Pensions - Articles

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Pensions pay off for retirement savers despite IHT shake up

Pensions continue to offer strong value for savers, driven by tax relief that boosts long-term returns. A basic-rate taxpayer could accumulate around £7,400 more in a pension than in an ISA over 10 years by investing £20,000. Tax relief on pension contributions could offset additional inheritance tax charges post-April 2027 rule change

Posted on Thursday Feb 12

Pension transfer reforms risk creating a two tier system

PensionBee has called on the Financial Conduct Authority (FCA) to ensure that proposed reforms to pension transfers apply across the entire UK pensions market - warning that anything less would entrench a two-tier system and fail consumers.
Posted on Thursday Feb 12

DB surpluses reach £220bn as industry awaits access reforms

UK defined benefit (DB) pension schemes continue to maintain strong funding positions, reaching £220bn at the end January 2026 relative to long-term targets, new analysis from XPS Group shows.
Posted on Thursday Feb 12

Larger pension pots drive record year for annuity premiums

The total value of premiums paid into individual pension annuities grew 4% to £7.4 billion in 2025, according to the latest data from the ABI. This marks the highest annual level since pension freedoms were announced in 2014.
Posted on Thursday Feb 12

Partial reforms risk leaving millions with weaker protection

People’s Partnership has called for the FCA proposals (CP25/39) to apply to the whole defined contribution market, warning that partial reforms risks leaving millions of savers with weaker protections. While welcoming the FCA’s direction of travel, the provider of People’s Pension, said further improvements are needed to ensure consistent outcomes for all savers.
Posted on Wednesday Feb 11

Survey reveals divided confidence over VFM consultation

Sackers have announced the results of a recent webinar survey examining industry views on the proposed new Value for Money (VFM) framework for workplace Defined Contribution (DC) pensions which was launched jointly last month by government and regulators (DWP, FCA, TPR)
Posted on Wednesday Feb 11

PPF release latest PPF7800 figures for January 2026

This update provides the latest estimated funding position, based on adjusting the scheme valuation data supplied to The Pensions Regulator as part of the schemes’ annual scheme returns, on a section 179 (s179) basis, for the defined benefit pension schemes potentially eligible for entry to the Pension Protection Fund (PPF).
Posted on Tuesday Feb 10

Pension pitfalls putting employers at growing risk of errors

Employers are in danger of falling into ‘pension pitfalls’ created by complex pension legislation and increased minimum wage, claims Hymans Robertson.
Posted on Tuesday Feb 10

Roses are red loves here to stay single in retirement-£230k

With Valentine’s Day fast approaching, new analysis reveals how single retirees need almost £230,000 more in their pension pot than couples to achieve a ‘moderate’ standard of living in retirement. Standard Life compares the pension savings needed by single and couple pensioners to achieve Pension UK’s Retirement Living Standards: ‘minimum’, ‘moderate’, and ‘comfortable’
Posted on Tuesday Feb 10

£70bn pension risk transfer market forecast in 2026

The UK’s pension risk transfer market is poised for growth in 2026, with activity expected to surpass 2025 as larger schemes undertake more de-risking transactions.
Posted on Tuesday Feb 10

Regulators must be wary of adding costs and complexity

The Society of Pension Professionals (SPP) has responded to the current FCA consultation “Adapting our requirements for a changing pensions market” which closes this week. The consultation seeks industry views on rules proposed by the FCA to better support consumers using digital pension planning tools and consumers making non-advised decisions to transfer DC pensions.

Posted on Monday Feb 9

Funding for DB schemes makes more progress at start of 2026

Fully hedged scheme sees small funding level increase over January50% hedged scheme also improves position over the monthEncouraging start to 2026 following funding gains in 2025
Posted on Friday Feb 6

Beazley agree £8bn Zurich buyout as Iran tensions dominate

FTSE 100 scales fresh heights as its defensive qualities shine. Energy stocks and miners benefit as Middle East tensions rise. Insurer Beazley agrees £8 billion takeover by Zurich. End of US partial government shutdown set to provide a little lift. Companies are showing hesitancy to spend as the AI revolution rolls on.
Posted on Wednesday Feb 4

Older retirees lose out falling into best/worst income gap

Older retirees have most to lose by falling into the best/worst income gap, Just Group analysis reveals·Gap between the best and worst annuity rates increases with age. Retirees waiting until later in life to buy a Guaranteed Income for Life (GIfL) solution risk missing out on thousands of pounds extra by failing to shop around for the best deal.
Posted on Wednesday Feb 4

3 in 4 DC schemes to use LTAFs to access private markets

Almost three-quarters of UK defined contribution (DC) pension schemes (69%) are planning to access private markets through Long-Term Asset Funds (LTAFs), new research from Schroders in association with Longview Networks, can reveal.
Posted on Monday Feb 2

Pension overtaxation claims not slowing as £46m reclaimed

More than £46 million was reclaimed in overtaxation on pension withdrawals in October, November and December 2025, the latest HMRC figures reveal. During the quarter there were 13,652 reclaim forms processed, with an average reclaim of £3,388. Over £1.5 billion has now been reclaimed by people overtaxed on pension withdrawals since 2015. How taking a small withdrawal when you first access your pension could ease overtaxation pain. Alternatively, savers can fill out one of three HMRC forms and get their money back within 30 days
Posted on Thursday Jan 29

Record activity puts risk transfer past half a £tn milestone

Over £500bn of pension scheme liabilities have now been insured, following a record number of buy-ins and longevity swaps in 2025.
Posted on Thursday Jan 29

The emotional rollercoaster behind retirement decisions

New qualitative study explores psychological biases, decision-making processes, and lived experiences during the transition from saving to spending in retirement. Findings highlight complexity and emotional uncertainty, with people valuing flexibility and control but struggling with jargon and decision-making. Implications for bridging the advice gap: People’s experiences are far from uniform, creating both challenges and opportunities for Targeted Support, Simplified Advice and Guided Retirement as they move into the spotlight in 2026.
Posted on Thursday Jan 29

Thousands delay claiming State Pension to get higher payouts

Almost 42,000 people claimed a delayed State Pension in 2023/24 according to figures obtained by Royal London. People who delay claiming their State Pension for a year are entitled to higher payments. Delaying claiming the State Pension by a year means an extra 5.8% is added to your pension
Posted on Wednesday Jan 28

Funds are well positioned to improve the gender pensions gap

LGPS Funds should take the mandatory reporting of Gender Pensions Gap as an opportunity to support women, and work with employers toward reducing the difference in pension savings between men and women, says Hymans Robertson.
Posted on Wednesday Jan 28

9 in 10 say workplace pension influences staying or leaving

Research from Penfold reveals that workplace pensions have become one of the strongest, yet most overlooked, drivers of employee retention and morale across UK workplaces. Nine in ten UK employees say their workplace pension influences whether they stay with their employer or move to a new role, according to the latest research from Penfold, a leading UK workplace pension provider.
Posted on Monday Jan 26

Gold hits all time high but has it got a place in my pension

Gold has risen to above $5,000 (around £3,700) per ounce fuelled by geopolitical uncertainty. Standard Life explores some of the pros and cons of holding Gold in your pension… and the key things to be aware of
Posted on Monday Jan 26

Gilt yields settle at the end of 2025

XPS Group’s Transfer Value Index, which monitors how market developments impact the transfer value of a typical pension scheme member, remained consistent over Q4 2025, closing the year at £141,000. This reflects that Government bond yields have remained relatively stable following the Chancellor’s Autumn Budget. While the Index was more volatile in the first half of 2025, greater stability was seen at the end of 2025.
Posted on Monday Jan 26

New Technical Actuarial Guidance published

ACA Chair, Stewart Hastie, has welcomed the guidance issued today by FRC to help pension scheme actuaries provide retrospective confirmation to validate historic changes to pension scheme rules compliant with the appropriate requirements at the time.
Posted on Friday Jan 23

Salary sacrifice the elephant in the room

Data on tax reliefs from HMRC shows that National Insurance Contribution savings on pension contributions provided £23.5 billion of tax relief in 2023/24, an increase of £2.1 billion compared to five years prior.
Posted on Friday Jan 23