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


By Callum Conway

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.

The comments were made in response to the Department for Work and Pensions’ (DWP) Discussion paper on key elements of the Scale Policy, which closes on 7 September


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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

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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

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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

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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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Parents funding private school fees at expense of pensions and investments

Parents are increasingly sacrificing their pensions and investments to pay for their children’s private school fees, a report from Rathbones has found

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Pensions professionals expect over 2,000 private DB schemes to remain in 2035

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Sponsors are sole beneficiaries of DB surplus in around half of cases

Pension scheme sponsors were the sole beneficiaries of defined benefit (DB) scheme surplus in around half of reported cases, according to analysis from LCP
News in brief - 4 September 2026

The latest news in brief and mandates from the past seven days


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CDC in the UK pensions market
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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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