This week in pensions was subdued by usual standards, with a New Year's hangover still gripping the industry.

Reflecting on 2024, PensionBee found that confidence in retirement prospects among Brits "surged", with its pension confidence indicator rising from -10 in December 2023 to +29 in December, highlighting growing optimism about financial futures.

Pension saving also remains a top three financial priority for 11 per cent of savers heading into 2025, according to research from Aegon.

The company noted that while this figure may seem low, it remains unchanged from last year, which could suggest that short-term bumps like high inflation have not impacted attitudes to long-term savings.

However, research from Barnett Waddingham revealed a "significant gap" between Britons' expectations for retirement and the financial realities they may face.

The study, titled "The At Retirement Reckoning", surveyed over 5,000 UK workers and concluded that "woefully inadequate" pension savings will fall far short of potential residential care costs in retirement.

Looking ahead to 2025, 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.

However, 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 about the road to recovery for the UK economy.

The latest data showed that the 10-year gilt yield had risen to 4.79 per cent, while the 30-year yield had increased to 5.35 per cent amid an intensified global government bond selloff.

Meanwhile, Monday marked national 'divorce day', during which industry experts warned that pensions are still being "widely underestimated" in divorce proceedings.

Analysis from Interactive Investor revealed that spouses could be missing out on up to £665,000 by excluding pensions in divorce settlements.

Experts have also urged retirees to 'shop around' for the best annuity rates, after an analysis by Just Group found that annuity rates offered to a 70-year-old aren't automatically better than those available to a 65-year-old.

This week saw a renewed focus on cybersecurity, with Railpen and Royal London Asset Management sharing guidance on cybersecurity risks in investment portfolios and urging investors to recognise the financial materiality of cybersecurity to their portfolios and take the necessary steps to address it.

Finally, research by Oxford Risk found that women over 55 receive, on average, almost £6,000 less in annual pension income than men of the same age.

Oxford Risk also found that women over 55 are more likely to face financial shortfalls than men.

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