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TPR urges trustees to lead on climate risks as regulatory pressure ramps up


By Paige Perrin

The Pensions Regulator (TPR) has called on trustees to move beyond compliance and demonstrate leadership on climate and nature-related risks, as it steps up its expectations on investment governance.

In a blog post, TPR’s climate and sustainability lead, Mark Hill, called on trustees to engage with the government’s consultation on mandatory transition plans, describing it as an opportunity for trustees to “shape what good looks like”


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Uncertainty lingers despite govt plans to address Virgin Media ruling fallout

Whilst several UK businesses have been reassured by the news that the government will introduce legislation to deal with issues arising from the Virgin Media judgment, many are still monitoring the situation whilst awaiting the final legislative details

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Blog: In fine fettle

As God's own county celebrates another Yorkshire Day this Friday, 1 August, Natalie Tuck highlights the talent and vibrancy of the region's thriving pensions sector

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TPO upholds complaint against employer for maladministration

The Pensions Ombudsman (TPO) has upheld a complaint against Huma Kitchens Ltd after finding that the company failed to pay contributions into a worker’s Nest pension despite deducting contributions from her pay

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This week in pensions: 28 July – 1 August 2025

Pensions Age looks back on the key developments in the industry this week, including HMRC data, The Pensions Ombudsman’s new corporate strategy, and ongoing concerns around pension adequacy

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News in brief - 1 August 2025

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

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Pension adequacy concerns persist despite participation improvements

The vast majority (89 per cent) of eligible employees in Great Britain were saving into a workplace pension in 2024, with around 21.7 million eligible employees saving, figures from the Department for Work and Pensions (DWP) have revealed

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Brookfield Wealth Solutions announces plans to acquire Just Group

Brookfield Wealth Solutions (BWS) has announced plans to acquire Just Group for 220 pence per share in cash, in a move that the Chancellor, Rachel Reeves, has highlighted as a demonstration of the "strong faith" in the UK economy
Pension tax relief rises by over £6bn, fuelling Autumn Budget speculation

The estimated cost of gross pension income tax and national insurance contributions (NICs) relief rose to £78.2bn in 2023/24, up from £72.1bn the previous year, according to new figures from HMRC
Terex Pension Scheme completes buy-in with Aviva

The Terex Pension Scheme has completed a buy-in with Aviva, securing the benefits of all remaining members across three fully segregated sections of the scheme, following a partial pensioner buy-in in 2019
UK pension adequacy requires a 'structural reset', says Festina Finance

UK policymakers should reconsider the definition of pension adequacy and look to successful international examples for improved retirement outcomes, Festina Finance has suggested, emphasising that the UK’s pension adequacy requires a “structural reset"

Growing number of self-employed paying into private pensions

Industry experts have warned that despite an increase in the number of self-employed people making pension contributions, this remains a "drop in the ocean" compared with the level of savings needed
Annual reports reveal mixed DB pension funding updates

Several companies have published their 2025 half-year results, showing mixed outcomes regarding the funding of their defined benefit (DB) pension schemes, particularly in relation to surpluses


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Highlighted Content

Endgame: The steps to success

Just Defined Benefits head of proposition development, Andy Fryer, shares what he has learnt following his move from the consultancy side to now working for an insurer

Podcast: Who matters most in pensions?

CIn the latest Pensions Age podcast, Francesca Fabrizi speaks to Capita Pension Solutions global practice leader & chief revenue officer, Stuart Heatley, about who matters most in pensions and how to best meet their needs

Top tips for preparing your Own Risk Assessment

Susan Hoare explores how pension scheme trustees can get the most value from their first Own Risk Assessment (ORA).

Pension reform with long-term ambitions

The Pension Schemes Bill proposes a bold shift in UK pensions; delivering real value requires industry-wide effort

Surplus extraction is here: What should DB schemes do now?

L&G Head of Endgame Solutions, Mathew Webb, outlines what DB schemes should do now as surplus extraction rules evolve

LGPS: Staying on track

As the government ramps up its focus on the LGPS, our panel looks at what lies ahead for the scheme, the challenges it faces and the investment opportunities out there

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Shifting gears

As the pensions landscape consolidates and evolves, Paige Perrin examines how The Pensions Regulator is adapting its role by shifting toward a more ‘prudential’ style of regulation. But what does this mean for the industry, and how is it reshaping relationships between the regulators, pension schemes, and trustees?

Finally on target?

Callum Conway looks at why the freedom and choice reforms failed to close the pensions advice gap, and how targeted support might offer the solution

Getting to grips with the pension ethnicity gap

Pension engagement among non-white savers is still lagging, posing challenging questions for the industry to answer. As part of Pensions Age’s year-long focus on diversity, equity and inclusion (DEI), Jon Yarker finds out more

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Getting entangled in sustainable investing red tape

UK pension schemes have a unique role to play in driving sustainable impact, but complex rules are slowing momentum

Eyes on the prize

Regulators and policymakers continue to consult on whether DC schemes provide value

for money to members. But is there a risk their good intentions will be overwhelmed by other

political priorities? David Adams reports

Thinking differently

As part of Pensions Age’s year-long special focus on diversity, equity and inclusion (DEI),

Laura Blows explores neurodiversity and the pensions workplace

The best laid plans?

The government has confirmed that it will share a pension reform roadmap, but exactly what should be at the top of this list? Sophie Smith reports

Building a buy-in

Skipton group pensions manager, Andy Cheetham, pulls back the curtain on the pension scheme’s recent journey to a full buy-in

From data to delivery

Pensions Age sits down with Pension Administration Standards Association (PASA) chair, David Fairs, to discuss his newly appointed role and to find out how the association is raising administration standards and tackling data and dashboards challenges head-on

Trump’s tariffs spark a closer look at Europe

Sandra Haurant considers how Trump’s tariffs may have shifted investor attitudes towards the

European equities market

Inherited problems

The government’s plans to include pensions in the scope of inheritance tax has generated concern about how its rules can be feasibly implemented within the pensions industry. Laura Blows finds out more

Turning back time

DB schemes are currently enjoying funding surpluses, but haven’t we been here before? Laura Blows considers the changes and challenges that have occurred since the previous era of DB surplus in the 1980s/1990s, and the lessons to be learnt from that time

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A changing DC market
In our latest Pensions Age video interview, Aon DC senior partner and head of DC consulting, Ben Roe, speaks to Laura Blows about the latest changes and challenges within the DC sector

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?’

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Podcast: Who matters most in pensions?
In the latest Pensions Age podcast, Francesca Fabrizi speaks to Capita Pension Solutions global practice leader & chief revenue officer, Stuart Heatley, about who matters most in pensions and how to best meet their needs
Podcast: A look at asset-backed securities
Royal London Asset Management head of ABS, Jeremy Deacon, chats about asset-backed securities (ABS) in our latest Pensions Age podcast

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