Latest News
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TPR secures £25m funding boost for MGN Pension Scheme
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DB pension surplus falls by over £6bn in February 2025
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Govt to move ahead with proposed changes to Teachers' Pension Scheme
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Unnamed pension scheme completes £361m buy-in with Canada Life
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Industry ‘strongly opposed’ to proposed IHT pension changes
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Latest National LGPS Framework for Transition Management Services launched
Archive News
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: 11/02/25
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
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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
Defined benefit (DB) pension transfer redress continued to fall in the fourth quarter of 2024, with a typical complainant likely to receive no compensation, according to Broadstone’s quarterly update
Posted: 9/1/25
Utmost Life and Pensions has confirmed that it has entered the UK pension bulk purchase annuity (BPA) market, having successfully transacted with two external pension schemes in Q4 2024
Posted: 9/1/25
Pension saving remained a top three financial priority for 11 per cent of the public heading into 2025, according to research from Aegon
Posted: 08/01/2024
Defined benefit (DB) pension schemes are “ready to de-risk” following recent funding improvements, according to the Broadstone Sirius Index, with both half- and fully-hedged pension schemes finishing 2024 in better funding positions than they started.
The Broadstone Sirius Index revealed that funding levels for the 50 per cent hedged scheme increased from 101.4 per cent to 103.4 per cent in December, with a £0.5m increase in its surplus to £0.9m
The Broadstone Sirius Index revealed that funding levels for the 50 per cent hedged scheme increased from 101.4 per cent to 103.4 per cent in December, with a £0.5m increase in its surplus to £0.9m
Posted: 08/01/2024
Railpen and Royal London Asset Management have shared new guidance on cybersecurity risks in investment portfolios, urging investors to recognise the financial materiality of cybersecurity to their portfolios, and take the necessary steps to address this
Posted: 8/1/25
Confidence in retirement prospects among Brits "surged" in 2024, with PensionBee’s pension confidence indicator rising from -10 in December 2023 to +29 in December 2024, highlighting growing optimism about financial futures
Posted: 8/1/25
Increased pension contributions are top of the benefit wish list for employees in 2025, with nearly a third (30 per cent) of employees keen for higher employer pension contributions this year, research from Zest has found
Posted: 8/1/25
Pensions Administration Standards Association (Pasa) board director, Chris Tagg, discusses the government's plans to bring pensions into the scope of inheritance tax, and the potential pitfalls of its proposed implementation approach
Posted: 7/1/25
The Society of Pension Professionals (SPP) has shared new guidance videos designed for those who are new to, or in the early stages of, their careers as pensions professionals
Posted: 7/1/24
C&J Clark Pension Fund has completed a £540m buy-in with Pension Insurance Corporation (PIC), securing the pensions of almost 5,000 pensioners and dependants and over 3,000 deferred policyholders
Posted: 7/1/25
Lovell Minnick Partners has signed an agreement to make a strategic growth investment in Broadstone, which is expected to enable the company to broaden its client offerings
Posted: 7/1/25
Just Group has partnered with secure digital communication provider, Beyond Encryption, to support its clients with secure communications
Posted: 7/1/25
The Pensions Ombudsman (TPO) has upheld a complaint against Digital Express Limited for failing to pay contributions to a worker’s pension due to maladministration
Posted: 6/1/25
There are less than three weeks left to enter the Wealth and Asset Management Awards 2025, with the 24 January deadline fast approaching
Posted: 6/1/24
Women over 55 receive, on average, almost £6,000 less in annual pension income than men of the same age, according to research by Oxford Risk, which found that women over 55 are also more likely to face financial shortfalls than men
Posted: 6/1/25
Industry experts have warned that pensions are still being "widely underestimated" in divorce proceedings, with analysis from Interactive Investor revealing that spouses could be missing out on up to £665,000 by excluding pensions in divorce settlements
Posted: 6/1/25
Retirees have been encouraged to 'shop around' for the best annuity rates, after analysis by Just Group found that annuity rates on offer to a 70-year-old aren’t automatically better than those available to a 65-year-old
Posted: 6/1/25
Pensions Policy Institute policy researcher, Shantel Okello, discusses the shift towards alternative assets in defined contribution (DC) schemes, and whether this could help improve member outcomes
Posted: 3/1/25
Pensions Age takes a look at the key developments expected this year, and the considerations that should be top of the list for the industry in 2025
Posted: 3/1/25
The latest news in brief and mandates from the past seven days
Posted: 3/1/25
The Pensions Ombudsman (TPO) has upheld a complaint against Rowanmoor Group plc and other member trustees of the Alloy Sales Limited Executive Pension Scheme for inadequate due diligence for a small self-administered scheme (SSAS) transfer
Posted: 3/1/25
Pension scheme trustees should act now ahead of the pensions dashboards staging dates to avoid unnecessary costs, protect member benefits, and ensure a smooth transition to their endgame strategy, Cartwright has said
Posted: 3/1/25
Industry experts have stressed the need for the government to agree an income replacement target to help inform state pension and private pension policy, in new evidence for the Work and Pensions Committee's (WPC) inquiry into pensioner poverty
Posted: 2/1/25
British Business Bank (BBB) CEO, Louis Taylor, has been recognised in the King’s New Year Honours List 2025, alongside BBB interim CEO, Catherine Lewis La Torre, British Patient Capital interim CEO, Judith Hartley, and other industry figures
Posted: 2/1/25
Pensions Age reporter, Callum Conway, looks back on his first three months in the pensions industry, and what the year ahead has in store
Posted: 02/01/2025
The UK pension risk transfer (PRT) market is set for a "vibrant year" in 2025, according to LCP, as the number of transactions is expected to surpass 300 for the first time
Posted: 2/1/25
Nearly half (44 per cent) of pension professionals think they should consider environmental impacts when running a pension scheme, a poll from WTW has found
Posted: 23/12/24
As we come to the end of 2024, we take a look back at our year-long focus on financial literacy, taking a closer look at some of the progress made to improve financial understanding, and the work still to be done
Posted: 23/12/24
The past year has been another busy one for the pensions industry, with a 'landmark' Pensions Review, plans for a Pension Schemes Bill, and growing momentum around pensions dashboards. Sophie Smith takes a look back at the most read stories from the year
Posted: 23/12/24
Pensions Age reporter, Paige Perrin, reflects on the highs and lows of the pensions industry in 2024, assessing which developments earned a spot on Santa’s nice list and which areas ended up on the naughty list
Posted: 23/12/24
Pensions Dashboards Programme (PDP) principal, Chris Curry, looks back on the progress made towards making pensions dashboards a reality, and the work that lies ahead in 2025
Posted: 20/12/24
Pensions Age takes a look back at the top stories of the week, including the ‘widespread’ industry disappointment over the Pension Review delay, confirmation that no compensation will be paid to Waspi women over state pension age (SPA) changes, and more
Posted: 20/12/24
The Pension Protection Fund (PPF) has said that it would welcome any further government consideration of PPF and Financial Assistance Scheme (FAS) indexation rules, as concerns regarding the non-indexation of payments in respect of pre-1997 service persist
Posted: 20/12/24
The Pensions Scam Industry Group (PSIG) has said that feedback on its recent consultation was "encouraging", although it expressed "disappointment" that the industry is not yet ready to help fund its operation
Posted: 20/12/2024
The latest news in brief and mandates from the past seven days
Posted: 20/12/24
The General Council of the Bar (GCB) Pension and Life Assurance Fund has completed a £20m buy-in with Pension Insurance Corporation (PIC), covering the benefits of 103 members
Posted: 20/12/24
Society of Pension Professionals (SPP) Investment Committee member, Jos Vermeulen, discusses the endgame options available to defined benefit (DB) schemes, and the role longevity swaps can play in making de-risking goals more achievable
Posted: 19/12/24
The Financial Reporting Council (FRC) has published a draft three-year strategy for 2025-28 reaffirming its commitment to support UK economic growth and serve public interest
Posted: 19/12/24
Two fifths (40 per cent) of UK adults aged 55 or over - the equivalent of 8.5 million people - remain “completely unaware” of new rules that will bring pensions into the scope of inheritance tax (IHT) from April 2027, research from Canada Life has revealed
Posted: 19/12/2024
Defined benefit (DB) pension transfer values reached a 12-month low during November 2024, before recovering to their previous month-end position, according to analysis from XPS Group
Posted: 19/12/2024
The trustees of the Airways Pension Scheme have agreed a £340m longevity swap with Metropolitan Tower Life Insurance Company, a subsidiary of MetLife, and Zurich Assurance Ltd
Posted: 19/12/24
The Financial Services Compensation Scheme (FSCS) has revealed that 13 firms were declared in default in October and November 2024
Posted: 19/12/24
Nearly three quarters (70 per cent) of pension schemes view capacity constraints within scheme administrators as the biggest risk to timetables for moving schemes to buyout and wind-up, a poll from LCP has revealed
Posted: 18/12/24
Technology changes will demand new levels of adaptability and forward-thinking, the CFA Institute has said, particularly if these technologies address the unique challenges pension funds face in generating sustainable income for future generations
Posted: 18/12/24
XPS Group has launched a tracker that benchmarks a typical defined contribution (DC) pension pot at retirement against industry living standards
Posted: 18/12/2024
The G R Wright & Sons Ltd Pension & Assurance Scheme has completed a £4m full scheme buy-in with Just Group, securing the benefits of all 13 members
Posted: 18/12/2024
Almost three quarters (74 per cent) of pension scheme managers said the scheme they work for would or was likely to increase contributions over the coming year, despite pension schemes experiencing an improvement in their funded status, research from Ortec Finance has found
Posted: 18/12/24
The Association of Consulting Actuaries (ACA), the Association of Pension Lawyers (APL) and the Society of Pension Professionals (SPP) have issued a joint statement following the Virgin Media ruling, encouraging the government to introduce retrospective regulations
Posted: 18/12/24
The government has accepted that there was maladministration in relation to how it communicated changes to women's state pension age (SPA), although it has rejected the Parliamentary and Health Service Ombudsman's (PHSO) proposed remedy
Posted: 18/12/24
Almost half (46 per cent) of defined benefit (DB) pension scheme trustees said market volatility remained a key challenge when it came to pursuing their endgame strategy, according to research from Standard Life
Posted: 17/12/24
Legal & General (L&G) has announced that it will introduce its Lifetime Advantage Funds as the new core default strategy for contract-based defined contribution (DC) clients beginning in 2025
Posted: 17/12/2924
Regulatory action will not be taken against pension schemes that are unable to meet their pensions dashboards connection date because they are using a third party that has not completed its connection journey, the Money and Pensions Service (Maps) has confirmed
Posted: 17/12/24
The Financial Conduct Authority (FCA) has fined Richard Fenech and Heather Dunne, and banned them from working in financial services, due to pension transfer advice failings
Posted: 17/12/24
Pension Insurance Corporation (PIC) has partnered with SEI to allow trustees to transfer defined contribution (DC) pension benefits and additional voluntary contributions (AVC) into the SEI Master Trust in bulk, as part of their buyout arrangements
Posted: 17/12/24
MoneyHelper has outlined plans for its Citizen User Testing exercise, which is set to begin in the new year
Posted: 17/12/24
The pensions industry has expressed its disappointment at the news of a potential delay to the second phase of the government's Pension Review, with particular concerns raised over the impact on auto-enrolment reforms.
Whilst Pensions Minister, Emma Reynolds, previously suggested that the pensions industry “won’t have too long to wait” for the second phase, with further updates expected by the end of year, a government spokesperson has now said that it will set out more details on the second phase "in due course"
Whilst Pensions Minister, Emma Reynolds, previously suggested that the pensions industry “won’t have too long to wait” for the second phase, with further updates expected by the end of year, a government spokesperson has now said that it will set out more details on the second phase "in due course"
Posted: 16/12/24
Eight in ten (81 per cent) working-age adults aren't sure where all their pension pots are, prompting renewed concerns of a future pension savings crisis in the UK, research from pension-finding platform, Raindrop, has revealed
Posted: 16/12/2024
The Tennants Consolidated Limited Pension Scheme has completed a £102m full scheme buy-in with Royal London, covering 463 pensioners and 241 deferred members
Posted: 16/12/24
The bulk annuity market saw “significant” shifts in market dynamics in 2024, including the emergence of new entrants, increased capacity to meet demand, and evolving insurer priorities, DLA Piper has said
Posted: 16/12/24
FTSE350 defined benefit (DB) pension scheme sponsors could unlock £45bn of economic value via surplus refunds, analysis from Barnet Waddingham has revealed
Posted: 16/12/2024
The Hunt Brothers and Company Limited Pension Fund has secured a £1.4m full scheme buy-in with Just Group, covering the benefits of eight pensioner members
Posted: 16/12/24
The latest news in brief and mandates from the past seven days
Posted: 13/12/2024
The Pensions Regulator (TPR) achieved 15 out of 20 key performance indicators (KPIs) in 2023/24, its latest Annual Report and Accounts has revealed
Posted: 13/12/24
Defined benefit (DB) pension schemes are struggling to set long-term funding targets, despite pressure from The Pensions Regulator to do so, research from Charles Stanley Fiduciary Management has shown
Posted: 13/12/24
Pensions Age takes a look back at the top stories of the week, including consultations from the Financial Conduct Authority (FCA), the outlook for defined benefit (DB) and defined contribution (DC) schemes in 2025, and more
Posted: 13/12/2024
Nest's scheme membership rose to 13 million in 2023/24, according to its latest Annual Report and Accounts, with this recent growth and the persistency of pension savings enabling member contributions to out-perform expectations
Posted: 13/12/24
The trustee of the Wates Pension Fund, together with Wates Group, have agreed to transfer members' defined benefit (DB) pension benefits to Clara, marking the first superfund transaction with a scheme with an active sponsor
Posted: 12/12/24
The Pension Protection Fund (PPF) has confirmed that it will postpone its decision regarding the 2025/26 levy, to allow more time for legislative changes to provide greater flexibility and ultimately enable it to set a zero levy
Posted: 12/12/24
Flexibility is "key" when selecting a run-on strategy for a defined benefit (DB) scheme, Hymans Robertson has said, arguing that insurance should always remain a possibility if things change
Posted: 12/12/2024
Almost a third (30 per cent) of UK defined benefit (DB) pension schemes are yet to decide their endgame target, with many more willing to consider their options rather than move automatically to buyout, research from Russell Investments has revealed
Posted: 12/12/24
The pensions and advice industries have broadly welcomed the Financial Conduct Authority’s (FCA) proposals to introduce targeted support for pensions, but have warned there will be issues that will be challenging to overcome
Posted: 12/12/24
The expected future living standard in retirement provided by defined contribution (DC) savings fell for young savers in Q3, following "flat" investment returns, Aon’s UK DC pension tracker has revealed
Posted: 12/12/2024
The Department of Health and Social Care (DHSC) has launched a consultation on proposed amendments to the NHS Pension Scheme, as part of its efforts to ensure it continues to help the NHS attract and retain the staff needed to deliver high-quality care for patients
Posted: 12/12/24
The defined benefit (DB) and hybrid pensions landscape continued to shrink at a yearly rate of 3 per cent in 2024, analysis from The Pensions Regulator (TPR) has revealed
Posted: 12/12/24
The Financial Conduct Authority (FCA) has published a consultation on proposals to introduce targeted support for pensions as part of the Advice/Guidance Boundary Review
Posted: 12/12/24
Healthy defined benefit (DB) pension scheme funding levels are expected to continue in 2025, Legal & General (L&G) has said, with average UK pension risk transfer (PRT) market volumes expected to reach £45bn per annum
Posted: 11/12/24
Strong activity levels and improved communications for members at-retirement in the bulk purchase annuity (BPA) market are set to continue in 2025, according to industry experts
Posted: 11/12/24
Global pension schemes are expected to increase their allocations to private assets and Asian emerging markets, a report from Create-Research and Amundi has revealed
Posted: 11/12/24
Given the improved funding position of defined benefit (DB) schemes, some which have moved into surplus, over two-fifths (43 per cent) of UK private equity firms have factored the DB funding landscape into their investment strategies, research from Cardano has found
Posted: 11/12/24
Targeted state support could help mitigate the impact of state pension age (SPA) increases, particularly for vulnerable groups, according to the Institute for Fiscal Studies (IFS)
Posted: 11/12/24
The trustees of an unnamed pension scheme have completed a £17m full-scheme buy-in with Just Group, insuring the benefits of all 54 scheme members
Posted: 11/12/24
Nearly half (44 per cent) of pension professionals think new tax reliefs or financial incentives would be the most effective way for the government to deliver greater pension investment in UK productive assets, a poll from the Society of Pension Professionals (SPP) has found
Posted: 11/12/24
Railpen has updated its global voting approach for 2025, strengthening its engagement and voting commitments on issues such as shareholder protections and audit quality
Posted: 10/12/24
Thames Water Utilities Limited has agreed a recovery plan with the trustees of the Thames Water Pension Scheme (TWPS) and Thames Water Mirror Image Pension Scheme (TWMIPS), which is aimed at reducing the deficit to zero by 2029
Posted: 10/12/24
The latest defined benefit (DB) funding level provides an “encouraging outlook” for DB schemes, with revised data from the Pension Protection Fund (PPF) showing that the aggregate surplus of DB pension schemes increased to £235.5bn in November.
The update reflected several changes to the roll-forward calculation methodology used to estimate asset and liability values, which led to "significant" changes in the data produced by the PPF
The update reflected several changes to the roll-forward calculation methodology used to estimate asset and liability values, which led to "significant" changes in the data produced by the PPF
Posted: 10/12/2024
The Work and Pensions Committee (WPC) has launched an inquiry into pensioner poverty, looking at the impact of pensioner poverty and its potential mitigations, and the costs that should be covered by the state pension and other pension age benefits
Posted: 10/12/24
The Trustee Sustainability Working Group (TSWG), a cross-industry trustee group, has launched, aimed at accelerating good investment practice around sustainability across the pensions industry
Posted: 10/12/24
The Hays Pension Scheme has completed a £370m buy-in with Pension Insurance Corporation (PIC), covering the benefits of 853 pensioners and dependents and 3,368 deferred members
Posted: 10/12/24
Major issues are continuing to “plague” pension transfer regulations three years on from their introduction, according to Quilter
Posted: 9/12/24
The combined IAS19 pensions surplus for defined benefit (DB) UK pension schemes of FTSE 100 companies increased to over £65bn in November, according to LCP’s Pensions Explorer
Posted: 9/12/24
The Institute and Faculty of Actuaries (IFoA) has published a thematic review into the role of actuaries in managing cyber risk
Posted: 9/12/24
Less than a fifth (19 per cent) of all UK savers have fully considered getting a serious illness in their retirement plan, but only 16 per cent of over-50s said they were prepared for this, compared to 25 per cent of those under 50, research from Barnett Waddingham has found
Posted: 9/12/24
The pensions industry has split opinions on which is the better endgame option for defined benefit (DB) pension schemes, run-on or buyout, according to a poll from the Society of Pension Professionals (SPP)
Posted: 09/12/2024
The Financial Reporting Council (FRC) has launched a consultation on proposed revisions to Technical Actuarial Standard (TAS) 300: Pensions, seeking to reflect recent developments in pension scheme funding
Posted: 9/12/24
The Pensions Regulator CEO, Nausicaa Delfas, reflects on recent changes in the pensions landscape, taking a closer look at how the regulator plans to change its approach to become more proactive and market-facing
Posted: 6/12/24
The Department for Work and Pensions (DWP) has been urged to repeal or amend the regulations in relation to the contents of pension schemes' annual reports, amid concerns over the level of complexity and duplication in current reports.
An open letter from the Joint Industry Forum (JIF) on workplace pensions pointed out that pension scheme annual reports and accounts have become very long and, in some cases, longer than corporate annual reports
An open letter from the Joint Industry Forum (JIF) on workplace pensions pointed out that pension scheme annual reports and accounts have become very long and, in some cases, longer than corporate annual reports
Posted: 6/12/24
The latest news in brief and mandates from the past seven days
Posted: 06/12/2024
HMRC has shared further clarifications about regulations around the abolition of the lifetime allowance (LTA) after receiving “several queries” since the publication of the amending legislation
Posted: 6/12/24
The Pensions Ombudsman (TPO) has upheld a complaint against Guardian Industrial UK, ordering the employer to pay the complainant £1,000 for the serious distress and inconvenience it caused her
Posted: 6/12/24
Pensions Age takes a look back at the top stories of the week, including guidance from The Pensions Regulator (TPR), the latest defined benefit (DB) funding level estimates, and more
Posted: 6/12/24
The net funding position for defined benefit (DB) pension schemes has remained largely stable over the past year, with a net surplus of £219bn, the Pension Protection Fund's (PPF) latest Purple Book has revealed
Posted: 5/12/24
HMRC has found that the combined tax reliefs for pensions, including reliefs on contributions and tax-free investment growth, accounted for approximately £52bn in 2023/24
Posted: 5/12/24
The Pensions Regulator (TPR) and the Pension Protection Fund (PPF) have amended their actuarial models to take account of benefit payments and future accrual, in an effort to create more alignment across their defined benefit (DB) funding models
Posted: 5/12/24
While automatic enrolment has improved pension participation, challenges remain in ensuring adequate contribution levels and addressing the affordability concerns of lower-income workers, research from the Pensions Policy Institute (PPI) has found
Posted: 5/12/24
UK defined benefit (DB) pension schemes’ funding positions remained at record levels in November, according to an analysis by XPS
Posted: 05/12/2024
Fully hedged defined benefit (DB) pension scheme funding levels saw a small improvement in November, up from 69.4 per cent at the end of October to 69.5 per cent at the end of November, according to analysis from Broadstone
Posted: 5/11/24
Working women "significantly underestimate" how much they will rely on the state pension in retirement, research from Aegon has revealed
Posted: 04/12/2024
The total value of buy-in and buyout transactions completed in the third quarter of 2024 reached around £20bn, marking the largest volume of transactions in the third quarter of any calendar year, according to analysis by Hymans Robertson
Posted: 4/12/24
The Pensions Dashboards Programme (PDP) has confirmed that two of its volunteer participants (VPs) have completed integration testing, with wider industry connection "getting started next year"
Posted: 4/12/24
The majority (65 per cent) of pension funds have a commitment to net zero in place, while 22 per cent of the third who do not have one expect to adopt a commitment within five years, research from the Pensions and Lifetime Savings Association (PLSA) has found.
Posted: 4/12/24
The Pensions Regulator (TPR) has published updated covenant guidance for trustees of defined benefit (DB) pension schemes, in alignment with its new DB Funding Code.
The new guidance, which is intended to provide greater certainty over how the regulator expects trustees to assess their employer covenant, was hailed as the "last piece of the jigsaw" in helping schemes carry out valuations under the new DB funding regime
The new guidance, which is intended to provide greater certainty over how the regulator expects trustees to assess their employer covenant, was hailed as the "last piece of the jigsaw" in helping schemes carry out valuations under the new DB funding regime
Posted: 4/12/24
The Avimo Pension Scheme has completed a £50m buy-in with Rothesay, securing retirement benefits of all 611 scheme members, including 416 pensioners and dependants and 195 deferred members
Posted: 04/12/2024
Brits could boost their pension by thousands of pounds by retirement if they paid themselves an annual Christmas contribution bonus, according to a new analysis by PensionBee
Posted: 03/12/2024
Three quarters (73 per cent) of senior pension fund executives said the pension fund they work for would increase their budget for, and focus on, scenario modelling, asset-liability management, and stress testing over the next two years, Ortec Finance has found
Posted: 3/12/24
Nearly a third (29 per cent) of people don’t know how much they should save for their pensions, according to research by Hargreaves Lansdown (HL)
Posted: 03/12/2024
The trustee of the Merchant Navy Ratings Pension Fund (MNRPF) has agreed a £450m longevity swap with Metropolitan Life Insurance Company (MetLife).
The deal provides long-term protection to MNRPF against costs resulting from pensioners or their dependants living longer than expected, as well as enhancing security for MNRPF members
The deal provides long-term protection to MNRPF against costs resulting from pensioners or their dependants living longer than expected, as well as enhancing security for MNRPF members
Posted: 3/12/24
The Pensions Administration Standards Association (PASA) has launched guidance on data scoring, aimed at improving the consistency and quality of data within the pension industry
Posted: 3/12/24
Over 100,000 former mineworkers across the UK have received the first boost to their pensions, following the government's promise to reverse a "historic injustice" suffered by the Mineworkers' Pension Scheme (MPS) members
Posted: 2/12/24
Origo’s Unipass Letter of Authority (ULoA) is being made available to all Openwork Partnership advisers, seeking to support them in achieving faster, whole of market processing of their LoA requests
Posted: 2/12/24
The Financial Conduct Authority (FCA) has fined former Capital & Income Solutions (C&I) director, Philip Pryke, £1.38m for unsuitable pension transfer advice
Posted: 2/12/24
Nearly half (41 per cent) of companies with defined contribution (DC) schemes are 'very likely' to introduce a collective DC (CDC) pension scheme or a risk-sharing alternative, according to research by Hymans Robertson
Posted: 2/12/24
KION Group has completed a £250m full scheme buy-in transaction with Canada Life, securing the benefits of over 3,000 members and covering five different UK defined benefit (DB) pension schemes within the group
Posted: 2/12/24
The Bank of England (BofE) has shared the results of its system-wide exploratory scenario (SWES) exercise, revealing that UK pension funds have significantly improved their resilience with respect to liability-driven investment (LDI) over the past two years.
The Pensions Regulator (TPR) welcomed the next steps outlined in the report, including plans for TPR to explore potential improvements to existing data collections to improve contingency planning by pension schemes
The Pensions Regulator (TPR) welcomed the next steps outlined in the report, including plans for TPR to explore potential improvements to existing data collections to improve contingency planning by pension schemes
Posted: 29/11/24
Pensions Age editor, Laura Blows, discusses the importance of raising awareness around pension scams, after an EastEnders storyline highlighted the devastating impact missing key pension scam warning signs can have
Posted: 29/11/24
The Pensions Regulator (TPR) has urged the pensions industry to report scams and suspicions of scams to Action Fraud, after an EastEnders storyline highlighted the devastating impact of pension scams, in a fresh warning for savers to stay vigilant
Posted: 29/11/2024
UK pension organisations have expressed "strong support" for the government’s Mansion House reforms in a joint letter to Chancellor, Rachel Reeves, welcoming their potential to foster economic growth, drive consolidation, and improve outcomes for savers
Posted: 29/11/24
The latest news in brief and mandates from the past seven days
Posted: 29/11/2024
The Pensions Ombudsman (TPO) has ordered two trustees, Brambles Administration, and and two trustee companies to repay £5.2m into three pension schemes, meaning that TPO's Pensions Dishonesty Unit (PDU) has now issued directions totalling more than £40m since its launch in 2022
Posted: 29/11/24
Defined benefit (DB) pension schemes should consider non-price factors when assessing buy-in or buyout insurers, Hymans Robertson has said
Posted: 29/11/24
Pensions Age takes a look back at the top stories of the week, including adequacy concerns, The Pensions Regulator’s (TPR) plans to move toward a more prudential-style of regulation, an influx of bulk purchase annuity (BPA) deals, and more
Posted: 29/11/24
The Royal Mail Collective Pension Plan, which officially launched on 7 October, will be delivered using the EQ Retirement Solutions’ (EQRS) Compendia platform, it has confirmed
Posted: 29/11/24
The Pensions Regulator (TPR) is moving towards a more prudential-style of regulation amid a "rapid" acceleration in the scale of workplace pension schemes, TPR CEO, Nausicaa Delfas, has said.
According to Delfas, recent analysis from TPR suggested that, even without government intervention, the master trust market will contain schemes of "systemically important size" in 10 years' time
According to Delfas, recent analysis from TPR suggested that, even without government intervention, the master trust market will contain schemes of "systemically important size" in 10 years' time
Posted: 28/11/24
Nearly three quarters (74 per cent) of UK defined contribution (DC) pension savers felt they were not on track to achieve a reasonable standard of living in retirement, a survey from BlackRock has found
Posted: 28/11/24
The majority (83 per cent) of advisers think that some combination of increasing minimum auto-enrolment (AE) contributions, lowering the age when contributions start, or both, should be made, analysis from Ipipeline has revealed
Posted: 28/11/24
Planning to achieve a comfortable retirement tops clients’ financial advice ‘wish lists’ over the next six months, but the peak age for it being an advice priority is not reached until the age of 55, according to research from St. James’s Place (SJP)
Posted: 28/11/24
UK pension funds are expected to be more resilient against climate change than their global peers, although some UK schemes could see their investment return declines exceeding 20 per cent from transition risks, analysis from Ortec Finance has revealed
Posted: 28/11/24
More than a third (39 per cent) of pension professionals think that wider promotion of pensions administration as a career is a priority in addressing pensions administration capacity challenges, according to a poll from the Society of Pension Professionals (SPP)
Posted: 28/11/24
The notion of a traditional retirement will be “retired” due to increasing life expectancy and financial necessity, according to a report by the International Longevity Centre (ILC)
Posted: 27/11/2024
Pensions Minister, Emma Reynolds, has been announced as the keynote speaker at the Pensions Age Spring Conference 2025
Posted: 27/11/24
Changes to inequality and saving patterns should be treated as “early warning signs” that can signal widening differences in living standards ahead, a new report from the Pensions Policy Institute (PPI) has warned
Posted: 27/11/24
Aviva Investors has launched its third Long-Term Asset Fund (LTAF), the Aviva Investors Multi-Sector Private Debt LTAF
Posted: 27/11/2024
The trustees of the Mitchells & Butlers Executive Pension Plan (MABEPP) have agreed a full scheme buyout with Legal and General Assurance Society Limited, the group's latest annual accounts have revealed
Posted: 27/11/24
The government has been encouraged to consider alternatives to its proposal of bringing pensions into scope of inheritance tax (IHT)
Posted: 27/11/24
The Rothesay Foundation has made a £2.47m donation to expand the Age UK benefits check service for older people, building on its 2023 pilot campaign
Posted: 26/11/24
An All-Party Parliamentary Group (APPG) call for evidence report has found “very significant shortcomings” at the Financial Conduct Authority (FCA)
Posted: 26/11/24
Trustees should not forget to focus on “the big picture” before delving into the details of the Defined Benefit (DB) Funding Code with their advisers, LCP has warned
Posted: 26/11/24
More than half (53 per cent) of pensioners don't like to ask for support from their friends or family, even if they need it, research from Royal London has found
Posted: 26/11/2024
The Pensions Ombudsman (TPO) has upheld a complaint against Mid Air Site Services Ltd for failing to pay contributions into a worker’s pension due to maladministration
Posted: 26/11/24
The Wednesbury Pension Scheme has completed a £43m buy-in with Just Group, securing the benefits of all 384 scheme members
Posted: 26/11/2024
Defined benefit (DB) pension transfer values fell by almost 2 per cent during October 2024, falling to their lowest value since October 2023, according to analysis from XPS Group
Posted: 26/11/24
Brits are delaying their retirement by an average of 3.9 years due to the high cost of living, research from Compare the Market has revealed
Posted: 25/11/2024
Defined contribution (DC) pension savers are at risk of an advice gap both at and in retirement, according to a study from Invesco
Posted: 25/11/24
The world's largest 100 asset owners now hold a record $26.3trn in total assets, although pension funds saw the smallest growth rate, with assets held rising by 8.9 per cent from the previous year, analysis from Thinking Ahead Institute (TIA) has revealed
Posted: 25/11/24
Almost a fifth (16 per cent) of people do not know when they will retire, including 16 per cent of those over 55, research from Hargreaves Lansdown has found
Posted: 25/11/24
The National Grid Electricity Group section of the Electricity Supply Pension Scheme has completed a £1.7bn buy-in with Aviva
Posted: 25/11/2024
An unnamed UK pension scheme has agreed a £500m bulk purchase annuity (BPA) transaction with M&G, in what is thought to be the market's first BPA deal to share value with a corporate sponsor
Posted: 25/11/24
Pensions Age takes a look back at the top stories of the week, including industry repsonse to the government's plans to extend collective defined contribution (CDC), updates on the Advice/Guidance Boundary review, and more
Posted: 22/11/24
Advised clients feel more confident about achieving their retirement goals after receiving financial advice, as demand looks set to increase amid a changing regulatory landscape, analysis from BNY Investments and NextWealth has found
Posted: 22/11/24
Defined contribution (DC) master trust outcomes for members have improved "significantly" since the period of gilt market volatility seen in 2022, Hymans Robertson's latest Master Trust Insights report has revealed
Posted: 22/11/24
The latest news in brief and mandates from the past seven days
Posted: 22/11/2024
Higher numbers of pension cyber incident reports have increased the response time of the Information Commissioner’s Office (ICO), according to research by law firm Eversheds Sutherland
Posted: 22/11/24
The majority of advisory firms expect to see a continuing "surge" in professional corporate sole trustee (PCST) appointments in the next 12 months, research from the Independent Governance Group (IGG) has revealed.
The survey found that, among the firms who expect to see more growth in PCST appointments, 31 per cent anticipate a ‘significant increase’ in demand during 2025, while the remaining 69 per cent expect a ‘slight increase’
The survey found that, among the firms who expect to see more growth in PCST appointments, 31 per cent anticipate a ‘significant increase’ in demand during 2025, while the remaining 69 per cent expect a ‘slight increase’
Posted: 22/11/24
A coalition of global investors managing assets worth more than $4trn has called on policymakers in the UK, US and EU to prevent rolling back equal voting rights for investors, citing evidence that robust investor protections are “vital for healthy capital markets”
Posted: 21/11/24
Liquid alternative assets can help UK pension schemes position their portfolios for greater resilience, while still meeting their return objectives, Aon has said
Posted: 21/11/2024
Retirees in 2034 will live for longer but will face "significant" challenges in achieving an adequate quality of life in retirement, according to a report from the Pensions Policy Institute (PPI)
Posted: 21/11/24
The winners of the 13th annual Irish Pensions Awards were announced on Wednesday night at the highly anticipated gala dinner at The Round Room at the Mansion House in Dublin
Posted: 21/11/24
Being retirement ready
Gavin Lewis, Head of UK and Ireland Institutional at BlackRock, talks to Francesca Fabrizi about the BlackRock 2024 UK Read on Retirement report, 'Ready or not. How are we feeling about retirement?’
Time for CDI
Laura Blows speaks to AXA Investment Managers (AXA IM) senior portfolio manager for fixed income, Rob Price, about cashflow-driven investing (CDI) in Pensions Age’s latest video interview
The role of CDC
In the latest Pensions Age podcast, Laura Blows speaks to TPT Retirement Solutions Chief Client Strategy Officer, Andy O’Regan, about the role of collective DC (CDC) within the UK pensions space
Keeping on track
In the latest Pensions Age podcast, Sophie Smith talks to Pensions Dashboards Programme (PDP) principal, Chris Curry, about the latest pensions dashboards developments, and the work still needed to stay on track
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