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TPR outlines plans to 'step up' pension scam defences


By Sophie Smith

The Pensions Regulator (TPR) has outlined plans to strengthen its defences against pension scams, by stepping up the multi-agency response it leads through closer collaboration, strategic partnerships and improved intelligence.

In particular, Sweeney shared an update on the regulator's recent efforts to enhance the national intelligence picture, including strategic partnerships with "critical" agencies


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Pension professionals back govt’s DB surplus extraction plans

The majority (71 per cent) of trustees, employers, and pension managers support the government’s intentions to allow defined benefit (DB) schemes to extract surplus, a poll from XPS Group has revealed

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Isio acquires K3 Advisory

Isio has confirmed that it has now completed its acquisition of the insurance and risk settlement specialist, K3 Advisory Limited, having received regulatory approval

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FRC consults on updated UK Stewardship Code

The Financial Reporting Council (FRC) has launched a consultation on proposed revisions to the UK Stewardship Code, including changes to amend the definition of stewardship and reduce industry reporting requirements

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Experts call for faster govt action on social care reform

The government should act more quickly to reform social care in order to mitigate negative social and economic impacts of an ageing society, to help older people work for longer if they wish, and save more for retirement, health and local government experts have said

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Bank of England cuts base rate to 4.5%

The Bank of England (BoE) has cut interest rates from 4.75 per cent to 4.5 per cent, marking the third cut since the bank started to bring interest rates down from a peak of 5.25 per cent last August

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News in brief - 7 February 2025

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

Check out our latest news

This week in pensions: 3-7 February 2025

Pensions Age takes a look back at the top stories of the week, including industry updates from The People’s Pension, updates in the defined benefit (DB) space, and investment news
Pensions industry could save members 'millions' in private market fees, report finds

The UK workplace pension industry could have the opportunity to save "hundreds of millions of pounds" for savers when it comes to investing in private markets, a report from The People’s Pension has suggested
Updated: Sustainability Principles Charter signatories back 'landmark' collaborative survey

All signatories to the Sustainability Principles Charter for the bulk annuity process have agreed to adopt the Bulk Annuity Sustainability Survey (Bass), replacing the multiple different surveys currently used by different advisers
DB funding improvements continue but trade war 'turbulence' expected

Defined benefit (DB) pension schemes continued to improve their funding levels at the start of 2025, according to the Broadstone Sirius Index, but turbulence is expected to come with a global trade war "simmering"

K3 Advisory reveals five small scheme buy-ins completed by Just in 2024

K3 Advisory, in partnership with Cartwright, has announced the completion of five small scheme buy-ins, with all five transactions insured by Just Group
Almost half of young savers have ‘never heard’ of defined contribution

Almost half (48 per cent) of 18-30-year-olds have “never heard” of defined contribution (DC) pensions, despite 66 per cent considering their long-term financial aspirations achievable, a report from MRM has revealed


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Highlighted Content

Trustees Guide 2025

Pensions Age covers many of the key topics that Trustees will be looking at in the year ahead

Rethinking value

What UK pensions can learn from Australia’s Net Benefit approach

Real assets focus: The opportunities for DC schemes

We discuss how a strategic exposure to liquid real assets can be a useful component in a DC default investment strategy, providing not only further diversification but also long-term protection in different inflation environments

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Five years after Brexit: Impact, opportunities, and challenges for the pensions industry

In the five years since Brexit, UK pension law has remained broadly aligned with EU rules. However, we could see small moves towards divergence in the future

Fighting the good fight

Pension Scams Industry Group (PSIG) chair, Margaret Snowdon, sits down with Sophie Smith to discuss the future of the organisation, and the latest in the fight for fairer treatment for pension and investment fraud victims

New power dynamics

The empowering and evolving relationship between trustees and consultants

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High yields and middling expectations

Gilts have long been a mainstay of pension investment strategy. But since the crisis in 2022, have attitudes shifted? We take a look at the current state of play for this traditionally solid asset class

Pensions dashboards near the end of the beginning

It has taken almost a decade to build the pensions dashboard. But the first deadlines for connection are now just months away

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Pensions on divorce – the importance of actuarial expertise

David Gordon explains the role an actuary can play when determining

how pension benefits should be shared following a divorce

LGPS pooling reforms: Too much too soon?

The government’s proposal to further consolidate LGPS assets has sparked debate about the potential benefits and drawbacks, as well as the feasibility of the timeline for implementing the changes

From awareness to action: PEG’s journey towards pensions equity

As part of our year-long special focus on diversity, equity and inclusion (DEI), Pensions Age speaks to Pensions Equity Group co-chair of communications and awareness, Molly Handley, about its mission to achieve equitable pension outcomes in the UK

Brightening up your admin

In July last year, the EDF Group (EDFG) of the Electricity Supply Pension Scheme transferred pensions administration services to Trafalgar House. Pensions Age sat down with EDF pensions liaison manager, Clive Pothecary, and Trafalgar House client director, Daniel Taylor, to find out what made the transition a success

A super step forward for DB

In a ground-breaking superfund transaction – the first involving an active, profitable sponsor – 1,500 defined benefit (DB) members of the Wates Group Pension Fund have transferred to the Clara superfund. Wates Group chief financial officer, Philip Wainwright, and Clara Pensions

chief transactions officer, Matt Wilmington, explain what this means for those members and the implications on the wider DB space

AI says hi

As the use of various artificial intelligence (AI) technologies becomes more widespread, some pension schemes are using it to improve member communications. David Adams looks

at the benefits this can bring – and the risks that need to be mitigated to safeguard members and schemes

Employer covenant: A new dawn

Market shifts, including increased funding levels and new regulations, are prompting DB schemes to reassess the role of the employer covenant in their endgame strategies

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Being retirement ready
Gavin Lewis, Head of UK and Ireland Institutional at BlackRock, talks to Francesca Fabrizi about the BlackRock 2024 UK Read on Retirement report, 'Ready or not. How are we feeling about retirement?’

Time for CDI
Laura Blows speaks to AXA Investment Managers (AXA IM) senior portfolio manager for fixed income, Rob Price, about cashflow-driven investing (CDI) in Pensions Age’s latest video interview

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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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