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Government push for early DB surplus access risks £3bn loss

67% of FTSE 350 firms could gain more by running on DB schemes beyond low-dependency buyout point – rising to nearly 95% for schemes over £2bn in assets. Optimising strategy across the DB market could unlock up to £60bn in surplus value for UK PLC. For one in ten businesses, surplus strategy could affect more than 5% of their total business value.
Posted on Thursday Jul 17

Sole trustees are now almost half of all PIT appointments

42% of Professional Trustee appointments to DB Pensions Schemes were sole trustees by March 2025, an increase from 37% in 2024 according to the latest annual report into the sector from Hymans Robertson.
Posted on Thursday Jul 17

Comment ahead of Pensions Review on Adequacy

The long-awaited Pensions Review on adequacy is expected to be launched before Parliament rises for Summer Recess next Tuesday, 22 July 2025, according to media reports.
Posted on Thursday Jul 17

The importance of pensions to the economy

Commenting on the Chancellor’s Mansion House speech last night, Hannah English, Head of DC Corporate Consulting says: “While last night’s speech was unsurprising and simple, the importance of pensions to the economy should not be underestimated.
Posted on Thursday Jul 17

Adequacy review needed now as pensions system stalls

The Pensions Policy Institute (PPI), the independent educational pensions research institute, has published its annual update to the UK Pensions Framework, revealing performance in the UK pensions system has stalled, with Adequacy and Fairness remaining weak components of the Framework and the gap between Sustainability and Adequacy widening.
Posted on Wednesday Jul 16

The price of advice and the power to boost savings

Regular contact with advisers reduces retirees fear of making poor decisions by 50%. Over three-quarters (77%) of UK adults who receive financial advice believe they’re better off as a result. Peace of Mind: Just 10% of those with ongoing advice worry they are making poor decisions, rising to 21% for those who take ad hoc advice
Posted on Wednesday Jul 16

Basic rate taxpayers in the dark on pension contributions

1 in 4 (24%) people don’t know how much they and their employer are paying into their pension. People were most likely to say they contribute somewhere between £101-200 per month (17%). Basic rate taxpayers (24%) are significantly more likely to have no idea how much money is being paid into their pension. This compares to 12% of higher rate and 2% of top rate taxpayers. 57% of basic rate taxpayers have between £1-£300 going in each month. 30% of additional rate taxpayers have between £1,501-£2,000+ entering their pension each month.
Posted on Tuesday Jul 15

A woman has 42p in her pension pot for every £1 a man has

Ahead of the Government’s expected update on the second phase of the pension review, please see below new research from Royal London that underscores why this next phase is so critical. It comes as our latest data found that men have an average of £92,000 in their pension pots while women having only £39,000. For every £1 a man has, a woman has 42p.
Posted on Tuesday Jul 15

When I’m 64

Almost half (48%) of retirees have retired at or before the age of 60. 46% of over-50’s planning to purchase a fixed-term annuity say they will do so at retirement to help bridge the income gap
Posted on Monday Jul 14

Support for PSB surplus changes and retirement solutions

Sackers has announced the results of its most recent webinar survey. Asked which policies in the Pension Schemes Bill they would prioritise, 36% of respondents supported the introduction of default retirement income solutions with a further 23% opting for surplus changes, with these areas of policy focus being preferred over value for money, deferred pots consolidation, “Megafunds” or “superfunds”.
Posted on Monday Jul 14

End pension purgatory with 10 day pension switch guarantee

In its second 10-day pension switch guarantee report, PensionBee lays bare the broken system enabling pension transfers to be delayed by months, and focuses on the consumers left anxious, frustrated and unable to take control of their financial future.
Posted on Monday Jul 14

Chancellors focus on guided retirement for pensions savers

Ahead of the Mansion House speech to be delivered by UK Chancellor Rachel Reeves on the evening of 15 July, Glyn Bradley, Chair of Pensions Board at the Institute and Faculty of Actuaries (IFoA), said:
Posted on Friday Jul 11

DC pensions continue to back Net Zero despite ESG backlash

Barnett Waddingham’s latest DC Sustainability Report finds a 34% increase in allocations to funds with a climate target in the growth stage since original 2021 report. Despite this, providers have on average 35% of growth assets exposed to investment managers who have stepped away from climate collaboration initiatives. Misalignment between UK DC schemes and global asset managers on sustainability requires a strategic shift to ensure ESG ambitions are fulfilled.
Posted on Friday Jul 11

PPF marks 20 years of protection in its Annual Report

The Pension Protection Fund (PPF) has published its 2024/25 Annual Report and Accounts, marking its 20th anniversary with a year of strong financial performance, continued customer service excellence, and enduring commitment to serving its members, levy payers, and the wider pensions industry.
Posted on Friday Jul 11

Pensions overhaul may unlock 25 percent of DB scheme value

The UK’s 5,000 corporate defined benefit (DB) pension schemes continued to record a significant surplus of £175bn in June 2025, according to PwC’s Low Resilience Index. This tracks schemes based on a low-risk income-generating investment strategy, which should mean the pension scheme is unlikely to call on the sponsor for further funding.
Posted on Thursday Jul 10

Pensions industry and regulator join forces on net zero risk

The Pensions Regulator (TPR) will work with industry stakeholders, advisers and professional bodies to develop and test a voluntary net zero transition plan template fit for occupational pension schemes, drawing on the work of the UK Transition Plan Taskforce (TPT).
Posted on Thursday Jul 10

Pension master trust ascendancy continues

40% of large pension schemes over £1bn are now in master trusts – matching own-trust schemes for the first time. 26% of assets in own-trust schemes are in self-select funds – compared to just 16% in master trusts. Own-trust schemes show slightly higher member engagement, with online usage, retirement planning actions and completion of expression of wish forms.
Posted on Thursday Jul 10

Endgames advance as 4th superfund transaction announced

Latest results by LCP’s Pensions Explorer at 30 June 2025 show that the combined IAS19 funding level for the UK pension schemes of FTSE100 companies remains strong at over £50bn (118% funding level).
Posted on Thursday Jul 10

Government urged to change the dial on pensions adequacy

Kate Smith, Head of Pensions at Aegon, calls for bold action in the Government’s pensions adequacy review, which may be announced in the Chancellor’s upcoming Mansion House speech. Aegon is urging the government to use the second phase of its Pension Review to define what pension adequacy means and to take steps to reduce pension inequalities in the UK.
Posted on Thursday Jul 10

DB pension transfer compensation stays low

Average DB transfer compensation remains low albeit compensation still due in many cases with each redress cases assessed on its own merits. CMCs shift focus to other areas where there has been ‘secret commission,’ including motor finance, AVCs and consumer credit
Posted on Wednesday Jul 9

Savers resoundingly back concept of Targeted Support

Consumers welcome Targeted Support’s potential to provide more relevant help with retirement income decisions, greater direction and the filtering out of information that isn’t relevant. Opportunity to reduce anxiety and sense of being overwhelmed when it comes to key retirement decisions. Acceptance that it’s possible to make suggestions for groups of consumers, that are relevant but not personal to them. Study participants recognise they are responsible for the decisions they take as a result of the service, and that they are being given suggestions based on their customer segment.

Posted on Wednesday Jul 9

OBR report on the unsustainable burden of the triple lock

Comment form Jon Greer, head of retirement policy at Quilter on the OBR's fiscal risks and sustainability report and in particular its forecasts around the State Pension costs:
Posted on Tuesday Jul 8

Comments on latest PPF7800 Index update for June 2025

Standard Life, Broadtone and Gallagher comment on the Pension Protection Fund’s 7800 Index update for June 2025 on the latest estimated funding position for all PPF-eligible defined benefit pension schemes. The aggregate surplus of the 4,969 schemes in the PPF 7800 Index increased by £9.4 billion through June 2025, rising from £221.1 billion to £230.5 billion. The funding ratio rose by 0.6 percentage points to 126.2% and the number of schemes in surplus rose to 3,635 representing nearly three-quarters (73.2%) of all schemes in the universe.

Posted on Tuesday Jul 8

PPF publish PPF7800 Index update for June 2025

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 Jul 8

Timing crucial for LGPS Access and Fairness proposals

LGPS administering authorities may struggle to deliver the changes proposed in the LGPS Access and Fairness consultation, because they are already delivering other time-intensive changes such as the McCloud remedy and connection to the Pensions Dashboard, argues Hymans Robertson.
Posted on Tuesday Jul 8