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Responses to TPRs AI guidance

SPP, Aon and Sackers respond to The Pensions Regulator's AI Guidance
Posted on Friday Oct 30

Small Pots stronger safeguards

Responding to the current government consultation on small DC pension pot consolidation, the Society of Pension Professionals (SPP) has called on the Government to strengthen its proposals, warning that effective implementation will depend on robust safeguards, reliable data and consolidators’ ability to deliver good outcomes for members.
Posted on Thursday Oct 29

TPR urges schemes to embrace AI opportunities responsibly

The Pensions Regulator (TPR) has published new guidance encouraging trustees of pension schemes to explore how artificial intelligence (AI) could deliver better member outcomes while understanding and managing risks.
Posted on Thursday Oct 29

The Top Annuity Myths Busted

Nearly a third (30%) of UK adults aged 50 and over feel annuities are too difficult to understand, with women more likely to feel unsure than men. 17% mistakenly believe annuity funds cannot be passed on after death. One in five (20%) incorrectly believe annuities are only available once they have fully stopped working. L&G has launched a new ‘Annuity Myth Busters’ to address common misconceptions around annuities and how they work

Posted on Thursday Oct 29

Dashboard connection deadline imminent next phase vital

With the long awaited deadline for connecting to the MoneyHelper Pensions Dashboard now imminent, in the below comment, Lumera discusses what schemes must do next to ensure they are ready for public launch and can deliver a seamless experience for members.
Posted on Thursday Oct 29

Budget is one step forward two steps back for entrepreneurs

The Autumn Budget risks undermining the Government’s ambition to help British entrepreneurs start, scale and stay in business, sending mixed messages with changes to the tax framework, PensionBee has warned.
Posted on Thursday Oct 29

New Pensions Tax Allowance as State Pension rise confirmed

Patrick Thomson, head of research analysis and policy at Standard Life Centre for the Future of Retirement comments: “Confirmation in the budget documents that the State Pension will increase by 3.9% next April will be welcome news for millions of pensioners, but it also means the full new State Pension will rise to £13,036.40, overtaking the frozen £12,570 Personal Allowance.
Posted on Wednesday Oct 28

Budget 2026 reveals future legislation for DC consolidation

As part of the Budget 2026, the government has announced that it will introduce legislation in a future Finance Bill to support the consolidation of Defined Contribution. This will also include the introduction of Guided Retirement and Retirement-only Collective DC (RCDC) schemes. The details can be found in the link below.
Posted on Wednesday Oct 28

Budget 2026 gives improved pension access to terminally ill

Jenny Holt, Product Director at Standard Life, said: “This is a welcome and compassionate change which should make it easier for people facing terminal illness to access their own pension savings when they need them most.
Posted on Wednesday Oct 28

Pensions in the Budget 2026

Broadstone and Hymans Robertson comment as there was little substantial change to the pensions system announced in today’s Autumn Budget. The Chancellor confirmed changes to the Triple Lock previously announced by the Prime Minister and announced a new Pension Tax Allowance to shield pensioners with income up to the value of the full new State Pension from incurring income tax.
Posted on Wednesday Oct 28

3.9% rise in Living Wage boosting pension contributions

Kate Smith, Head of Pensions at Aegon, comments on the 3.9% increase to the National Living Wage from £12.71 per hour to £13.20 an hour for over-21s effective April 2027:
Posted on Wednesday Oct 28

No further pension tinkering as Chancellor weighs tax rises

Isio experts outline their expectations for the Autumn Budget, examining developments in pensions taxation, personal financial planning, employee benefits and DC investment. Ahead of tomorrow’s Autumn Budget, the Chancellor faces mounting pressure to balance the public finances with the Government’s ambitions for economic growth.
Posted on Tuesday Oct 27

Looking into the Budget crystal ball

Standard Life considers what could be lurking in the Chancellor the Exchequers’ red box – and why the biggest opportunity for pension savers lies beyond Wednesday’s announcement. With Halloween just around the corner, the Chancellor of the Exchequer is preparing to reveal what lies ahead for the nation’s finances in Wednesday’s Budget. Pressure on the public purse and difficult tax and spending decisions mean there is plenty for savers to watch as the announcement approaches.
Posted on Tuesday Oct 27

Pension flexibility has hidden risk to millions of retirees

Default retirement options in new legislation risk exposing millions of UK pensioners to financial losses, according to a new report by BIT (the Behavioural Insights Team), commissioned by the Institute and Faculty of Actuaries (IFoA).
Posted on Tuesday Oct 27

Comment on reported pension tax changes

Reports suggest the Chancellor will use the Budget on Wednesday to raise the tax-free allowance for low-income pensioners to match the full new State Pension, ensuring those who rely solely on their State Pension do not pay income tax. The allowance would then rise in line with future State Pension increases over the course of the current Parliament.
Posted on Monday Oct 26

Cautious Carl and Secure Sue are nervous pension savers

Nearly half (46%) of over-50s prioritise security or making their pension last. A further quarter (23%) plan to phase into retirement while carefully using their pension. Caution dominates with just 8% feeling confident about managing their pension themselves and only 3% planning to spend their savings more freely in early retirement. The findings reveal distinct retirement ‘personas’, suggesting different savers need different types of support and engagement to boost pensions confidence
Posted on Monday Oct 26

State Pension could reach £33,000 a year by 2050

The proposed changes to triple lock could enable the state pension to reach £33,000 by 2050, while still reducing government spending by 4.6% within 25 years, according to analysis from Hymans Robertson.
Posted on Friday Oct 23

TPR guidance on “hidden” AI risks in pension portfolios

The Pensions Regulator (TPR) has today published guidance to help trustees identify and manage potential hidden AI-related investment exposure as artificial intelligence becomes increasingly influential across global markets. Investment in AI-related activity is growing across global markets, with reports showing that global private AI investment has more than doubled in 2025, rising by 127.5% year-on-year.
Posted on Thursday Oct 22

CDC outcome must look beyond the headline uplift

The potential for an income uplift with CDC (collective defined contribution) pension schemes and the opportunity to improve adequacy is only one element of the CDC comparison, says Hymans Robertson
Posted on Thursday Oct 22

DC Pension Tracker – Q3 2026

The Aon UK DC Pension Tracker rose sharply over the second quarter of 2026, with all our sample savers projected to see an increase in their expected future living standard in retirement. For the first time since our tracker began, one of our sample savers is projected to achieve a Comfortable Retirement Living Standard in retirement. Strong positive investment returns over Q2, particularly a rally in equity markets, pushed all other savers closer to achieving the Comfortable Retirement Living Standard, despite recent rises in the level of income needed to meet the same standard. Both the positive impact of April’s increase in the state pension and June’s increase to the Retirement Living Standards have been reflected in this update
Posted on Thursday Oct 22

Understanding Under Pressure

Pension withdrawal communications scored 4.3/5 for clarity, yet only 40% understood the investment options for their remaining pension savings. Redesigned communications made customers 2.5 times more likely to complete the process, with inbound calls falling from 40% to 24%Friction and complexity can create greater barriers for customers experiencing vulnerable circumstances. Standard Life turns three years of behavioural science research into a simple four-question framework that firms can use to assess customer communications and journeys
Posted on Thursday Oct 22

Mansion House Accord signatories £11.1bn in Private Markets

Workplace pension providers laid strong foundations in the first year of their commitment to invest more in UK assets, including infrastructure, property and private equity, under the Mansion House Accord. Joint tracking by the ABI and Pensions UK reveals Mansion House Accord signatories held £22.1 billion DC growth-phase assets in global private markets, with £11.1 billion in UK private markets, as of 31 December 2025. This equates to 6.6% of DC growth-phase assets invested in private markets, with 3.3% in the UK.
Posted on Wednesday Oct 21

Run-in strategies gaining traction with pension schemes

Aon has said that while the UK risk settlement market has maintained its level of activity in 2026, it is now set to increase significantly, with a number of factors driving the market’s expansion.
Posted on Wednesday Oct 21

Inflation figure of 3.5% takes State Pension above £13,000

September inflation figure of 3.5% confirms average earnings growth of 3.9% will determine the April 2027 State Pension increase, taking the full new State Pension above £13,000 a year for the first time. Government proposals to change the triple lock from 2030 raise fresh questions about the long-term future of State Pension increases. Less than half (49%) of UK adults aged 18 to 65 believe the State Pension will be available to everyone when they retire, down from 51% in 2025. More than half (51%) expect to work beyond State Pension age, rising to 58% of Millennials. Almost half (48%) of those yet to retire feel their retirement finances are driven mainly by factors outside their control

Posted on Wednesday Oct 21

TPT’s DB Superfund successfully clears regulatory assessment

The TPT Retirement Solutions Superfund has achieved a successful outcome following The Pensions Regulator’s (TPR) assessment process.TPT’s Superfund is designed to run on and uses a longer-term and diversified investment approach to create additional value over time, which is intended to be shared with members.TPT has secured capital to fund the first £1bn to £1.5bn of transactions and is in active discussions with prospective schemes.
Posted on Wednesday Oct 21