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PLSA becomes Pensions UK

The Pensions and Lifetime Savings Association (PLSA) has become Pensions UK as it launches an ambitious new strategy for the next decade and beyond.
Posted on Wednesday Jul 2

Comment on the IFS Pension Review

Mike Ambery, Retirement Savings Director at Standard Life, comments on the Institute for Fiscal Studies’ Pension Review
Posted on Wednesday Jul 2

Checklist for sponsors of DB pensions looking to run on

Hymans Robertson has published a checklist to help sponsors of defined benefit (DB) pension schemes establish a plan for run-on as they face a constantly shifting regulatory landscape. Over half (52%) of attendees at a recent webinar hosted by the firm said that regulation posed the biggest risk to their run-on strategy. The checklist is designed to help them minimise this risk and navigate their way through the increasingly complex decisions.
Posted on Wednesday Jul 2

Good news for firms who have written DB transfer advice

Expected redress payments arising from Defined Benefit transfer advice remained broadly stable during the second quarter of 2025. First Actuarial’s Redress Tracker shows that the likely redress on a book of Defined Benefit transfer advice remains below 5% of the total transfer value, despite market volatility during the quarter.
Posted on Tuesday Jul 1

Why Bitcoin matters to Pension Schemes

Back in November 2024, Cartwright Pension Trusts announced its role in facilitating the first-ever UK DB pension trust investment in Bitcoin. With the small 3% allocation proving a success for the client, they estimate that bitcoin has a legitimate role for c500 DB trusts and the majority of DC trusts. However, they also recognise that bitcoin is a polarising topic, as is often the case with new innovations.
Posted on Tuesday Jul 1

Fair play off the pitch

Male players in the English Premier League earn an average of more than £3 million per year, while their female counterparts average around £47,000. The gender pension gap in the UK is estimated to be more than double the gender pay gap - up to 40.5%. Women are 20% more likely than men to reduce pension contributions in times of financial pressure
Posted on Tuesday Jul 1

94 percent view State Pension as an entitlement not benefit

Majority of adults aged 66+ say that Triple Lock is affordable and fair to older generations. Around one in seven rely on the State Pension to provide over 90% of retirement income
Posted on Tuesday Jul 1

Bulk annuity pricing for pensions at best level for 2 years

Aon has said that the UK defined benefit pension scheme bulk annuity market is seeing the best pricing for over two years.
Posted on Monday Jun 30

Alarms flashing red for pension savers

New analysis finds urgent need for improvements in contribution levels, investment performance, fee awareness and saving timelines. Long-term retirement security at risk for many as understanding and knowledge remains low
Posted on Friday Jun 27

Transfer Value Index hits third consecutive record low

XPS Group’s Transfer Value Index fell to a new month-end low in May 2025, the third consecutive monthly record. The Index fell to £137,000 during the month, matching the mid-month low seen in April 2025. This decline reflects small increases in gilt yields across the month, whilst future inflation expectations have remained stable.
Posted on Wednesday Jun 25

HMRC policy change broadens VAT recovery for DB pensions

HMRC has introduced a more generous VAT policy that will allow some businesses to recover more VAT from defined benefit (DB) pension schemes they support. However, with complex rules and documentation requirements, Richard Holm, tax partner at RSM UK, examines the new policy in more detail, and the potential tax implications for employers and trustees.
Posted on Wednesday Jun 25

Gen Z urged to stick with pension saving

Starting pension contributions aged 22 could mean £40,000 more in retirement than starting aged 27. Those who wait even longer, starting at 32, could have £74,000 less in retirement. Standard Life highlights the benefits of earlier investment in your pension, offering tips to maximise retirement savings.
Posted on Tuesday Jun 24

Rising costs of TPS and STPS burdening independent schools

Over 400 independent schools have left the Teacher’s Pension Scheme (TPS) since 20191. TPS cost increases make it less financially viable. Independent schools are balancing redundancy and pay against TPS. Alternative pension provisions for teachers must be made carefully.
Posted on Thursday Jun 19

Retirement checklist planning for the future in later life

Fidelity’s analysis of the latest PLSA Retirement Living Standards reveals what it really takes to retire comfortably in 2025. Research shows a growing focus on retirement savings, particularly among over-55s and mid-life workers looking to retire early or reduce hours. Fidelity International highlights how savers can stay on track financially as they move closer to retirement
Posted on Wednesday Jun 18

Index shows gender differences in pension trust and outlook

Trafalgar House has unveiled new findings from their fifth Trust & Confidence Index of the pensions industry, revealing a significant gender divide in how people perceive the pensions industry.
Posted on Wednesday Jun 18

Government and Regulator give schemes impetus on endgame

Building on LCP’s new Accounting for Pensions 2025 report that was released last month, the latest results by LCP’s Pensions Explorer at 31 May 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 Wednesday Jun 18

First operational DB superfund transaction announced

Barnett Waddingham (BW) has led the advice for a landmark pension transaction that sees Church Mission Society (CMS) and the trustee of the CMS Pension Scheme agree to transfer members to Clara-Pensions – the UK’s first and only operational defined benefit superfund.
Posted on Tuesday Jun 17

Average pension transfer takes 11 days in busy tax year end

Simpler pension transfers took an average of just 11 days to complete in the lead up to one of the busiest times for the industry as the 2024/25 tax year end approached, the latest Origo data reveals – with half of all transfers also completed in seven working days or less.
Posted on Tuesday Jun 17

Customer experience must improve for civil service pension

Cabinet Office has been unable to hold the current pension scheme administrator, MyCSP, accountable for when performance has fallen below agreed service levels or incentivise improvements through its contract. Alongside a rise in complaints, over the last two years MyCSP failed to answer calls within expected timeframes, answering at best 43% of calls within the target of 30 seconds. Capita is set to take over the administration of the scheme in December 2025, with the agreed total contract price representing savings of £83 million – but Capita has so far missed three key milestones, leading to Cabinet Office withholding £9.6m in transition payments.
Posted on Monday Jun 16

Pensions has come to TikTok

Last month, Ofcom reported that TikTok was the most popular main app for those aged 16-24, and the most popular social media app for adults in 2024.
Posted on Monday Jun 16

Underpins and better of tests found to be most complex

Industry polling by the Society of Pension Professionals (SPP) has found that 75% of pension professionals who attended a recent event on risk transfer, identified underpins and “better of” tests as the most challenging or complex benefit to simplify.

Posted on Friday Jun 13

Are small pots a future route to greater DC consolidation

Automatic enrolment and frequent job switching have led to a surge in small, dormant pension pots, now a growing challenge for Government. In response, ministers have confirmed plans to move ahead with reforms aimed at consolidating the DC pensions market, with a clear ambition to create: “fewer, larger, better well-run schemes
Posted on Thursday Jun 12

Workers in the dark on their pension savings

Two in five (43%) UK workers don’t know how much they are contributing to their workplace pension, new insight from Scottish Widows’ Retirement Report reveals.
Posted on Thursday Jun 12

Who is caring for carers pensions

now:pensions highlights the growing pensions gap for careers during National Carers Week. The report reveals carers are retiring with significantly less private pension income than the national average.
Posted on Thursday Jun 12

Pension funds urged to review their FMs performance

Barnett Waddingham’s Fiduciary Management (FM) Investment Performance Review has revealed that while most fiduciary managers achieved their investment objectives in 2024, longer-term performance was more muted, particularly for those targeting higher returns.
Posted on Thursday Jun 12