Latest News
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South East Water Pension Scheme completes £120m buy-in with Just Group
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'Robust' processes and protocols needed to mitigate against AI risks, PLSA warns
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Savers increase contributions by 19% in 2024; gender gap widens
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Sole trustees ‘embrace’ General Code as an opportunity to innovate
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Scoop: LGPS reappoints Equiniti Retirement Solutions as administration software supplier
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FCA concludes targeted support policy sprint
Archive News
Sole trustees have embraced The Pension Regulator's General Code, using it to innovate their in-house governance approaches and ensure they can be held to the highest account for governance, according to a survey by Hymans Robertson
Posted: 14/04/2025
The Financial Conduct Authority (FCA) has concluded its six-week policy sprint, which aimed to support new ways to help consumers make important investment decisions as part of the regulator's work on targeted support
Posted: 14/4/25
Physical risk as a result of rising temperatures is the most serious threat to asset performance, Ortec Finance has said, after its research showed that even most ambitious scenario does not anticipate the world reaching net zero until mid-2050
Posted: 14/4/25
Equiniti Retirement Solutions (EQ) has been reappointed as an eligible supplier on the National Local Government Pension Scheme (LGPS) framework for pension administration software for a further four years
Posted: 14/04/2025
Artificial intelligence (AI) is already reducing costs, improving efficiencies and revolutionising member communications, although risks must be managed to prevent saver detriment, the Pensions and Lifetime Savings Association (PLSA) has warned
Posted: 14/4/25
The Pension Protection Fund (PPF) has announced the appointment of several firms to its trustee services panel and restructuring and pre-insolvency services (RPIS) framework following the outcome of its recent procurement
Posted: 14/04/2025
Savers contributed, on average, £285 (19 per cent) more to their pensions in 2024 compared to 2023, according to analysis by PensionBee
Posted: 14/04/25
The South East Water Pension Scheme has completed a £120m buy-in with Just Group, securing the benefits of around 700 pensioner and dependent members and almost 300 deferred members.
This included a number of member benefits that were complex to insure, such as non-standard pension increases and member options
This included a number of member benefits that were complex to insure, such as non-standard pension increases and member options
Posted: 14/4/25
Pensions Age looks back on the key developments from the pensions industry this week, including defined benefit (DB) funding updates, research on the use of artificial intelligence (AI) and environmental progress
Posted: 11/04/2025
The Pensions Regulator (TPR) has shared a series of short films highlighting the difference pensions dashboards could make to savers as part of its campaign to get the pensions industry dashboard ready
Posted: 11/4/25
The latest news in brief and mandates from the past seven days
Posted: 11/04/2025
Recent defined benefit (DB) pension funding improvements should not mask the fact that schemes are facing challenges, including uncertainties caused by recent market volatility and concerns over data ahead of the rollout of pension dashboards, PwC has said
Posted: 11/4/25
UK employers have been urged to ensure that staff who are in net-pay arrangement pension schemes are aware that they could be eligible for extra money from the government, amid concerns that most people will not claim their money
Posted: 11/4/25
Chancellor, Rachel Reeves, has confirmed the reappointment of Nikhil Rathi as Financial Conduct Authority (FCA) chief executive
Posted: 11/4/25
The Pensions Regulator (TPR) has said that small defined contribution (DC) schemes that do not take appropriate action to protect savers’ retirements from climate risk should think about quitting the market
Posted: 10/4/25
Legal and General Assurance Society Limited (L&G) has insured more than £800m of pension liabilities using L&G Flow, its tailored solution for smaller pension schemes
Posted: 10/04/2025
The government should consider a number of "urgent" pension reforms as part of its ongoing pension review, the UK Sustainable Investment and Finance Association (UKSIF) has said, arguing that "decisive" steps are needed to tackle current investment barriers
Posted: 10/4/25
The Pensions Regulator (TPR) has made two appointments to senior roles as it looks to "bolster" expertise in areas such as asset management and investment
Posted: 10/4/25
Compensation for a typical defined benefit (DB) pension transfer redress case continued to fall through Q1 2025, although these downward movements may be 'wiped out' by recent market volatility unless changes are seen, Broadstone's DB redress tracker has revealed
Posted: 10/04/2025
Charities have been urged to review their defined benefit (DB) pension arrangements and endgame planning, after analysis from Spence & Partners revealed that funding levels for DB schemes in the charity sector have reached an average of 100 per cent on an FRS102 basis
Posted: 10/04/2025
Celebrating excellence within the Irish pensions industry for another year, European Pensions' annual Irish Pensions Awards is now open to entries for Irish pension funds and providers, with an entry deadline of 11 July 2025
Posted: 10/4/25
The government has announced plans to amend primary legislation to separate pension fund accounts from administering authority (AA) main accounts, as part of its efforts to "fix the broken local audit system"
Posted:
Pension scheme trustees should "double down" on cyber security efforts to ensure the protection of data, assets, and members, RSM UK partner, Stuart Leach, has said
Posted: 09/04/2025
Scottish Friendly has announced plans to acquire the pension and annuity in payment books of business from Fidelity International, subject to regulatory approval
Posted: 09/04/2025
The Pensions Scams Action Group (PSAG) has upped its efforts to uncover fraudulent websites, using machine-learning technology and algorithms trained with real-world data to build predictive models that can detect scam websites
Posted: 9/4/25
The 10 largest professional trustee firms are now responsible for £1trn of pension scheme assets, Isio's 2025 professional independent trustee survey has revealed.
Isio's survey revealed that these 10 firms now manage over 2,400 pension schemes, representing almost half (43 per cent) of UK defined benefit (DB) pension schemes
Isio's survey revealed that these 10 firms now manage over 2,400 pension schemes, representing almost half (43 per cent) of UK defined benefit (DB) pension schemes
Posted: 09/04/2025
The wait is over, as the agenda for the Pensions Age Spring Conference, taking place in London on Thursday 24 April 2025, has now been confirmed
Posted: 9/4/25
Unparalleled levels of competition in the buy-in market coupled with upcoming government policy could "re-write the landscape" the defined benefit (DB) pension landscape and increase the number of investment opportunities for schemes, according to LCP
Posted: 09/04/2025
The shortlist for the 2025 European Pensions Awards has now been revealed ahead of the highly anticipated gala dinner on 3 July 2025
Posted: 8/4/25
The Pensions and Lifetime Savings Association (PLSA) has announced that it will focus its work programme on adequacy, pension fund consolidation, and various investment-related issues as it looks to help maximise saver outcomes
Posted: 08/04/2025
Over two-thirds (67 per cent) of employed UK adults with a workplace pension wish they had been taught about pensions earlier in life, research from My Pension Expert has revealed
Posted: 08/04/25
The government could "unlock" billions of pounds from UK pensions, Hymans Robertson has said, with its research showing that a package of pension reforms could provide a £28.5bn annual boost for the Treasury, while employers could benefit by up to £14.2bn a year
Posted: 8/4/25
The majority (88 per cent) of potential buyers prioritise saving for a house deposit over saving for a pension, a survey from Share to Buy has revealed
Posted: 08/04/2025
The London Pensions Fund Authority (LPFA) has pledged to invest around £250m, or 3 per cent, of its £8bn fund value in environmental solutions assets, to support its net-zero ambitions
Posted: 08/04/25
The Skipton Building Society Group Pension Scheme has completed a £105m full scheme buy-in with Rothesay in January 2025, securing the benefits of all 705 scheme members, including 396 pensioners and dependents and 309 deferred members
Posted: 08/04/2025
The aggregate surplus of defined benefit (DB) pension schemes fell £17.2bn to £215.5bn as at the end of March 2025, the Pension Protection Fund’s (PPF) 7800 Index has revealed
Posted: 8/4/25
Global insurance and employee benefits intermediary group Howden has completed its acquisition of Barnett Waddingham, creating one of the largest pensions and employee benefits firms in the UK
Posted: 7/4/25
Clara Pensions has announced plans to launch a new private markets investment vehicle, confirming that it expects to invest 30-35 per cent of Clara's assets into private markets as the superfund grows.
The Clara Private Markets Vehicle was created in conjunction with Van Lanschot Kempen Group, who will manage the fund, and is expected to be registered soon
The Clara Private Markets Vehicle was created in conjunction with Van Lanschot Kempen Group, who will manage the fund, and is expected to be registered soon
Posted: 7/4/25
More than four in 10 (42 per cent) individuals with a state pension age (SPA) between 66 and 67 know their SPA correctly within three months, research from the Institute for Fiscal Studies (IFS) revealed, suggesting "significant" knowledge gaps among those approaching retirement
Posted: 07/04/25
The voices of trustees, who control the majority of workplace pension money in the UK, are 'rarely heard' in the corridors of power, a report from LCP has warned
Posted: 07/04/2025
The government has launched a consultation on plans to amend the regulations applying to alternative investment funds in order to make it simpler and cheaper for most asset managers to do business in the UK
Posted: 7/4/25
Nearly half (45 per cent) of over-65s either don't full trust artificial intelligence (AI) or don't trust it at all to provide accurate financial guidance, research from PensionBee has revealed
Posted: 7/4/25
Pensions Minister, Torsten Bell, has urged the pensions industry to focus on delivering value and consistent returns for savers, suggesting that there is now "actually a pretty big consensus" on what is needed in the pensions space over the next ten years
Posted: 4/4/25
Many savers are still not accessing advice on pensions ten years after the government implemented the ‘freedom and choice’ reforms, which allowed people to access their pensions with greater flexibility, the Institute and Faculty of Actuaries (IFoA) has revealed
Posted: 04/04/2025
Pensions Age looks back on the key developments from the pensions industry this week, including several key updates from The Pensions Regulator (TPR), Financial Conduct Authority (FCA) and the Pension Protection Fund (PPF)
Posted: 04/04/25
The latest news in brief and mandates from the past seven days
Posted: 04/04/2025
Pension scheme trustees will need to navigate "significant" market volatility following US President Donald Trump's tariffs, Broadstone has said, after its analysis revealed that half and fully hedged defined benefit (DB) schemes experienced contrasting fortunes in March
Posted: 4/4/25
Pension investors should remain calm despite market turbulence caused by US President, Donald Trump's tariffs, Hargreaves Lansdown head of retirement analysis, Helen Morrissey, has said
Posted: 03/04/25
The Pensions Regulator (TPR) has urged small defined contribution (DC) schemes that are failing to compete with better-governed larger ones to consider winding up, after it revealed that a growing number of small schemes have been hit with fines for poor governance
Posted: 3/4/25
Aberdeen has announced that £3bn of pension scheme policies have transferred from Phoenix Life Limited to abrdn Life and Pensions Limited (abrdn Life)
Posted: 03/04/2025
Six in 10 (60 per cent) defined benefit (DB) pension members fear the government’s plans to allow employers to extract surplus cash from their schemes would create risks for them and other members, research from Pensions Insurance Corporation (PIC) has found
Posted: 03/04/25
Corporate sponsors could face "significant" costs if they don’t consider their risk appetite before engaging with insurers as they plan a buyout and wind up of their defined benefit (DB) pension scheme, Hymans Robertson has warned in its latest paper
Posted: 3/4/25
The government has been urged to consider supporting a new programme to increase opportunities for investing in venture and growth capital funds, in order to help encourage UK defined contribution (DC) pension schemes to invest in private capital
Posted: 3/4/25
The Pension Protection Fund (PPF) has said the “time is right” to review several key areas of its governing legislation, recognising that stakeholders want to see progress on the legislation governing its levy and the levels of indexation it pays
Posted: 03/04/25
Industry experts, including professional trustee firms and associations, have been quick to welcome the news that The Pensions Regulator (TPR) is planning to extend its oversight to include professional trustee firms
Posted: 2/4/25
The Pensions Regulator (TPR) has announced that it will extend its oversight to include professional trustee firms as part of its move to a more prudential style of regulation
Posted: 2/4/25
The ongoing review of the financial ombudsman service (FOS), along with broader attempts to lighten the regulatory load, offers a "significant" opportunity to rebalance the relationship between consumers and advisers in pension redress cases, First Actuarial has argued
Posted: 2/4/25
The market value of private sector defined benefit and hybrid (DBH) pension schemes fell by 1 per cent between 31 March and 30 September 2024, despite an increase in asset values, data from the Office for National Statistics (ONS) has revealed
Posted: 2/4/25
The Financial Conduct Authority (FCA) has granted approval for Aegon UK to launch the final two of its long-term asset funds (LTAFs), following the approval of the first fund last month
Posted: 2/4/25
The government has been urged to provide a greater safety net for defined benefit (DB) pension schemes through the Pension Protection Fund (PPF), in order to encourage investment and spur economic growth
Posted: 2/4/25
Over half (60 per cent) of UK adults are not confident they will have saved the £500,000 needed for a moderate retirement standard of living, research by St. James’s Place has suggested, indicating that many are "severely" underestimating how much they need to save
Posted: 2/04/25
The 'divorce gap' – when women see their household income cut after a divorce – can leave them financially worse off in retirement, according to research from Legal and General (L&G)
Posted: 2/4/25
The UK bulk purchase annuity (BPA) market 'surged' last year, following a record number of transactions, according to Aon's UK Risk Settlement market update
Posted: 01/04/2025
“Significant” improvements in defined benefit (DB) pension scheme funding levels have seen DB trustees prioritise managing illiquid assets, with 64 per cent considering a sponsor loan, Standard Life’s DB Trustee Insights Index has revealed
Posted: 1/04/25
The government has been encouraged to consider taking “urgent measures” to help savers avoid missed opportunities, after it announced a delay in the production of NHS pension remedial service statements
Posted: 1/4/25
Reforms are needed to make the pension system easier to navigate, the Institute for Fiscal Studies (IFS) has said, warning that the number of people making complex and consequential decisions about their pension wealth in retirement is rising "substantially"
Posted: 1/4/25
Whilst artificial intelligence (AI) is beginning to play an important role in pensions administration, its adoption by individual pension scheme members remains limited, according to the Trafalgar House Trust & Confidence Index
Posted: 01/04/2025
Less than two thirds (60 per cent) of professional investors feel they are either fully or almost fully financially prepared to help their clients in living for longer in retirement, research by Fidelity International has revealed
Posted: 1/04/25
The Pensions Regulator (TPR) has written to the government to outline the work it is doing to support the push for UK growth, including plans to "significantly" boost business confidence, improve the investment climate, and foster sustainable economic growth
Posted: 31/3/25
A local government pension scheme (LGPS) fund and the Parliamentary Contributory Pension Scheme have made a cornerstone investment in the Newcore Social Infrastructure Income Fund (NSIIF)
Posted: 31/03/2025
Financial Conduct Authority (FCA) chief executive, Nikhil Rathi, has said the idea that targeted support will not be optimised for every saver is a "necessary trade-off" to improve outcomes, confirming that the FCA is now running a policy sprint to test the plans
Posted: 31/3/25
The Englass Pension Scheme has agreed to a £12m full scheme buy-in with Just Group, insuring the benefits of all 100 scheme members
Posted: 31/03/25
Savers continued to face "unnecessary" delays when transferring their pensions, with some transfers taking over two months to complete, PensionBee analysis has revealed
Posted: 31/01/2025
Lloyds Banking Group Pensions Trustees Limited has entered into two longevity insurance and reinsurance arrangements, covering a combined £5.1bn of liabilities
Posted: 31/3/25
The government has been urged to launch the second phase of its pension review "sooner rather than later", amid concerns that, despite the success of auto-enrolment (AE), many are still not saving enough, with some groups at risk of being "left behind" completely
Posted: 28/3/25
Pensions Age looks back on the key developments from the pensions industry this week, including the lack of pension news in the Spring Statement and the latest debates from industry events
Posted: 28/3/25
The latest news in brief and mandates from the past seven days
Posted: 28/03/2025
The pension industry shouldn’t wait for regulations to be in place before adopting artificial intelligence (AI), Co-Labs Global strategic adviser, Annabel Gillard, has suggested
Posted: 28/03/25
Pension professionals have said that the second phase of the pensions review is a “once in a generation opportunity” for the industry to have its voice heard by the UK government
Posted: 28/03/25
The Clark & Butcher Limited Pension Scheme has agreed a £2m full scheme buy-in with Just Group, securing the benefits of 15 pensioners and 8 deferred members
Posted: 28/3/25
Pensioners' average weekly income after housing costs (AHC) fell from £410 in 2022/23 to £407 in 2023/24, analysis from HMRC has revealed, marking the lowest level seen since before the pandemic
Posted: 27/3/25
The Pensions Regulator (TPR) director of data services, Lisa Allen, discusses the need for every trustee to view data quality as a priority ahead of the upcoming pensions dashboards connection deadlines
Posted: 27/3/25
Three quarters of schemes have adopted net-zero targets, with more schemes than ever taking action to address climate risks, XPS analysis has revealed
Posted: 27/03/2025
Competition in the bulk purchase annuity (BPA) market reached a new high in 2024, with six insurers writing over £5bn in deals for the first time, analysis from LCP has revealed
Posted: 27/3/25
Scottish Widows has announced the launch of a Lifetime Investment default fund as part of its pension investment approaches (PIA)
Posted: 27/03/2025
Origo Dashboard Connector is the latest pensions dashboards participant to successfully complete the programme's integration testing, marking a "significant milestone" on the provider's journey to connect to the government's architecture
Posted: 27/3/25
Chancellor, Rachel Reeves, has delivered her Spring Statement, with no significant changes announced in relation to pension policy or pension tax reliefs
Posted: 26/3/25
The Pensions Regulator (TPR) has shared its diversity pay gap report, which showed that whilst the mean and median gender pay gaps are below 10 per cent, work is still needed for the regulator to reach its "ambitious" gender pay gap target of 2 per cent
Posted: 26/3/25
The Pensions Ombudsman (TPO) has upheld a complaint against the Ministry of Justice (MoJ) for providing inaccurate fee-paid judicial pension scheme (FPJPS) records and "significantly" delaying their correction
Posted: 26/03/2025
The fall in inflation seen in February could be “good news” for reducing pension schemes' liability values, XPS Group has said
Posted: 26/03/25
The majority (87 per cent) of defined contribution (DC) pension savers are in schemes that invest in at least one productive asset class, research from The Pensions Regulator (TPR) has revealed
Posted: 26/3/25
The Financial Conduct Authority (FCA) has launched its five-year strategy, with a specific focus on improving consumer protection and enhancing financial support for savers
Posted: 25/03/25
The introduction of pensions dashboards will present a "great opportunity" for fraudsters, Target Professional Services director, Lisa Lyon, has warned
Posted: 25/03/2025
The majority (55 per cent) of pension administrators believe a new value for money (VfM) framework would require a "large effort for no/little improvement for employers and members," according to a poll from the Pensions Administration Standards Association (PASA) conference
Posted: 25/03/2025
Policy uncertainty and regulatory hurdles are preventing UK pension funds from investing more into UK productive assets, the Local Government Pension Scheme (LGPS) pool Border to Coast Pensions Partnership has warned
Posted: 25/03/25
The Pensions Regulator (TPR) interim director of supervision, David Walmsley, has urged pension schemes to "embrace" innovation and the data revolution
Posted: 25/03/2025
Global insurance and employee benefits intermediary group Howden has announced plans to acquire Barnett Waddingham for an undisclosed amount
Posted: 25/3/25
Defined benefit (DB) pension schemes that enable members to view their illustrative transfer value on a scheme website have consistently higher transfer take-up rates, analysis from LCP has revealed
Posted: 25/3/25
The Department for Work and Pensions (DWP) has said that it is expecting to resolve all remaining state pension underpayment cases by the end of March 2027, with further updates to be shared as part of the government’s ‘Spring Forecast’ later this week (26 March)
Posted: 24/3/25
Around one in eight (12 per cent) people intending to purchase an annuity would not consider switching from their existing pension provider to another supplier, even if they could potentially gain additional retirement income, research from Canada Life has revealed
Posted: 24/3/25
Nearly three quarters (71 per cent) financial advisers are concerned about pensions being brought into scope of inheritance tax (IHT) from 2027, research from Quilter has found
Posted: 24/3/25
Less than two fifths (39 per cent) of UK adults aged 50 and over took advice from a financial adviser before taking money out of their pension, research from Royal London has revealed
Posted: 24/3/25
Many pension providers are still relying on outdated technology, with nearly half (41 per cent) still posting out letters, despite UK workplace pension savers wanting better digital tools to connect with their pensions, research from Bravura has revealed
Posted: 24/3/25
Defined benefit (DB) pension transfer activity fell to a record low in February 2025, according to XPS Group's Transfer Activity Index, which the group highlighted as evidence of increasing member caution over retirement arrangements
Posted: 24/3/25
A total of 299 defined benefit (DB) pension scheme buy-ins were completed in 2024, marking the largest ever number of transactions completed in a single year, analysis from Hymans Robertson has confirmed
Posted: 21/3/25
Teachers prioritise immediate salary increases over retirement benefits, with some willing to miss out on as much as 20 per cent of their retirement income in favour of a 10 per cent salary boost, research from the Education Policy Institute (EPI) has found
Posted: 21/3/25
The trustees of the Aga Rangemaster Group Pension Scheme have awarded Schroders Solutions a £740m fiduciary management mandate, following an open and competitive tender process
Posted: 21/03/2025
The latest news in brief and mandates from the past seven days
Posted: 21/3/25
Fragmentation in stewardship approaches and misalignment between asset owners and managers is creating inconsistencies in engagement and voting strategies, a report from Pensions for Purpose has suggested
Posted: 21/3/25
More than two-thirds (69 per cent) of employers in the UK now offer a responsibly invested company pension, but less than half (44 per cent) have it as their default option, research from Scottish Widows has revealed
Posted: 21/03/2025
Pensions Age takes a look back at the top stories of the week, including updates from The Pensions Ombudsman (TPO), developments in the defined benefit pension landscape, and more
Posted: 21/03/2025
The BT Pension Scheme has completed two longevity reinsurance transactions, one with Swiss Re and the other with Reinsurance Group of America (RGA), totalling £10bn
Posted: 21/3/25
Younger defined contribution (DC) pension scheme members, around 30 years from retirement, have benefited from their higher exposure to equity markets over the past year, Hymans Robertson’s DC Provider Report has suggested
Posted: 20/03/25
The projected life expectancy for a typical UK pensioner has fallen by around nine months for men and seven months for women compared to pre-pandemic models, equating to a 2 per cent reduction in liabilities for a typical pension scheme, analysis from Aon has revealed
Posted: 20/03/2025
Many defined benefit (DB) pension schemes are reconsidering their endgame plans in light of improved funding levels and potential changes to how pension surpluses can be used, a survey of Pensions and Lifetime Savings Association (PLSA) members has found
Posted: 20/3/25
The majority (84 per cent) of those who have accessed their retirement savings since the introduction of pension freedoms in April 2015 said they have benefited from taking money from their pension, research from Standard Life has revealed
Posted: 20/03/25
Anglo American Services (UK) has completed a £785m combined buy-in with Legal & General Assurance Society (L&G) for three of its defined benefit (DB) schemes: The Tarmac UK Pension Scheme, the Tarmac ‘B’ Pension Scheme and the Anglo UK Pension Scheme
Posted: 20/03/2025
Landscape architecture firm Novell Tullett has appointed HS Trustees and Temple Bright to complete the wind up of its Landscape Scheme
Posted: 20/3/25
Criminal proceedings against former company director, Nicholas Marks, have been dismissed after it was confirmed that he had passed away
Posted: 19/3/25
The trustees of the Armfield pension scheme have approved commencement of the winding up of the scheme, with this process expected to take 12-18 months, Judges Scientific Plc has confirmed
Posted: 19/3/25
The Pensions Ombudsman (TPO) has upheld a complaint against the South Wales Fire & Rescue Authority and Rhondda Cynon Taff County Borough Council for maladministration
Posted: 19/03/25
Almost seven million pension pots have been accessed for the first time since the introduction of freedom and choice in April 2015, estimates from AJ Bell have suggested, with drawdown now the most popular option amongst those with pension pots of £30,000 or more
Posted: 19/3/25
The vast majority (93 per cent) of financial decision makers in the UK believe that their company’s pension scheme is posing a risk to their business’s balance sheet, despite the fact that 86 per cent of DB schemes currently have a surplus, research from LawDeb has revealed
Posted:
The expected future living standard in retirement provided by defined contribution (DC) savings rose in Q4 2024, due to strong benchmark investment returns and an increase in expected return assumptions post-retirement, Aon’s UK DC pension tracker has revealed
Posted: 19/03/2025
The Financial Conduct Authority (FCA) has granted approval for Aegon Asset Management to launch the Carne Group Aegon Asset Management private credit Long-Term Asset Fund (LTAF), with Carne Group acting as the authorised corporate director of the fund
Posted: 19/03/25
The Pensions Ombudsman (TPO) has upheld a complaint against the DXC and DXC Pension Trustee Limited for the non-financial injustice an employee had suffered for the delay in completing the Internal Dispute Resolution Procedure (IDRP)
Posted: 18/03/25
The Church of Scotland Pension Trustees has completed a £75m multi-scheme buy-in with Just Group, insuring the benefits of 1,500 pensioner and dependant members and 850 deferred members
Posted: 18/03/2025
More than three quarters (76 per cent) of employers offer alternative cash benefits to high earners in lieu of pension contributions, although many are expected to reduce the cash value on offer due to rising upcoming costs, research from WTW has found
Posted: 18/3/25
The Pensions Regulator (TPR) has pledged to reduce unnecessary regulatory burdens and improve data sharing, as part of the government's broader plans to cut the administrative cost of regulation on business and drive economic growth
Posted: 18/3/25
The average time to buyout for FTSE350 defined benefit (DB) pension schemes continued to fall to 4.4 years at the end of February, analysis from Barnett Waddingham has revealed
Posted: 17/03/25
The pensions industry should avoid being 'too clever' when it comes to discussions around delivering good member outcomes, industry experts have said, suggesting that an income for life is needed to give members more confidence in retirement
Posted: 17/3/25
UK pension funds are not taking "anywhere near enough risk", particularly given efforts to reach net zero, National Wealth Fund head of banking and investment, Ian Brown, has said, emphasising the need for more investment in key UK assets
Posted: 17/3/25
Marshalls, a manufacturer of sustainable solutions for the built environment, has reported an improved surplus of £24.1m for its defined benefit (DB) pension scheme in 2024, up from £11m in 2023
Posted: 17/03/25
Employers have again been encouraged to maximise their pension contributions via salary sacrifice to help balance the additional costs they are set to face as a result of the increase in employer National Insurance contributions (NIC)
Posted: 17/3/25
The majority (87 per cent) of pension professionals confirmed that their firm is using artificial intelligence (AI), a survey by the Society of Pension Professionals (SPP) has revealed, indicating a widespread adoption of AI within the UK pensions industry
Posted: 17/03/25
The Pensions Ombudsman (TPO) has upheld a complaint against The Alliance Automotive Group for failing to pay contributions into a worker's pension despite deducting contributions from his pay
Posted: 17/03/2025
Just over half (53 per cent) of UK savers would prefer their pension money be invested in the UK, research from the Pensions and Lifetime Savings Association (PLSA) has revealed
Posted: 14/3/25
BESTrustees chair, Ann Rigby, discusses the importance of equality, diversity, and inclusion on pension trustee boards and how it might affect governance
Posted: 14/3/25
Industry experts at the Pensions and Lifetime Savings Association (PLSA) Investment Conference 2025 have suggested that defined benefit (DB) regulation must evolve to avoid being misaligned with the government's growth agenda
Posted: 14/3/25
Pensions Age takes a look back at the top stories of the week, including updates from Pension Minister, Torsten Bell, news from the Pensions and Lifetime Savings Association (PLSA) Investment Conference, and more
Posted: 14/03/25
The latest news in brief and mandates from the past seven days
Posted: 14/03/2025
The interpretation of fiduciary duty must change to mean more than just money and include looking after the environment and society as well, climate researcher and author, Mike Berners-Lee, has said
Posted: 13/03/25
The UK is witnessing a “slow-motion train crash” for financial security in retirement, J.P. Morgan chief market strategist, Karen Ward, has suggested
Posted: 13/03/2025
The Fuller’s Defined Benefit (DB) Pension Plan has secured a full buy-in with Legal & General (L&G), following recent funding improvements
Posted: 13/1/25
Annuity rates for a healthy 65 year old have increased by around 8 per cent over the past 12 months, according to the Standard Life Annuity Rates Tracker
Posted: 13/3/25
The Pension Protection Fund (PPF) has made further progress against its diversity targets, its latest Diversity Pay Gap report has revealed
Posted: 13/3/25
Targeted support will help a large majority of savers and nudge them towards better solutions, but could be “detrimental” for a minority, Age UK head of policy, Christopher Brooks, has warned
Posted: 13/03/25
HM Treasury head of pensions investment review, Joanne Gibson, has announced that the government is planning to share a roadmap to show how upcoming pension reforms and policy changes will fit together
Posted: 13/3/25
Pension fund and investment managers should rethink their strategies to ensure better and more resilient outcomes aligned with long-term goals, industry experts at the Pensions and Lifetime Savings Association (PLSA) Investment Conference 2025 have suggested
Posted: 13/03/25
Just over two thirds (67 per cent) of pension professionals think there will be less than 40 Local Government Pension Scheme (LGPS) funds in England and Wales by 2035, although industry experts have suggested that further clarity is needed on the objectives of this consolidation
Posted: 13/2/25
The Pensions and Lifetime Savings Association (PLSA) has updated its Vote Reporting Template to help asset owners, investment managers and platform providers disclose how they enact their shareholder rights
Posted: 13/3/25
Climate considerations are becoming more material for asset owners, with a growing emphasis on climate-related risks and accountability, according to Morningstar Sustainalytics head of sustainable investing research, Hortense Bioy
Posted: 13/03/25
A 'fear of finding out' (FOFO) prevents pension schemes from initiating class action cases related to their investments, Robbins Geller Rudman and Dowd senior advisor, Melissa McDonald, has said
Posted: 25/03/2025
It is in the pension industry’s interest to get the adoption of the new industry shareholder Vote Reporting Template “done, and quickly”, Financial Conduct Authority (FCA), director of sustainable finance, Sacha Sadan, has argued
Posted: 12/03/25
Current climate risk assessments on pension investments “may not be credible,” according to British Business Bank chief investment officer, Leandros Kalisperas
Posted: 12/03/2025
There has been “excellent” growth in the private equity secondary market, Lexington Partners managing director, Philip Smelt, has suggested
Posted: 12/03/25
Buyout is still the most popular endgame strategy for defined benefit (DB) schemes, according to a poll conducted at the Pensions and Lifetime Savers Association Investment Conference (PLSA) 2025
Posted: 12/03/2025
Dashboards could offer "the solution" to a lack of engagement with pensions, independent pensions consultant, Richard Smith, according to independent pensions consultant, Richard Smith
Posted: 12/03/2025
Climate protestors were once again at the Pensions and Lifetime Savings Association (PLSA) Investment Conference in Edinburgh, urging delegates to update risk assessment methodologies amid concerns that many are relying on “flawed” climate risk advice
Posted: 12/3/25
Changes in legislation are needed to ‘unlock’ defined benefit (DB) schemes’ surpluses that could generate £400bn of capital over the next 10 years, analysis by Hymans Robertson has found
Posted: 12/3/25
Endgame strategy and planning remain a top priority for defined benefit (DB) pension schemes amid continued strong funding levels, according to LCP
Posted: 12/3/25
Pensions Minister, Torsten Bell, has seemingly ruled out the idea of a long-term savings commission as a way of building consensus, suggesting that those who think this is the best approach are "living in la la land" given shifts in the political landscape in Britain
Posted: 12/3/25
Pensions Minister, Torsten Bell, has confirmed that he intends to lay the Pensions Bill in parliament before summer recess, with the final report on the Pension Investment Review to be finalised in “the coming weeks”.
The minister confirmed that the government will also provide an update on the timings and detail for phase 2 of the review in the final report
The minister confirmed that the government will also provide an update on the timings and detail for phase 2 of the review in the final report
Posted: 12/3/25
Pensions Minister, Torsten Bell, has confirmed that the government will be sticking to the March 2026 deadline for Local Government Pension Scheme (LGPS) pooling work, with plans to meet with each of the eight funds over the coming weeks to inform this
Posted: 12/3/25
Investing in UK private markets can play an important role in building a better Britain, according to Future Growth Capital CIO, Ped Phrompechrut
Posted: 12/03/25
The UK pension industry should increase their allocation to domestic investments to university spinouts to avoid missed opportunities, Oxford Science Enterprises CEO, Ed Bussey, has said
Posted: 11/03/25
The government has confirmed that it will move forward with its planned amendments to the Teachers’ Pension Scheme, with regulations to be laid in parliament this month (March 2025), before coming into force on 1 April 2025
Posted: 11/3/25
The MGN Pension Scheme is expected to be fully funded by January 2028, after action by The Pensions Regulator secured an additional £25.5m five-year injection from publisher Reach Plc.
TPR executive director of compliance and enforcement, Gaucho Rasmussen, highlighted the case as demonstration of how the regulator will support trustees in their role as the first line of defence for savers, and to stop bigger problems arising later
TPR executive director of compliance and enforcement, Gaucho Rasmussen, highlighted the case as demonstration of how the regulator will support trustees in their role as the first line of defence for savers, and to stop bigger problems arising later
Posted: 11/3/25
The pensions and tax industries are strongly opposed to the government’s proposal to bring unspent pension pots into the scope of inheritance tax (IHT) from April 2027, according to survey from WBR Group
Posted: 11/3/25
The latest National Local Government Pension Scheme (LGPS) Procurement Framework for Transition Management Services has been launched
Posted: 11/03/2025
An unnamed pension scheme has completed a £361m full scheme buy-in with Canada Life, covering over 850 deferred members and around 650 pensioners
Posted: 11/3/25
The aggregate surplus of defined benefit (DB) pension schemes fell to £232.7bn at the end of February 2025, down from £239bn at the end of January, the Pension Protection Fund’s (PPF) 7800 Index has revealed
Posted: 11/3/25
The Pensions and Lifetime Savings Association (PLSA) will be responsible for future oversight of a template for asset managers to communicate to asset owner clients on their voting activity, the Financial Conduct Authority (FCA) has confirmed
Posted: 10/3/25
M&G Investments has received regulatory approval to launch its first Long-Term Asset Fund (LTAF)
Posted: 10/3/25
Pensions Age news editor, Sophie Smith, looks at the need for the pensions industry to take its lead from the International Women's Day campaign, in order to accelerate the action being taken to address the gender pensions gap
Posted: 10/3/25
Pensions Minister, Torsten Bell, has faced renewed calls to establish an independent long-term savings commission
Posted: 10/03/2025
The changes to inheritance tax (IHT) announced in the Autumn Budget have resulted in a “significant shift” in the advice that independent financial advisers (IFA) are giving to their clients, research from Standard Life has found
Posted: 10/3/25
Annuity incomes have surged in value to a 16-year high, according to the latest data from Hargreaves Lansdown’s annuity search engine
Posted: 10/03/2025
The A Gomez Limited Retirement Benefits Scheme has completed a £4.8m buyout with Aviva following a six-month process
Posted: 10/3/25
Pensions Age takes a look back at the top stories of the week, including dashboards updates, market trends, and significant research findings
Posted: 07/03/2025
Pension trustees should talk to their scheme administrators to understand what they are doing to review, rectify and preserve scheme data, Aptia has said, arguing that "2025 is crunch time for pension schemes to address their data"
Posted: 7/3/25
The latest news in brief and mandates from the past seven days
Posted: 07/03/2025
Industry experts have expressed concern about the future of private sector dashboards, highlighting specific issues around regulatory restrictions and launch timelines
Posted: 07/03/25
Around a fifth (17 per cent) or £15.2bn of the approximately £88bn in fossil fuel assets held by UK pension funds are at risk of being stranded by 2040 if current policies and pledges are fulfilled, according to research from the UK Sustainable Investment and Finance Association (UKSIF)
Posted: 06/03/25
The deadline is fast approaching to enter the European Pensions Awards 2025
Posted: 6/3/25
The Pensions Age Northern Conference 2025 is now open for registration, offering pension funds and those working in the industry the opportunity to learn and network alongside their peers
Posted: 6/3/25
Fidelity International has announced its intention to adopt the Sustainability Mixed Goals label under the Sustainability Disclosure Requirements (SDR) regime for three funds in its UK-domiciled multi-asset range
Posted: 6/3/25
It is reasonable for pension scheme trustees to take into account members’ future standard of living in retirement when making investment decisions, legal advice shared by Natwest Cushon and Eversheds Sutherland has suggested
Posted: 6/3/25
Whilst 86 per cent of defined benefit (DB) pension schemes are currently running at a surplus, more than a third (36 per cent) of companies with DB pension schemes need advice on how to make use of that surplus, research from Law Debenture has revealed
Posted: 6/03/25
More than half (54 per cent) of students would be more engaged with their future pension savings if they knew the funds were invested in environmentally sustainable ways to tackle climate change, research from Now Pensions has revealed
Posted: 6/3/25
UK workers are facing an escalating retirement crisis, according to a nationwide report from Smart Pension, which revealed that almost a third of savers expect to continue working once they reach retirement age
Posted: 06/03/2025
The first three pensions dashboards participants have completed their “full end-to-end” connection journey, Pensions Dashboards Programme (PDP) senior responsible owner, Iain Patterson, has revealed.
The three participants, Heywood, Legal and General, and Pension Fusion, reached the final stage on Tuesday (4 March 2025), marking a “significant” milestone
The three participants, Heywood, Legal and General, and Pension Fusion, reached the final stage on Tuesday (4 March 2025), marking a “significant” milestone
Posted: 05/03/25
The Pensions Regulator (TPR) and the Financial Conduct Authority (FCA) have emphasised the "transformational” potential of pensions dashboards, but acknowledged challenges in data quality, digitisation, and scheme connectivity ahead of the 2026 deadline
Posted: 05/03/25
Outdated perceptions of retirement risk are creating a generation of "too little, too late" savers, according to research from M&G
Posted: 05/03/2025
Less than a fifth (11 per cent) of women feel very confident about their retirement savings, compared to 25 per cent of men, research from Schroders Personal Wealth (SPW) has revealed
Posted: 5/3/25
Accenture has acquired Altus Consulting from Equisoft for an undisclosed amount, as it seeks to strengthen its strategic advisory and delivery services for financial services firms in the UK
Posted: 5/3/25
Defined benefit (DB) pension scheme funding levels remained "robust" in February, despite an unpredictable and rapidly developing economic backdrop, Broadstone's Sirius Index has revealed
Posted:
The winners of the 2025 Pensions Age Awards were announced last night at the much-anticipated annual gala dinner on London’s Park Lane
Posted: 5/3/25
The Inchcape Motors Pension Scheme has completed a £505m buy-in with Legal & General (L&G) Assurance Society, covering the benefits of 2,295 retirees and 5,890 deferred members
Posted: 5/3/25
The defined contribution (DC) market has continued to “radically reshape” towards fewer, larger pension scheme, data from The Pensions Regulator (TPR) has suggested, with the number of DC schemes falling below 1,000 for the first time in 2024
Posted: 4/3/25
The gap between the best and worst performing defined contribution (DC) workplace pension providers in the accumulation phase was 14.4 per cent in 2024, up from 9.7 per cent in 2023, research by Barnett Waddingham has revealed
Posted: 04/03/25
Abrdn has announced plans to use funds from its "significant" defined benefit (DB) pension scheme surplus to fund the cost of providing defined contribution (DC) benefits to current employees, while also confirming it is changing its name to Aberdeen Group
Posted: 4/3/25
Transport for London (TFL) has confirmed that its pension scheme will continue as usual following a recent review of its broader funding agreements
Posted: 4/3/25
Origo has announced the launch of its Unipass Transfer Tracking service for advisers to monitor the progress of their clients’ pension transfers online
Posted: 4/3/25
Defined benefit (DB) pension schemes may be reconsidering their endgame strategies in light of recent market movements, PwC has said, after its Low Reliance Index continued to show a record surplus position, rising to £180bn in February 2025
Posted: 4/3/25
The Pensions Regulator's (TPR) new data strategy has challenged the industry to 'raise its game' on data, in order to improve outcomes and benefit the wider market through increased efficiencies, enhanced innovation and reduced regulatory burden
Posted: 3/3/25
Current data inaccuracies mean that nearly one fifth (18.54 per cent) of pension dashboards queries could result in a ‘possible match’ rather than a confirmed match, research from Heywood has revealed
Posted: 3/3/25
Pension scheme trustees must prioritise effective climate action despite resource constraints in 2025, the Trustee Sustainability Working Group (TSWG) has said, emphasising the need for trustees to have a plan to manage climate risk and contribute to the solution
Posted: 3/03/25
Potential changes to surplus extraction rules are giving defined benefit (DB) schemes a "pause for thought," according to Brightwell CEO Morten Nilsson
Posted: 03/03/2025
Brookfield Wealth Solutions has announced plans to enter the UK insurance market, with a specific focus on delivering bulk purchase annuity solutions for UK pension schemes
Posted: 3/3/25
The Careers Research and Advisory Centre (CRAC) Pension Scheme has secured a £2.8m full scheme buy-in with Just Group, insuring the benefits of 30 deferred members and 10 uninsured pensioner members
Posted: 3/03/25
Sophie Smith takes a look at the recent funding challenges faced by a number of campaign and lobbying groups organisations, and the need for the industry to 'put its money where its mouth is'
Posted: 28/2/25
The Pensions Ombudsman (TPO) has upheld a complaint against Mr Peter E O’Hare for failing to pay contributions into a worker's pension despite deducting contributions from his pay
Posted: 28/02/25
The latest news in brief and mandates from the past seven days
Posted: 28/02/2025
Utmost Life and Pensions has appointed Schroders to manage its nearly £400m annuity book, following its entry into the bulk purchase annuity (BPA) market
Posted: 28/2/25
The UK is at a "pivotal" moment for financial security in retirement, according to University of Manchester social gerontology professor, Debora Price
Posted: 28/02/2025
Pensions Age takes a look back at the top stories of the week, including regulatory updates, market trends, investment developments, and key industry movements
Posted: 28/02/25
The Pensions Ombudsman (TPO) has upheld a complaint against the NHS Business Services Authority (BSA) for failing to automatically provide an employee with a pension saving statement (PSS)
Posted: 27/02/2025
Campaign group Make My Money Matter has announced that it will be closing its doors following recent funding pressures
Posted: 27/2/25
Aviva’s retirement sales increased by 33 per cent in 2024 to £9.4bn, its full-year results have revealed
Posted: 27/02/25
The government has laid the secondary legislation for a new private assets onshore fund structure, the Reserved Investor Fund (RIF), with several fund managers expected to launch RIFs from 19 March 2025
Posted: 27/2/25
The People's Pension (TPP) has announced the appointment of Amundi and Invesco to manage £28bn in assets, with a focus on responsible investment
Posted: 27/02/2025
There is a “growing gulf” between master trust service standards, LCP has argued, with its analysis showing a 25 per cent difference in the range between the best and worst providers
Posted: 27/02/25
Preparedness for buy-in or buyout remains at the forefront of defined benefit (DB) pension scheme trustees’ minds, with 28 per cent citing it as a key barrier to pursuing their endgame strategy, up from 26 per cent a year ago, research from Standard Life has found
Posted: 27/2/25
The deficit for the BAA Pension Scheme fell to £99m at the end of 2024, following a a 0.9 per cent increase in the discount rate, Heathrow's latest final results have revealed
Posted: 26/2/25
Almost a third (32 per cent) of households with a main earner at a small or medium-sized enterprise are on track for a moderate income, compared to 53 per cent for those at large private companies, according to research by Hargreaves Lansdown
Posted: 26/02/25
"Unique financial pressures" are threatening the retirement prospects of Gen Z (ages 18-29), according to a new report from the Pensions Policy Institute (PPI)
Posted: 26/02/2025
The pension risk transfer market is set for a “record-breaking” year in 2025, according to Hymans Robertson
Posted: 26/02/2025
The Financial Conduct Authority (FCA) has granted approval for Schroders Greencoat to launch the UK’s first infrastructure Long-Term Asset Fund (LTAF) focused on the UK wealth market
Posted: 26/2/25
Industry experts have called on the Financial Conduct Authority (FCA) to introduce greater consistency and transparency through a number of reforms, as it considers what changes may be needed to aspects of its pensions regulatory framework
Posted: 26/2/25
Defined benefit (DB) pension transfer values fell in the middle of January 2025, before recovering “slightly” over the second half of the month, according to analysis by XPS Group
Posted: 26/02/25
Brightwell has begun its work as the administrator for the Mineworkers’ Pension Scheme (MPS) and has completed its first pensioner payroll run following a transition that took nearly a year
Posted: 25/2/25
An unnamed UK-based asset manager's pension scheme has completed a £111m bulk annuity purchase (BPA) transaction with M&G, securing the benefits of 466 pensioners and deferred members
Posted: 25/02/25
The Association of Consulting Actuaries (ACA) has written to the government outlining what it believes are the essential elements to support plans to 'unlock' defined benefit (DB) pension scheme surpluses
Posted: 25/02/25
The Continuous Mortality Investigation (CMI) has published a consultation seeking views on proposed changes to its Mortality Projections Model.
Its paper is consulting on proposed methods and core parameters for the next version of the model, following a review that sought to address concerns around the sustainability of the initial approaches taken following the Covid-19 pandemic
Its paper is consulting on proposed methods and core parameters for the next version of the model, following a review that sought to address concerns around the sustainability of the initial approaches taken following the Covid-19 pandemic
Posted: 25/2/25
Less than a third (28 per cent) of Gen X are on track to meet their retirement savings goals that would enable them to live 'comfortably' through retirement, according to research from Get Britain Pension Ready
Posted: 25/02/25
A bursting of the ‘Magnificent Seven’ tech bubble and a Eurozone sovereign debt crisis are the largest potential risks to defined benefit (DB) schemes in the UK, according to modelling from Van Lanschot Kempen
Posted: 25/2/25
Simpler pension transfers took an average of 10.5 days to complete in 2024, while the volume of transfers increased, the latest Origo data has revealed
Posted: 24/2/25
The trustee of the Photo‑Me International Plc Pension and Life Assurance Fund has completed a buy-in with Legal & General, securing defined benefit (DB) pension benefits for certain members of the fund
Posted: 24/2/25
Financial advisers are delivering suitability reviews in the vast majority of cases assessed in the Financial Conduct Authority’s (FCA) review of ongoing advice, the regulator has revealed
Posted: 24/2/25
XPS Pensions Group has announced that it has agreed to acquire UK insurance consultancy business Polaris Actuaries and Consultants Limited
Posted: 24/2/25
TPT Investment Management (TPTIM) has launched a new £170m global credit opportunities fund, which aims to target markets that "may not be as well-known"
Posted: 24/2/25
The 1973 Pension & Assurance Scheme of The Boys’ Brigade has secured a £4.5m full scheme buy-in with Just Group, insuring the benefits of 49 members, comprising 15 deferred members and 34 pensioner members
Posted: 24/2/25
The government has confirmed that the next valuation for all Local Government Pension Scheme (LGPS) funds, which will set the local employer contribution rates for the 2026-27 financial year, will take place next month (March 2025).
Industry experts have previously suggested that a review of LGPS employer contributions in England and Wales could bring significant changes as a result of recent funding level improvements
Industry experts have previously suggested that a review of LGPS employer contributions in England and Wales could bring significant changes as a result of recent funding level improvements
Posted: 21/2/25
Pensions Age takes a look back at the top stories of the week, including updates from The Pensions Regulator (TPR), growing support for the UK Stewardship Code, and adequacy concerns
Posted: 21/02/25
The latest news in brief and mandates from the past seven days
Posted: 21/02/2025
More than half (54 per cent) of UK adults are planning to adjust their retirement or estate planning in response to the government’s inheritance tax (IHT) changes on pensions
Posted: 21/2/25
Zedra has partnered with Heka Global on the launch of an AI tracing service, designed to reconnect pension scheme members with lost retirement savings
Posted: 21/2/25
The Pensions Regulator (TPR) has confirmed that it will be changing its approach to supervision and its regulation of the defined contribution (DC) market to make master trusts the "gold standard" in pension provision
Posted: 20/2/25
The Society of Pension Professionals (SPP) has seen a 40 per cent rise in the number of policy papers published this year, an increase from five guides and thought leadership pieces in 2023, to seven in 2024, its 2024/25 review has revealed
Posted: 20/02/25
The Financial Reporting Council (FRC) has been urged to keep a "robust focus" on sustainability in its stewardship code definition, amid concerns that the current proposed definition could undermine many of the other positive measures highlighted in the code
Posted: 20/2/25
"Notable" generational differences in retirement goals have been highlighted in research from Legal & General (L&G), which found that younger respondents aged 16-24 are the least optimistic, with less than a third (31 per cent) expecting a moderate retirement
Posted: 20/2/25
BAE Systems has published the results of its most recent triennial funding valuation for its main UK pension scheme, revealing that the scheme's surplus rose to £800m as at 31 March 2024
Posted: 20/02/2025
Centrica, an energy and services company, reduced the technical provisions deficit of its UK defined benefit (DB) pension scheme by 47 per cent, from £994m in March 2021 to £504m in March 2024, its triennial review has revealed
Posted: 20/02/25
Two fifths (40 per cent) of UK savers with a pension in a major master trust have additional savings with another master trust, research by the Pensions Data Project has revealed, raising concerns over pension fragmentation and the need for small pots consolidation
Posted: 20/02/25
Scottish Widows grew its workplace pensions assets under administration (AUM) by 17 per cent, to £108bn, in 2024
Posted: 20/02/2025
Nearly a third (31 per cent) of pension professionals are unclear about the government's defined contribution (DC) priorities, with particular confusion surrounding plans to bring pensions into the scope of inheritance tax (IHT), research from Sackers has found.
The research showed that there were mixed views about the government's 2025 pension priorities, with 62 per cent of respondents stating that while the government's defined contribution (DC) priorities are "clear", there is a lot happening all at once
The research showed that there were mixed views about the government's 2025 pension priorities, with 62 per cent of respondents stating that while the government's defined contribution (DC) priorities are "clear", there is a lot happening all at once
Posted: 19/2/25
The government has accepted all recommendations made by the Accelerated Settlement Technical Group, meaning that the UK will move to a ‘T+1’ standard for settling securities trades from 11 October 2027
Posted: 19/2/25
The rise in inflation to 3 per cent in January 2025, up from 2.5 per cent in December 2024, could have significant implications for pensions, particularly state pension increases under the triple lock
Posted: 19/02/25
Retirees could be at risk of emptying their pension nearly a decade early by taking cash lump sums, research from Legal & General (L&G) has found, with 46 per cent suggesting that they would take a lump sum out of their pension "simply because they could"
Posted: 19/7/25
Pension disengagement could cost workers over £500,000 in retirement, according to a report from PensionBee
Posted: 19/02/2025
Mercer has reached an agreement to acquire Secor Asset Management for an undisclosed amount
Posted: 19/2/25
Nearly half (48 per cent) of Brits would tell their younger selves to “start saving as early as possible,” according to Aegon’s latest Financial Priorities survey
Posted: 18/02/2025
TPT Investment Management (TPTIM) has launched a new £720m investment grade bond fund, designed to provide UK pension schemes with access to a wide range of investment opportunities in the public investment grade bond universe
Posted: 18/2/25
Two thirds (66 per cent) of Millennials are worried they are not saving enough for retirement, making them the most concerned generation, Standard Life’s Retirement Voice report has revealed
Posted: 18/02/25
Institute for Fiscal Studies (IFS) research economist and report author, Laurence O’Brien, takes a closer look at recent research on the small pots epidemic, arguing that it is "high time" for the government to legislate for automatic consolidation
Posted: 18/2/25
Backing for the UK Stewardship Code has continued to grow over the past year, as the Financial Reporting Council (FRC) confirmed that there are now 297 signatories to the code, representing £52.3trn in assets under management
Posted: 18/2/25
The Geoghegan & Company Staff Pension Scheme has completed a £1.5m full scheme buy-in with Just Group, securing the benefits of all eight deferred members and eight pensioner members
Posted: 18/02/2025
Less than four in 10 (36 per cent) households are on track for a moderate retirement income, with self-employed, single parents, and renters the furthest off track, according to Hargreaves Lansdown's Savings and Resilience Barometer
Posted: 17/02/25
The Pensions Regulator (TPR) has called on pension schemes, advisers and administrators to engage with it early to prevent problems arising later down the line
Posted: 17/2/25
The sole trustee market should anticipate a persistent slowdown in growth over the longer term, Hymans Robertson’s latest paper has suggested
Posted: 17/02/2025
The Work and Pensions Committee (WPC) has written to the new Pensions Minister, Torsten Bell, to request further information on the government's consideration of issues surrounding the non-indexation of pre-1997 rights
Posted: 17/2/25
The Pensions Ombudsman (TPO) has upheld a complaint against George Tidbury for failing to pay contributions into a worker’s Nest pension due to maladministration
Posted: 17/02/25
The Deutz Retirement Benefits Plan has completed a £16m buy-in with Just, securing the benefits of 181 scheme members, including 70 deferred members and 111 pensioners
Posted: 17/2/25
Pensions Age reporter, Paige Perrin, looks at how savers can show their pensions some love this Valentine's Day and how to get what they really want out of one of the longest term relationships of their lives
Posted: 14/02/25
The Institute of Chartered Accountants in England and Wales (ICAEW) has issued new guidance on the Virgin Media judgment, acknowledging that there is currently much uncertainty about how the ruling should be reflected in scheme and employer reporting
Posted: 14/2/25
Pensions Age takes a look back at the top stories of the week, including industry updates on climate action, research findings on gender and knowledge gaps, and conference news
Posted: 14/2/25
Pension scheme trustees must remain focused on sustainable investment, the Investment Consultants Sustainability Working Group (ICSWG) has said, emphasising that regulatory burdens should not distract from impactful investment decisions
Posted: 14/02/25
The Scottish Funding Council has confirmed that it will provide additional funding for universities to support the change to the Scottish Teachers’ Pension Scheme (STPS) and NHS Pension Scheme employer contribution rates for the period April 2024 to March 2025
Posted: 14/2/25
An unnamed UK pension scheme has completed an £18m buy-in with Utmost, fully insuring the benefits of over 270 members of the scheme
Posted: 14/2/25
The latest news in brief and mandates from the past seven days
Posted: 14/2/25
The trustee of the Low & Bonar Group Retirement Benefits Scheme (Low & Bonar GRBS) has completed a £50m full buy-in, covering all remaining uninsured members of the scheme
Posted: 14/2/25
The Pensions Regulator (TPR) has revealed that Sarah Smart has decided to step down as chair of the regulator in July 2025
Posted: 13/2/25
Pension professionals have broadly welcomed the Financial Conduct Authority’s (FCA) consultation to introduce targeted support for pensions as part of the Advice/Guidance Boundary Review but raised concerns over regulatory restrictions and costs
Posted: 13/2/25
The government's proposed reforms to the Local Government Pension Scheme (LGPS) proposed present “significant challenges” to administering authorities (AAs), according to Quantum Advisory
Posted: 13/02/2025
Pension schemes and providers have urged asset managers to evolve and strengthen their climate stewardship strategies in a new Asset Owner Statement on Climate Stewardship, highlighting the "imperative" need for climate action
Posted: 13/2/25
Price, administrative experience, and transaction timescale flexibility are the top factors driving insurer selection decisions in 2025, according to research carried out by Mercer
Posted: 13/02/2025
Nearly three-quarters (72 per cent) of UK employees said it was important that their employer offered a 'responsibly invested pension', research from Scottish Widows has revealed
Posted: 13/2/25
Pension providers are continuing to fail to address their role in financing the climate and nature crisis, posing a "serious risk" to the retirement of British savers, according to a report from Make My Money Matter (MMMM)
Posted: 12/02/2025
Just over one in eight (13 per cent) young people could not answer a question correctly in a four-part true or false pension quiz, research from the Money and Pensions Service (Maps) has found
Posted: 12/2/25
There is a “stubborn” gender pensions gap across all ages with women struggling to build pension wealth throughout their working life, analysis from Interactive Investor has revealed
Posted: 12/2/25
The Financial Conduct Authority (FCA) should provide further clarity on how trust-based pension schemes will be able to confidently make the most of targeted support, the Association of Consulting Actuaries (ACA) has said
Posted: 12/2/25
The Finning Pension Scheme has secured a £250m buy-in with Standard Life, covering the benefits of all 2,170 scheme members
Posted: 12/02/2025
Sales of pension annuity contracts increased by 24 per cent in 2024 to 89,600, surpassing last year’s total and reaching a new ten-year high, figures from the Association of British Insurers (ABI) have revealed
Posted: 12/02/2025
While UK savers are open to AI playing a role in pension customer support, they are not ready for a fully automated experience, research from PensionBee has revealed
Posted: 12/2/25
The government has been urged to take action to stop and reverse the proliferation of small pension pots, after a report from the Institute for Fiscal Studies (IFS) suggested that there is a strong case for deferred small pension pots to be consolidated by default
Posted: 12/2/25
The Pensions Regulator (TPR) issued six section 72A (s72A) requests to pension schemes in 2024 requiring people to attend interviews, compared to just one s72A request between 2018 and Q1 2024, according to new data obtained by Eversheds Sutherland
Posted: 11/2/25
The aggregate surplus of defined benefit (DB) pension schemes rose to £239bn in January 2025, as DB scheme funding continued to strengthen, the Pension Protection Fund's (PPF) 7800 Index has revealed
Posted: 11/2/25
Those running UK defined contribution (DC) pension schemes are still too often underestimating the impact of gilt market volatility, Aon has argued, suggesting this could have a “significantly” adverse impact on member outcomes
Posted: 11/02/25
Defined contribution (DC) master trust providers are directing an outsized portion of illiquid investments towards UK-based opportunities, with the majority planning to invest between 21 per cent to 30 per cent domestically and some committing over 40 per cent, Isio research has found
Posted: 11/2/25
Men over 16 have a median occupational defined contribution (DC) pension pot of £10,000, whereas women in the same age group have £5,000, suggesting a "significant" gap in pension savings between genders, research from Broadstone has revealed
Posted: 11/2/25
The BAL section of the Tui Group UK Pension Trust has completed a £370m buy-in with Legal & General (L&G) Assurance Society, meaning that all section benefits are now fully secured
Posted: 11/2/25
UK-listed companies with defined benefit (DB) pension schemes issued 81 profit warnings in 2024, the highest annual volume since 2020, EY-Parthenon has revealed
Posted: 10/02/2025
More than half (52 per cent) of UK finance decision makers believe defined benefit (DB) pension schemes are more likely to run on for longer as a result of the liability-driven investment (LDI) crisis, research by Law Debenture has revealed
Posted: 10/2/25
Total global pension assets rose to a record high of USD 58.5trn in 2024, driven by growth in the largest defined contribution (DC) markets, analysis from the Thinking Ahead Institute (TAI) has revealed
Posted: 10/2/25
The UK’s housing crisis must be addressed in ways that meet the needs of older people, according to multiple speakers at the International Longevity Centre (ILC) Future of Ageing conference in London
Posted: 10/2/25
Mayor of Greater Manchester, Andy Burnham, has said that he wants the region to “be a pioneer” in improving the lives of older people within stronger communities
Posted: 10/2/25
Isio has confirmed that it has now completed its acquisition of the insurance and risk settlement specialist, K3 Advisory Limited, having received regulatory approval
Posted: 7/2/25
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
Posted: 7/2/25
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
Posted: 7/2/25
The latest news in brief and mandates from the past seven days
Posted: 07/02/2025
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
Posted: 7/2/25
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
Posted: 7/2/25
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
Posted: 7/2/25
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
Posted: 7/2/25
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
Posted: 06/02/2025
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
Posted: 6/2/25
K3 Advisory, in partnership with Cartwright, has announced the completion of five small scheme buy-ins, with all five transactions insured by Just Group
Posted: 6/2/25
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
Posted: 6/2/25
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"
Posted: 06/02/2025
Over three quarters (77 per cent) of senior pension fund executives anticipate that the overall risk environment for their pension funds will increase “dramatically” or “slightly” in 2025, research from Ortec Finance has revealed
Posted: 6/2/25
A typical firm’s exposure to redress liabilities in relation to defined benefit (DB) pension transfer advice is now likely to be below 5 per cent of the transfer value advised, First Actuarial’s new Redress Tracker has found
Posted: 5/2/25
Pension scheme trustees should not lose sight of the urgency of climate change, the Trustee Sustainability Working Group (TSWG) has said, encouraging trustees not to use recent changes in international priorities as a reason to move climate issues off their agenda
Posted: 5/2/25
The Church of England Pensions Board (CEPB) has agreed a £50m revolving credit facility with NatWest to help grow its retirement housing portfolio
Posted: 5/2/25
Over 2.3 million savers are failing to claim all eligible taxes on their pensions, according to analysis by InvestEngine
Posted: 5/2/25
A total of 152,700 estates will come into scope of inheritance tax (IHT) or face additional IHT liability if measures to include pensions in IHT calculations, as announced in the Autumn Budget, come into effect, according to a freedom of information (FOI) request by Interactive Investor
Posted: 5/2/25
The government should ensure that short-term growth isn’t prioritised over growth that protects the environmental and social underpinnings of the economy, LCP has said, emphasising the need to put sustainability at the heart of the government’s growth agenda
Posted: 5/2/25
Nest will become a 10 per cent shareholder in IFM Investors’ (IFM) holding company, Industry Super Holdings, with the aim of boosting UK private market investments
Posted: 5/2/25
The average worker is on course to miss their annual retirement income target by approximately £12,000, research by Royal London has revealed
Posted: 4/2/25
The Department for Work and Pensions (DWP) has "basically finished" its state pension correction exercise and is making "good progress" to address Home Responsibilities Protection (HRP) errors, Permanent Secretary, Peter Schofield, has confirmed
Posted: 4/2/25
Aviva Investors has announced the launch of a Venture and Growth Capital fund, with an initial £150m commitment from Aviva, as the group looks to "open up" investment opportunities for its defined contribution (DC) pension members
Posted: 04/02/2025
The Treasury Committee has launched an inquiry into how AI is being deployed across various sectors within financial services, including pensions, insurance, retail banking, and investment banking
Posted: 4/2/25
The Trustee Sustainability Working Group (TSWG), a cross-industry trustee group, has outlined its priorities for 2025, emphasising the need to work with regulators on climate scenario analysis and reporting requirements for small schemes
Posted: 4/2/25
The People's Pension has appointed People's Investment Limited (PIL) as the primary investment adviser to the trustee of its defined contribution (DC) master trust
Posted: 4/2/25
UK bulk purchase annuity (BPA) insurers have been urged by Aon to focus on key industry priorities in 2025 to ensure the continued delivery of “attractive and robust” insurance solutions
Posted: 3/2/25
Lufthansa UK Pension Trustee Limited has secured a £120m agreement with Royal London, which insures Lufthansa Group’s three UK defined benefit (DB) pension schemes in one integrated transaction
Posted: 03/02/2025
The lost pension pot epidemic is set to “explode” in the coming years as the generational pension gap continues to widen, research from Raindrop has suggested
Posted: 03/02/2025
Eight in 10 (80 per cent) defined contribution (DC) scheme members would give up the flexibility of their savings for a higher income, while 78 per cent would do the same for a guaranteed retirement income, research from Hymans Robertson has revealed
Posted: 3/2/25
The Financial Services Compensation Scheme (FSCS) Pension Scheme has completed a £25m full buy-in with Pension Insurance Corporation (PIC), securing the benefits of all 154 members, including 37 pensioners and 117 deferred members
Posted: 3/2/25
The government's plans to lift restrictions on how defined benefit (DB) surplus funds can be invested could go much further than most in the industry initially thought, analysis of the plans by LCP has suggested
Posted: 3/2/25
Pensions Age news editor, Sophie Smith, discusses the importance of initiatives like Financial Planning Week, and the need for the industry to make sure that financial planning is as accessible as possible for savers
Posted: 31/1/25
Pensions Age reviews the key stories from the week, including the government's plans to lift restrictions on how well-funded defined benefit (DB) pension schemes can invest surplus funds and cuts to the Pension Protection Fund's (PPF) 2025/26 levy estimate
Posted: 31/1/25
Local Government Pension Scheme (LGPS) funds and their employers could see their contribution costs increase if they unnecessarily de-risk their investment strategies, Local Pensions Partnership Investments (LPPI) has warned
Posted: 31/1/25
Schroders has announced its commitment to running on its defined benefit (DB) pension scheme and leveraging a portion of the surplus to fund its defined contribution (DC) commitments
Posted: 31/01/2025
The global market value of eight of the largest asset classes reached a record $246.8trn at the end of 2024, analysis from Ocorian has revealed
Posted: 31/1/25
The latest news in brief and mandates from the past seven days
Posted: 31/1/25
MPs have voted in favour of bringing in a bill that would require the government to address the findings of the Parliamentary and Health Service Ombudsman’s (PHSO) report on women’s historic state pension changes
Posted: 30/1/25
The Colthrop Board Mill Pension Scheme has completed a £23m buy-in with Aviva, securing the benefits of 69 deferred members and 152 pensioners
Posted: 30/1/25
Industry organisations have broadly welcomed the news that the government is considering making legislative changes to give the Pension Protection Fund (PPF) more flexibility to reduce its levy, highlighting this as a "great stride in the right direction"
Posted: 30/1/25
The Department for Work and Pensions (DWP) is working with The Pensions Regulator (TPR) to gather information on the number of schemes providing discretionary increases on pre-1997 benefits, Secretary of State for Work and Pensions, Liz Kendall, has confirmed
Posted: 30/1/25
The Pensions Ombudsman (TPO) has upheld a complaint against Capital Cranfield Trustees and Olivetti UK Limited, highlighting the case as an "important lesson" for schemes about the importance of properly documenting benefits promised on transfers in and on mergers
Posted: 30/1/25
The gap between the best and worst-paying annuities has “spiked” in recent weeks, reflecting the rise in bond yields, analysis by Just Group has revealed
Posted: 30/1/25
The Pension Protection Fund (PPF) has more than halved its levy estimate for 2025/26 to £45m, after the government confirmed that it is considering giving the PPF greater flexibility to reduce the levy it collects from pension schemes by relaxing restrictions
Posted: 30/1/25
The government is on track to share the final Pensions Investment Review report in spring, Chancellor, Rachel Reeves, has confirmed
Posted: 29/1/25
Higher-rate taxpayers could be missing out on additional pension wealth worth around £97,000 by not claiming additional tax relief via self-assessment tax returns, according to calculations by Interactive Investor
Posted: 29/1/25
Nearly a third (30 per cent) of do-it-yourself (DIY) investors would opt in to use salary sacrifice to boost their pension savings and mitigate against National Insurance contribution (NIC) costs, analysis from Charles Stanley Direct has revealed
Posted: 29/1/25
Member option exercises are "here to stay," Society of Pension Professionals (SPP) polling has suggested, with the government set to announce plans for greater defined benefit (DB) pension scheme surplus extraction
Posted: 29/01/2025
The Bank of England (BofE) has announced that applications are now open for the Contingent Non-Bank Financial Institution (NBFI) Repo Facility (CNRF), which will lend to pension schemes in times of severe gilt market dysfunction to help maintain financial stability
Posted: 29/1/25
The number of people over state pension age (SPA) is projected to rise by 13.8 per cent, from 12 million in 2022 to 13.7 million in 2032, despite the increase in the SPA to 67 from 2028, according to figures from the Office for National Statistics (ONS)
Posted: 29/1/25
There is a "huge disparity" between men and women's pension wealth, analysis from Broadstone has revealed
Posted: 29/1/25
Industry experts have predicted further innovation and development in the pension risk transfer (PRT) market in 2025, due to a “high demand” from pension schemes
Posted: 28/1/25
“Financial materiality” is forcing asset owners, including pension funds, to incorporate nature and biodiversity into their sustainability strategies, according to a report by Pensions for Purpose
Posted: 28/01/2025
The deadline to enter the Wealth and Asset Management Awards 2025 has been extended to 24 February
Posted: 28/1/25
Almost one in 10 (9 per cent) retirees aged over 55 have unretired or are actively looking for work, due to financial pressures, a lack of pension provision, or a desire for social connection, according to research from Standard Life
Posted: 28/1/25
Less than two fifths (39 per cent) of the highest earners are on track for a comfortable retirement income, according to data from Hargreaves Lansdown's (HL) savings and resilience barometer
Posted: 28/01/2025
Industry experts have welcomed the government's plans to change defined benefit (DB) surplus rules to provide more flexibility, whilst also stressing the need for the government to ensure that the right guardrails are in place
Posted: 28/1/25
The Sanofi Pension Scheme has completed a £1.4bn buy-in with Legal & General (L&G) Assurance Society Limited, securing the benefits of 4,900 retirees and 5,600 deferred members
Posted: 28/1/25
The government has announced plans to lift restrictions on how well-funded occupational defined benefit (DB) pension schemes are able to invest their surplus funds, in order to unlock "billions" of pounds to drive growth and boost pension pots
Posted: 28/1/25
The latest Pensions Age guest comment takes a closer look at the importance of making decisions at the right time, even if that decision is that you aren’t ready to decide yet
Posted: 27/1/25
The Pensions Ombudsman (TPO) has upheld a complaint against 'Mr M G T/A Confidentials' for failing to pay contributions into a worker's pension despite deducting contributions from her pay
Posted: 27/01/2025
The majority (86 per cent) of Gen Z, ages 18-29, would prefer to accept lower pension returns and to work beyond retirement age, rather than invest in industries they view as socially or environmentally harmful, research from Moneyfarm has revealed
Posted: 27/1/25
The UK defined benefit (DB) pensions de-risking market is likely to see £50bn in bulk annuity transactions and £20bn in longevity swaps in 2025, according to analysis from WTW
Posted: 27/1/25
Half of those over 55, the equivalent of more than 10.5 million people, are worried that their retirement savings will not last their lifetime, an Oxford Risk study has revealed
Posted: 27/01/2025
Chancellor, Rachel Reeves, is expected to reveal a range of initiatives to promote economic growth later this week, including plans to make it easier for sponsors of defined benefit (DB) pension schemes to access surplus funds, Sky News has reported
Posted: 27/1/25
The Pensions Regulator (TPR) has called on the industry to use a government-backed data competition as an opportunity to innovate with open pensions data
Posted: 24/1/25
The latest news in brief and mandates from the past seven days
Posted: 24/01/2025
Pakistani (16 per cent) and Bangladeshi (24 per cent) employees are twice as likely to opt out of workplace pensions compared to other ethnic groups (which average around 10 per cent), research by the Institute for Fiscal Studies (IFS) has revealed
Posted: 24/1/25
Pensions Age reviews the key stories from the week, featuring multiple updates on inheritance tax (IHT) and the Pensions Minister's confirmation that all automatic enrolment (AE) thresholds will remain unchanged
Posted: 24/1/25
The Rockwool Limited Penson Scheme has completed a £53m full-scheme buy-in with Royal London
Posted: 24/1/25
Dean Wetton Advisory (DWA) has expanded its offering with the launch of a risk transfer, bulk annuity and consolidator advice service
Posted: 23/1/25
Defined benefit (DB) pension scheme trustees must not forego their climate and net-zero responsibilities when moving towards the final stages of their endgame journey, Hymans Robertson has warned
Posted: 23/1/25
Defined benefit (DB) pension transfer values fell by almost 5 per cent during December 2024, according to analysis from XPS Group, dropping to their lowest level since the its index began in 2018
Posted: 23/1/25
Pension scheme professionals are "split" on the primary benefit of private assets, with the majority expecting private equity distributions to increase over the next three years, an Ortec Finance survey has found
Posted: 23/1/25
The All-Party Parliamentary Group (APPG) for State Pension Inequality for Women has urged the Work and Pensions Committee (WPC) to launch an inquiry into the government’s response to the Parliamentary and Health Service Ombudsman’s (PHSO) report on historic state pension changes
Posted: 23/1/25
Norges Bank Investment Management (NBIM), responsible for the investments of Norway’s Government Pension Fund Global (GPFG), has announced a partnership with Grosvenor, a UK property business
Posted: 23/1/25
This is the final week to enter the Wealth and Asset Management Awards 2025, with the entry deadline closing on Friday 24 January
Posted: 23/1/25
The government has announced plans to hold ‘Industry Forums’ with leaders from across the financial services sector to design the first-ever Financial Services Growth and Competitiveness Strategy
Posted: 23/1/25
HMRC has confirmed that it is reviewing the issues and views expressed in the response to its consultation on plans to bring pensions into the scope of inheritance tax (IHT), and will publish both a formal response and draft legislation "later in the year"
Posted: 22/1/25
The average amount retirees require per year for a retirement in 2025 is £36,915, which is £25,413 higher than the annual state pension, according to research by Shepherds Friendly
Posted: 22/1/25
HMRC has confirmed that while the top-up payments for individuals affected by the net-pay anomaly will still be made for the 2024/25 tax year, these payments are likely to be offered later than planned, in 2026
Posted: 22/1/25
The financial and insurance sectors reported an average gender pay gap of 23 per cent, with over 85 per cent of employers having a gap exceeding 10 per cent, according to research from Isio
Posted: 22/1/25
Pension-finding platform Raindrop reunited customers with £251m in lost pension pots last year, representing a 61 per cent increase on 2023, when it traced £156m
Posted: 22/01/2025
HMRC repaid nearly £50m to people who overpaid tax when they flexibly accessed their pensions in Q4 2024, the latest government Pension Schemes Newsletter has revealed, pushing the total repayments since 2015 to almost £1.4bn
Posted: 22/1/25
FTSE350 defined benefit (DB) pension scheme sponsors could unlock £47bn of economic value via surplus refunds, following an increase in the estimated aggregate surplus, analysis from Barnett Waddingham has found
Posted: 22/1/25
Pensions Minister, Torsten Bell, has confirmed that all automatic enrolment (AE) thresholds will be maintained at their 2024/25 levels in 2025/26, as the government looks to balance adequacy and affordability considerations
Posted: 21/1/25
Association of British Insurers (ABI) senior policy advisor for long terms savings policy, George Ritchie, discusses the FCA's consultation paper on targeted support, and the key considerations for the government
Posted: 21/1/25
The Pensions Ombudsman (TPO) has upheld a complaint against The University for Creative Arts for failing to pay contributions into a worker's pension despite deducting contributions from her pay
Posted: 21/01/2025
Nearly all (93 per cent) UK and European institutional investors, including pension funds, have expressed significant unease over the future of sustainability practices under a Trump presidency, research from Pensions for Purpose has revealed
Posted: 21/1/25
Pension contributions are not considered among the top three financial priorities until individuals reach their fifties, specifically up to the age of 59, after which their importance begins to decline again, research from Standard Life has revealed
Posted: 21/1/25
The government's plans to reform the Local Government Pension Scheme (LGPS) offer a "compelling opportunity" for local investment, according to Better Society Capital (BSC) and the Impact Investing Institute
Posted: 21/01/2025
The government is facing growing pressure to rethink its plans to bring pensions into the scope of inheritance tax (IHT), with a number of industry organisations calling on the government to make "fundamental" changes to the current proposals
Posted: 21/1/25
The Greater Manchester Pension Fund (GMPF) has invested £100m into an affordable housing investment fund developed and managed by Legal and General (L&G)
Posted: 20/1/25
The government's plans to reform the Local Government Pension Scheme (LGPS) represent a “clear path forward” for LGPS pooling, although “stronger collaboration” will be needed to meet the March 2026 deadline, the Local Pensions Partnership Investments (LPPI) has said
Posted: 20/01/2025
The Royal National Institute of Blind People's (RNIB) Retirement Benefits Pension Scheme has appointed Schroders Solutions as its fiduciary manager (FM), awarding them a £170m mandate
Posted: 20/01/2025
Reach PLC has announced plans to provide an additional £5m in funding for the West Ferry Printers Pension Scheme, after recent due diligence revealed a historical error
Posted: 20/1/25
The average UK household is, on average, £31,546 short of the amount needed to maintain a moderate standard of living in retirement, Hargreaves Lansdown’s Savings and Resilience Barometer has revealed
Posted: 20/1/24
The government should consider “less costly, quicker, and ultimately more effective” alternatives to its plans to bring pensions into the scope of inheritance tax, the Society of Pension Professionals (SPP) has said
Posted: 20/1/25
The government has been urged to take action to increase support for pensioners most in need, after research from the Fabian Society revealed that 1.9 million pensioners (16 per cent) are living in poverty
Posted: 17/01/2025
The Pensions Ombudsman (TPO) has upheld a complaint against Premier Group Recycling Ltd for failing to pay contributions into a worker’s Nest pension due to maladministration
Posted: 17/1/25
Employers may be able to use salary exchange as a way to mitigate the additional costs they are set to face as a result of the increase in employer National Insurance contributions (NIC), analysis from Royal London has found
Posted: 17/1/25
The latest news in brief and mandates from the past seven days
Posted: 17/01/2025
The pensions industry should offer diverse communication and education channels to cater to different preferences and evolving member needs, Scottish Widows has said, after its annual member survey revealed a growing preference for digital engagement
Posted: 17/1/25
Pensions Age takes a look back at the top stories of the week, including the appointment of Torsten Bell as Pension Minister and responses to the government proposals for defined contribution (DC) and Local Government Pension Scheme (LGPS) megafunds
Posted: 17/1/24
The People’s Pension (TPP) has announced plans to invest a "significant" proportion of the £31bn of assets it manages in private markets later this year, with a target of growing this allocation to 10 per cent, or £4bn, by 2030
Posted: 16/01/2025
Pension experts have expressed support for the government’s plans to improve the Local Government Pension Scheme's (LGPS) scale, governance, and investment, although concerns have been raised over accelerated timelines and potential conflicts of interest
Posted: 16/1/25
The government has been urged to "take a step back" from its plans to bring pensions into the scope of inheritance tax (IHT) and plot a new way forward, following concerns that the current proposals could risk "forcing a round peg into a square hole"
Posted: 16/1/25
Pensions Dashboards Programme (PDP) principal, Chris Curry, discusses the programme's latest milestones, and its plans and ambitions for 2025
Posted: 16/1/25
Whilst industry experts have broadly welcomed the objectives behind the government's plans to introduce defined contribution (DC) megafunds, concerns around the proposed approach, unintended consequences and "challenging" timelines have been raised
Posted: 16/1/25
A third of Brits (32 per cent) do not have a retirement plan, according to a new survey by Checkbox
Posted: 16/01/2025
Pension crises “will start to bite” over the next decade in super-ageing societies, according to the World Economic Forum’s (WEF) Global Risks Report 2025
Posted: 15/01/25
Retirement savings are "under threat" after the announcement that pensions will be subject to inheritance tax (IHT) from 2027, according to research from Charles Stanley Direct
Posted: 15/01/2025
The pensions industry has welcomed the appointment of Torsten Bell as Pensions Minister, with hopes that Bell’s background of campaigning for high retirement living standards could “revive the necessary discussions about increasing auto-enrolment (AE) pension contributions”
Posted: 15/1/25
The aggregate funding level of the 87 participating funds in the Local Government Pension Scheme (LGPS) in England and Wales reached a record high of 125 per cent at the end of 2024, Isio has revealed
Posted: 15/1/25
Over one in five (21 per cent) people who withdrew a cash lump sum from their pension pot did so as soon as they turned 55, despite many not understanding the consequences of doing so, research from Legal & General (L&G) has revealed
Posted: 15/1/25
Holophane Retirement Benefits Scheme has completed a £24m buy-in with Pension Insurance Corporation (PIC), securing the pensions of 95 pensioners and dependants and 74 deferred scheme members
Posted: 15/01/2025
Labour MP for Swansea West, Torsten Bell, has been appointed as Pensions Minister after former Pensions Minister, Emma Reynolds, was named Economic Secretary to the Treasury
Posted: 14/1/25
Half (50 per cent) of workplace pension savers have never considered increasing their pension contributions with their current employer, despite 48 per cent understanding how to do so, according to research from the Pensions and Lifetime Savings Association (PLSA)
Posted: 14/1/25
The aggregate surplus of defined benefit (DB) pension schemes fell to £226.2bn at the end of December 2024, down from £235.5bn at the end of November, the Pension Protection Fund’s (PPF) 7800 Index has revealed
Posted: 14/1/25
The Pensions Regulator (TPR) could play a "leading role" in helping to promote sustainable economic growth, LCP partner, David Wrigley, has argued
Posted: 14/1/25
Charities with defined benefit (DB) pension schemes need to get prepared for the new funding regime and make sure they understand the changes it entails, according to LCP
Posted: 14/1/25
Nearly one in five (18 per cent) pension funds believe they do not have enough liquidity to withstand adverse scenarios, research from Ortec Finance has revealed
Posted: 14/1/25
Professional trustees of defined benefit (DB) schemes are grappling to balance risk and growth, with a growing divergence in hedging ratios and growth allocations, research from Charles Stanley Fiduciary Management has found
Posted: 14/1/25
The government has been urged to introduce a new ‘comply or explain’ regime for defined contribution (DC) pension investments, after LCP raised concerns that the drive to DC 'megafunds' was the "wrong place to focus" to help generate more economic growth
Posted: 13/1/25
Nearly three quarters (74 per cent) of people think the government should deliver “fair compensation” to Women Against State Pension Inequality (Waspi) women, a poll from the Waspi organisation has revealed
Posted: 13/1/25
Annuity rates continued to "surge" in value at the beginning of 2025, according to the latest data from Hargreaves Lansdown’s annuity search engine
Posted: 13/01/2025
The Prudential Regulation Authority (PRA) has outlined how it expects bulk purchase annuity (BPA) insurers in the UK to manage increased growth and complexity in the market, including on the use of funded reinsurance
Posted: 13/1/25
PensionBee has launched a climate investment plan that sets a "clear standard" for climate-focused pensions based on the goals of the Paris Agreement
Posted: 13/01/2025
Industry experts have suggested that the impact of the recent gilt yield surge will likely be contained for UK pension schemes, as improvements since the 2022 yield crisis mean schemes are better prepared to handle fluctuations
Posted: 10/1/25
Pensions Age takes a look back at the top stories of the week, including concerns over "woefully inadequate" pension savings, industry funding improvements, gilt yield concerns and more
Posted: 10/01/2024
The government has confirmed that it will maintain pension schemes’ exemption from the clearing obligation for the longer-term, after industry feedback revealed "clear evidence" that removing the exemption would reduce schemes' ability to invest in productive assets
Posted: 10/1/25
The Pensions Ombudsman (TPO) has upheld a complaint against The Bridge Agent Limited for failing to pay contributions into a worker's pension, despite deducting contributions from his pay
Posted: 10/01/2024
The Pension Protection Fund (PPF) has revealed an increase in women in its senior management roles, achieving 48 per cent female representation at senior management level
Posted: 10/1/25
Pension scheme trustees must ask the "right questions" about financial strength when selecting an insurer for a buy-in transaction, LCP has said, emphasising that choosing the right insurer is more than a box-ticking exercise
Posted: 10/1/25
The latest news in brief and mandates from the past seven days
Posted: 10/1/25
South Yorkshire Pensions Authority (SYPA) has announced the appointment of Northern Trust as the new custodian for the South Yorkshire Pension Fund
Posted: 09/01/2025
The UK 10-year gilt yield has hit its highest level since the financial crisis in 2008, while the 30-year yield is at its highest since 1998, prompting concerns among the industry about the road to recovery for the UK economy
Posted: 9/1/25
"Woefully inadequate" pension savings will fall far short of potential residential care costs in retirement, research from Barnett Waddingham has revealed
Posted: 9/1/25
The Compass Group Pension Plan has secured a £1.5bn buy-in with Standard Life, covering the benefits of over 14,000 pensioner members and 11,000 deferred members
Posted: 9/1/25
Industry experts have stressed that whilst progress has been made to improve diversity, equity and inclusion (DEI) within the pensions sector, there is much more still to be done, as Pensions Age launches its special focus shining a spotlight on DEI issues
Posted: 9/1/25
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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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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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