Pensions - Articles

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Value for Money metrics can improve pension decisions

New groundbreaking research from People’s Pension and the Behavioural Insights Team (BIT) provides compelling evidence that ‘Value for Money’ (VfM) metrics can help consumers more effectively compare different pension products. Previous research has found that most consumers struggle to effectively identify higher value pension options.
Posted on Wednesday Oct 15

New viewpoint is a dramatic turnaround in scheme funding

For many years, the challenge of funding Defined Benefit pension schemes was a ‘millstone around the necks’ of many sponsor companies. Large and volatile deficits created headaches for employers, and the cost of passing their scheme to an insurance company (through a ‘buy-out’ transaction) was often prohibitive.
Posted on Wednesday Oct 15

Gen Z dream of retiring at 60

Gen Z hope to retire at 60 – earlier than any other generation and well ahead of state pension age. Yet only 13% are prioritising pension saving and 59% believe minimum auto-enrolment contributions will be enough to fund their retirement. A digital first approach for advice: 22% get retirement advice from social media and 19% from AI. A higher-risk approach to saving: 25% have invested in stocks and shares, and 25% have invested in crypto. Over a third (35%) of Gen Z prefer to ‘live for today than plan for tomorrow’
Posted on Wednesday Oct 15

Pension engagement and profitability go hand in hand

UK businesses that actively engage employees in their pensions are also seeing stronger financial performance—highlighting a powerful alignment between workforce wellbeing and commercial success, according to a new report from Scottish Widows.
Posted on Wednesday Oct 15

ONS data shows almost 5 percent State Pension rise likely

Comment from Jon Greer, head of retirement policy at Quilter, on the revised ONS wage growth figure: “The ONS’s revision of average earnings growth to 4.8% confirms that the state pension will rise by the same amount next April. For individual pensioners, the increase due to the earnings revision is modest, around 25p a week for those on the full new state pension compared to the previous uprating figure of 4.7%. The real impact is on the public finances, where the cost of uprating pensions continues to spiral.
Posted on Tuesday Oct 14

Industry comments on PPF 7800 update for September 2025

Gallagher and Broadstone comment as the aggregate surplus of the 4,969 schemes in the PPF 7800 Index rose by £16.2 billion through September 2025, increasing from £238.9 billion to £255.1 billion in surplus. The funding ratio likewise grew by 1.7 percentage points to 129.8% and the number of schemes in surplus increased to 3,725 but represented three-quarters (75.0%) of all schemes in the universe.
Posted on Tuesday Oct 14

PPF publishes latest PPF 7800 update for September 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 Oct 14

Regulatory risk remains high on the list of schemes concerns

Aon has released the UK results of its ‘Global Pension Risk Survey 2025/26’, which highlights regulatory risk as a continuing concern for defined benefit (DB) pension schemes.
Posted on Tuesday Oct 14

No retirement plan leaves you four times more stressed

Almost a third of people in the UK admit to having no plan for their finances in retirement (30%). People without plans are four times more likely to feel stressed about their long-term finances (46%), compared to those with well-developed plans (11%).
Posted on Tuesday Oct 14

12 tax rises next year you will not hear about in the Budget

Every year, a number of tax thresholds and allowances stay frozen – and not just the ones you hear about. Some of these haven’t changed for forty years – others have been cut and then frozen. It means that price and wage inflation have left these allowances in their wake, and each year they get less generous once inflation is taken into account.
Posted on Monday Oct 13

Guided retirement and targeted support a turning point

Zedra said that the forthcoming introduction of guided retirement duties for trustees alongside the FCA’s targeted support framework, has the potential to transform retirement outcomes for DC savers if approached in the right way.
Posted on Monday Oct 13

Retirement Reimagined as report maps out pension reform

A report says the UK’s retirement system is built on outdated assumptions: people retire at 65, live modestly for a decade, and state and workplace pensions suffice. That era is over. Today brings longer lives, rising inequality, insecure housing, and fragmented savings – with millions working hard all their lives, yet falling short of dignity in retirement.
Posted on Monday Oct 13

The true scale of Britain's pension fragmentation crisis

Lisa Picardo, Chief Business Officer UK at PensionBee commented: “This report exposes the true scale of Britain's pension fragmentation crisis - and makes the case for a 10-day pension switch guarantee crystal clear. With over 3.5 million people holding multiple pots across just five workplace pension providers, we're looking at billions trapped in a slow, outdated system.
Posted on Friday Oct 10

TPR welcomes data from Pensions Data Project on small pots

The Pensions Regulator (TPR) has welcomed a report published today by the Pensions Data Project highlighting the vital role that master trusts can play as default consolidators of small DC pension pots.
Posted on Friday Oct 10

Triple lock sustainability creates generational tension

New research from PensionBee reveals a sharp generational divide over the future of the State Pension triple lock, highlighting the growing challenge for the Government as it prepares its Autumn Budget against a backdrop of strained public finances. The debate continues to intensify despite the Government’s repeated assurances that the triple lock would be maintained until the end of parliament.
Posted on Thursday Oct 9

Over 2m pension pots from 5 providers could be consolidated

First large-scale dataset of individual retirement savings from five major UK master trusts, covering close to half the UK’s workforce, estimates over 2 million deferred small pots across the five schemes could be consolidated if they all became default consolidators under current government proposals. Individual pot sizes have grown but remain modest, with an average pot value of £3,109 in 2022/23. Members of the five providers hold an average 1.3 pots, reflecting job changes and churn in the labour market, but the figure could rise when pots from other types of pension schemes and funds are also considered.
Posted on Thursday Oct 9

Targeted support to benefit Mutuals and Friendly Societies

Targeted support could enable mutuals to guide members towards long-term value. However, the Regulator must provide clarity around direct marketing and show proportionality.
Posted on Thursday Oct 9

Spike in member activity anticipated after Dashboards launch

Most UK pension schemes are anticipating a significant spike in member activity once members have access to the pensions dashboard, according to poll of trustees and pensions managers by WTW. Over a third (38%) of pension schemes are anticipating a 10-30% increase in activity, while a further 38% predict a more substantial increase of 30-50%.
Posted on Wednesday Oct 8

Most GenX and Baby Boomers have no formal retirement plan

Only 6% of Gen X and 7% of working Boomers have a written plan for retirement. 13% of Gen X and 22% of Boomers say they have a plan but not in writing. Vast majority admit to having only a vague or no retirement plan, research from Just Group reveals.
Posted on Wednesday Oct 8

DB pension surpluses continue to stand at record levels

XPS Group estimates UK DB pension schemes maintained a £222bn aggregate surplus against long-term funding targets, up £2bn in September 2025 and £48bn year-on-year. Aggregate scheme assets saw a small rise in September 2025, as matching assets rose in value as bond yields decreased. Growth assets such as global equities also displayed positive performance. Aggregate scheme liabilities also increased, driven by a slight reduction in gilt yields.
Posted on Tuesday Oct 7

Dangers of snap pension decisions from Budget speculation

Less than a quarter (24%) favour a ‘hard stop’ retirement. But the alternative, ‘transitioning’ into retirement, requires confidence in stable pension rules. With 50 days until the Budget, fears of changes to pensions tax breaks are pushing people into snap decisions they may regret
Posted on Tuesday Oct 7

Improving Retirement Outcomes the Drake Commission

The UK Government has ‘revived’ the Pensions Commission, drawing a parallel with the Commission that ran between 2002 and 2006 under the leadership of Lord Adair Turner. The Turner Commission ultimately led to the creation of automatic- enrolment (AE) and the establishment of NEST as the UK’s pension provider of last resort. Both are now viewed as significant advances within the UK pensions system but were highly controversial when proposed.
Posted on Monday Oct 6

Continued funding improvements for DB pension schemes

Fully hedged scheme sees funding position increase by 0.5 percentage points to 71.6% at the end of September. 50% hedged scheme sees slightly larger gain of 0.7 percentage points through the month to 109.7%. After five consecutive months of funding improvements for both schemes, consideration should be given to strategy ahead of November’s UK Budget.
Posted on Monday Oct 6

Record lows for pension redress payments as gilt yields rise

Increases in government bond yields over recent months have significantly reduced expected Defined Benefit (DB) transfer advice redress payments. Redress on a book of DB transfer advice is likely to have fallen to around 2.5% of the total transfer value – half the level of early 2025 – according to the First Actuarial Redress Tracker.
Posted on Friday Oct 3

Pension Professionals overwhelmingly support ESG

As the geopolitical landscape continues to develop and anti-ESG sentiment appears to be on the rise, the Society of Pension Professionals (SPP) held an event to explore the role that pension schemes can play in investing for impact.
Posted on Thursday Oct 2