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Comments on DWP small pot consolidation proposals

Broadstone and Lumera comment on he DWP publishing its proposals for the automatic consolidation of deferred small pots via consolidator schemes.

Posted on Tuesday Sep 15

Triple Lock debate intensifies

State Pension expected to rise by 3.9% from April 2027, with earnings growth likely to determine the Triple Lock. A 3.9% increase would take the full new State Pension from £241.30 to around £250.70 a week - approximately £13,036 a year, putting the full new State Pension around £466 above the frozen tax-free £12,570 Personal Allowance. PensionBee says any debate over Triple Lock reform needs to be considered alongside the State Pension age, auto-enrolment adequacy and efforts to tackle the severe gaps in private pension saving faced by those excluded from the system such as the self-employed and low-earners.
Posted on Tuesday Sep 15

Warning against one size fits all Value for Money framework

Hybrid schemes exemption should be retained as Government expands scope of reforms. The Pensions Management Institute (PMI) has urged the Government to retain an exemption for hybrid pension schemes within its proposed Value for Money (VfM) framework, warning that extending the regime to schemes it was not designed for could increase costs and regulatory burdens without delivering meaningful benefits for savers.
Posted on Tuesday Sep 15

Digital pensions revolution must not leave savers behind

The Society of Pension Professionals (SPP) has published a new thought leadership paper, “Pensions in a Digital World: Embedding Inclusion”, urging the pensions industry to ensure that digital transformation works for every saver, not just those who are digitally confident.
Posted on Tuesday Sep 15

Comments as pensions on track for 3.9% state pension hike

Hargreaves Lansdown and Broadstone comments as average earnings growth (including bonuses) was 3.9% for May-July. This is a key figure in the triple lock formula alongside 2.5% and September’s inflation figure (published in October). Current inflation is 2.9% making it likely that wages will be the key figure used. The state pension is the foundation of retirement income but will only cover the essentials.
Posted on Tuesday Sep 15

AI data rules must reflect the realities of pension schemes

The Government’s approach to data regulation in the age of artificial intelligence (AI) must take greater account of the specific realities of pension schemes, says ZEDRA.
Posted on Monday Sep 14

Only two in five know where all their pensions are held

Only 40% of UK adults know where all their private and workplace pensions are held. Nearly half say their annual pension statement doesn't help them understand whether they're saving enough for retirement. One-in-six (16%) don't know where any of their pensions are held at all. Mylo at Aegon helps locate lost workplace pension pots and bring pensions together to create a clearer view of retirement savings.

Posted on Monday Sep 14

SPP backs VFM framework with proportionate implementation

In response to the FCA’s latest consultation on its Value for Money (VfM) framework, the Society of Pension Professionals (SPP) has confirmed it supports the proposals and its phased implementation, welcoming measures to ease the initial burden on schemes and providers.
Posted on Friday Sep 11

Index shows both schemes hold steady through August

The ‘growth focused’ scheme funding improved marginally from 94.1% at the end of July to 94.2% by the end of AugustThe ‘matching focused’ scheme funding fell marginally from 89.9% at the end of July to 89.8% at the end of August. The Broadstone Sirius Index – a monitor of how various pension scheme strategies are performing on their journeys to low dependency – posts its latest update.
Posted on Friday Sep 11

Beyond Drawdown

With default pension benefit solutions (guided retirement) taking shape, solutions from flex & fix to insured drawdown and Retirement CDC are being considered by the pensions industry i.e. they are looking beyond traditional drawdown solutions to deliver innovation. As a result, the Society of Pension Professionals (SPP) held a webinar on “Innovation in DC Retirement Solutions”.

Posted on Thursday Sep 10

Summer’s over, saving is on

Putting the equivalent of the average annual cost of raising a child into a pension for 18 years could add around £351,000 to retirement savings. Even contributing half that amount could add around £175,500. As families emerge from a potentially expensive summer, ‘Dual Income, No Kids’ households may have greater financial headroom
Posted on Thursday Sep 10

6m+ unsure how they'll pay rent or mortgage in retirement

18.7 million people expect to pay housing costs in retirement or are already doing so. 16 million UK adults expect to pay housing costs in retirement. Over six million of those don’t know how they’ll fund the cost
Posted on Wednesday Sep 9

Put off by student debt?

Parents using pension savings to cover the full cost of a child’s university education could have £119,000 less at retirement. For a child studying in London, the potential pension hit rises to £140,000. 11% of parents are financially supporting adult children help with university fees to reduce student debt. Nearly three quarters (74%) of parents supporting adult children say it has affected their own finances
Posted on Tuesday Sep 8

Comments on latest PPF 7800 figures from the PPF

Broadstone and Gallagher comment on the aggregate surplus of the 4,838 schemes in the PPF 7800 Index edged up slightly through August 2026, increasing by £2.3 billion to reach £273.6bn (end of July: £271.3 billion) in surplus. Over the past year, the aggregate surplus has risen by £39.3bn. The funding ratio also grew by 0.4pp from 133.0% to 133.4% at the end of August, while the number of schemes in surplus saw an increase of 17 to 3,838 representing nearly four in five (79.0%) of all schemes in the universe.
Posted on Tuesday Sep 8

PPF publish latest PPF 7800 figures for August 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 Sep 8

The generation that cannot picture retirement

11% of Gen X say they can't picture their retirement at all, more than double the rate of any other generation (5% of Gen Z, 6% of Millennials, 1% of Baby Boomers). 56% of Gen X did not seriously think about their pension until they were 46 or older. Gen X are the most likely generation to feel indifferent about retirement (11%). Nearly half of Gen X (48%) feel they have left retirement planning too late, the highest of any generation.
Posted on Tuesday Sep 8

Dashboard programme could help bereaved families on IHT

As Pensions Awareness Week approaches (September 14 – 18) RSM UK says the government’s pensions dashboard programme could hold the key to helping bereaved families identify pension pots of deceased relatives, which may be subject to Inheritance Tax (IHT) from next year.
Posted on Monday Sep 7

Focus on scale should be to drive better outcomes

TPT Retirement Solutions (TPT) has submitted its response to the Department for Work and Pensions’ (DWP) discussion paper on key elements of the Scale Policy.
Posted on Monday Sep 7

Don't just grow your pension. Help it flourish!

People across the UK have a timely reason to focus on their long-term financial security, with Pension Awareness Day taking place on Tuesday 15th September. Yet retirement can feel distant, and many people assume growing a pension is a lengthy chore. That can mean it is neglected altogether.
The giant vegetable growers featured in this year's Pension Engagement Season campaign offer a more memorable lesson. Growth doesn’t come from planting a seed and hoping for the best; it comes from putting in consistent time and effort. The same is true of pensions. A few practical actions now can give retirement savings more opportunity to grow over time.
Posted on Monday Sep 7

Prison for directors behind £70 million pension fraud scam

Three men were sentenced today for a £70 million pension fraud scam. Around 3,000 UK investors were persuaded to take money out of their pension funds and invest in a forestry scheme in Costa Rica. The trees were planted, but no plans were made for harvesting them, so they would never have made a return. The case presents a stark warning for anyone contacted by organisations or individuals promising similar outcomes.
Posted on Friday Sep 4

2,000+ private sector DB schemes to survive the next decade

With new ideas and innovations reshaping scheme design, funding strategies and endgame planning across the DB market, the Society of Pension Professionals (SPP) held a webinar on the evolving DB market. Attendees were asked approximately how many UK private sector DB schemes they thought there will be in 2035, compared to the roughly 5,000 private sector DB schemes currently in existence.
Posted on Friday Sep 4

Early planning key as DB surplus choices become more complex

New analysis from LCP sheds light on how trustees and sponsors are approaching surplus distribution as schemes move towards wind-up. With proposed changes to DB surplus flexibilities potentially widening the options available to schemes, LCP says it will be increasingly important for trustees and sponsors to understand the approaches being taken elsewhere, while taking account of their own specific circumstances.
Posted on Thursday Sep 3

Charity DB schemes must prioritise endgame decisions

UK charity pension schemes must shift their focus from deficit recovery to long-term strategic decision-making, including endgame, as many are now either in surplus or approaching full funding, says Hymans Robertson as it releases their annual analysis into the sector.
Posted on Thursday Sep 3

FCA bans and fines Daniel Thomas for pension transfer advice

Mr Thomas has referred his Decision Notice to the Upper Tribunal where he will present his case. Any findings in the Decision Notice are therefore provisional and reflect the FCA’s belief as to what occurred and how it considers his behaviour should be characterised. The FCA will take no action against him until the Tribunal reaches its decision, which will be published on its website.
Posted on Thursday Sep 3

Savers want best returns wherever their pension is invested

Most pension savers want their money invested wherever the best growth is delivered, and would only want a greater share of their pension fund being allocated towards the UK if this was supported by the prospect of improved returns, according to new PensionBee research.
Posted on Thursday Sep 3