Fiscal expansion, industrial policy, ageing societies and AI to transform global economy and risk landscape. Global GDP growth to stabilise at 2.5% in 2026 and 2.6% in 2027 with inflation to remain above 2% in advanced economies. Global insurance premiums to grow by 2.3% annually in real terms with life insurance premiums to be on track to reach USD 4.1 trillion by 2027
With just one week left until Chancellor Rachel Reeves’ second Budget, Tom Selby, director of public policy at AJ Bell, comments on the task she faces against a difficult fiscal backdrop:
This session provides a clear overview of the fundamentals of Risk Engineering and the vital role of real-time, accurate insights to improve portfolio performance, enabling smarter decisions to mitigate claims. The session also addresses how these capabilities & the use of AI to analyse data can support growth in a resource-constrained environment – where market expansion and client expectations for digital are driving evolutionary change.
Total fiduciary mandates decline, and assets remain flat for the first time since 2008, as UK defined benefit market matures. Buy-ins more than doubled year-on-year, with almost half (48%) of mandate reductions linked to insurance transactions. Seven in ten (72%) fiduciary management mandates have funding levels above 90%, and over one-third (37%) are fully funded – a 44% increase in three years. These trends reflect the market’s maturity and fiduciary managers’ strategic importance as they support more schemes to reach their endgame.
Our experts crunch the numbers and assess what a UK Budget clampdown on pension salary sacrifice might mean for employers and employees. On 8 November, the front page of The Times warned that Chancellor was looking to restrict employees' ability to sacrifice salary in exchange for higher employer pension contributions, saying: "Rachel Reeves is expected to use the Budget to cap the amount that can be sacrificed without incurring National Insurance payments at £2,000 a year".
Emma Holden joins as Chief People Officer. Andy Sinclair joins in the newly created role of Chief Strategy and Investor Relations Officer. Senior appointments to accelerate the delivery of L&G’s growth strategy set out in June 2024.
Standard life and Schroders comment as UK CPI falls to 3.6% in October ahead of next week’s Autumn Budget - but remains well above the Bank of England’s 2% target. Food inflation remains stubbornly high – placing pressure on household budgets and retirement incomes
The Society of Pension Professionals (SPP) has published a comprehensive paper on the issue of pre-1997 pension scheme indexation. Defined Benefit (DB) pension scheme members who accrued pension benefits before April 1997 do not have a statutory right to inflation-linked increases on that part of their pension. Many scheme rules require such increases to be paid, but a significant minority do not.
Commenting on the potential changes to pension tax ahead of the Chancellor’s Budget, Hannah English, Head of DC Corporate Consulting, Hymans Robertson, said: “We’re concerned to see speculation that the Chancellor may remove Salary Sacrifice on National Insurance Contributions over £2,000 in next week’s Budget.
Engagement exercise with hundreds of schemes reveals significant progress on data quality but some trustees place too much reliance on administrators. New guidance also published to help foster new era of robust, consistent data practices.
UK Consumer Prices Index (CPI) inflation held at 3.8% in September 2025 for a third consecutive month. While the Central Bank expect a steady return to its 2% target over the next couple of years, global tariffs, robust UK wage growth and ongoing geopolitical tensions mean that inflation risk remains. This article explores practical ways that short-term investors can manage inflation risk within their fixed income portfolio through: inflation-linked income (the bedrock of your solution); duration management (keep it low); and active asset allocation and diversification.
XPS Group estimates UK DB pension schemes maintained a £240bn aggregate surplus against long-term funding targets, up £4bn in October 2025 and £57bn year-on-year.
Just Group launches its 13th Care Report: Social Care Reform - Stuck in the Waiting Room. Over-45s twice as likely to agree than disagree that the problems facing adult social care have worsened since Labour gained power. 62% do not believe that the government is doing a good job on social care and only 10% are confident it can fix the long-term problems. Casey Commission on social care launched by the Government not scheduled to report back to the Prime Minister until 2028
Aviva has announced the completion of a £600 million bulk purchase annuity buy-in with the Trustee of the Wolseley Group Retirement Benefits Plan (the Plan). Finalised in September 2025, the transaction provides long-term security for the benefits of nearly 10,000 members. The buy-in secures all remaining uninsured defined benefits in the Plan. The Trustee was advised by Aon as lead transaction adviser and CMS provided legal advice. The Company was advised by LCP and Freshfields.
Only 3% of people think they won’t be affected by Budget tax rises - from income tax to council tax, inheritance tax, capital gains tax, stamp duty and VAT. Just 3% of people say they would be happy to pay more tax after the Budget – falling to 2% among women and the squeezed middle (aged 35-54). There’s only nine more days until the Budget, but there’s still time to protect yourself.
The cricket teams of England and Australia resume their near 150-year-long hostilities on Friday [21 November] as another battle for The Ashes commences. Much has been made of the unusually old Australian squad, but while the players are mature by historic standards, they are not yet pensionable.
PPF proposes a zero PPF levy for conventional schemes. Zero levy dependent on remaining passage of levy measures in Pension Schemes Bill. To align decision making with Bill progress, PPF proposes flexible approach. Consultation sets out changes to ACS levy; invites views on future methodological review.
£1,427 shortfall between the ‘minimum’ of the PLSA’s Retirement Living Standards and the full new State Pension. A pensioner living only on the full new State Pension would exhaust their annual pension income this weekend spending at a daily rate equal to this ‘minimum’ Standard. Retirees must find significantly more annual income to achieve the higher ‘moderate’ or ‘comfortable’ of the PLSA Retirement Living Standards
Welcome to the 2025 Actuarial Post Awards. We would like to announce, that after yet another record number of nominations for the Actuarial Post Awards that you can now vote for the nominees that made the shortlist in their category. We would like to thank our sponsors who continue to support the awards, Pension Insurance Corporation (PIC), Bolton Associates and Star Actuarial Futures. We would also like to thank you once again for joining us as we continue to celebrate and reward the talent and achievements of individuals in the actuarial arena.
WTW, Rathbones and Hargreaves Lansdown comment as Labour is reported to have ditched their plans to increase income taxes. This would be a meaningful U-turn and potentially has big consequences for future debt affordability.
Prudential Regulation Authority’s (PRA) LIST25 stress test assesses UK bulk purchase annuity insurers' resilience under severe scenarios, with firm-level results published publicly for the first time. The Prudential Regulation Authority (PRA) launched its Life Insurance Stress Test 2025 (LIST25) towards the end of 2024. LIST is a biennial exercise designed to assess the resilience of the UK life insurance sector under severe but plausible adverse conditions.
Budget rumours have hit the pound on concern of a funding shortfall. Fed banking chief casts doubt on December rate cut, causing a global stock market slump. Economic data from China falls short of market expectations.
L&G’s Retail business has appointed Donna Cowell to the newly created role of Head of Reinsurance, UK Protection. Donna will work across both L&G’s Retail and Group Protection businesses to deliver a joined up and effective reinsurance strategy, reporting into Pippa Keefe, the Commercial Director of Retail Protection.
New research from Consumer Intelligence highlights a significant disconnect between the insurance industry's use of terminology and consumer understanding, with over one in three (38%) UK drivers reporting unfamiliarity with the term "telematics" a concept the industry has been promoting for more than two decades.
Just two in ten men believe they are at high risk of developing cancer. Two-thirds (66%) don’t realise the impact of genes and ethnicity in the risk of developing cancer. Bupa and Prostate Cancer UK announce new partnership, encouraging men to proactively check their prostate cancer risk and get checked.