policy agenda, leading debate across our diverse membership and acting as a key voice with government and industry.

This is a high-profile policy leadership role with real impact across the UK pensions landscape as we make Pensions UK and our members 2030 Ready.

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Pension Scheme Governance Specialist

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63,089.00 Per Annum

Brighton: Hybrid (6 days per month in the office)

Permanent

The Pension Scheme Governance Specialist role supports the effectiveness of the Trusteeship, Administration, and Defined Benefits Supervision (TADBS) team within the Market Oversight directorate.

This role is pivotal in overseeing the requirements for schemes and professional trustee firms to demonstrate appropriately scaled, robust, and effective governance frameworks, ensuring that they operate with integrity, transparency, and in the best interests of scheme members.

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Senior Pensions Manager, In-House

Posted by Sammons Pensions Recruitment

Comprehensive benefits & bonus

Hybrid/London 3 days a week city-based

Progressive career move with the in-house team of this major financial services organisation.

To discuss this role in confidence please call Sarah Bergin-McCarthy on 020 7293 7022 or email sbm@sammons.co.uk. please quote reference 81614.

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