Investment Grade (IG) Credit is a major asset, for UK Defined Benefit (DB) schemes in particular, and it’s easy to see why. It’s simple, mean-reverting and therefore relatively robust, mostly liquid, contractual, and encouraged by The Pensions Regulator) TPR. What more could you want? Well, a better price. There is nothing wrong with credit per se, but like everything in finance, there’s a price at which it makes sense and a price at which it doesn’t.
The latest HMRC update on Capital Gains Tax (CGT) shows that receipts in January 2026 (which account for the vast majority of the year’s collections due to reporting and assessment deadlines) totalled £17.0 billion, an increase of £7.0 billion compared to the £10.0 billion recorded in January 2025.
New HMRC figures released today show that Insurance Premium Tax (IPT) has generated £7.70 billion in the first ten months of the 2025/26 financial year (April–January), with £872 million collected in January alone – a record for this month.
This morning’s HMRC update shows that Inheritance Tax (IHT) receipts totalled £7.1 billion through the first ten months of the 2025/26 financial year (April 2025 to January 2026), an increase of £130 million compared to the same period in 2024/25 (£7.0 billion). With only two months of tax receipts yet to be collected in the current financial year, IHT remains on track to surpass last year’s record haul. Looking further ahead, IHT receipts are expected to continue to rise.
In 2022-24, men in the UK can expect to spend 60.7 years in "good" general health. This compares to 60.9 years for women. These are decreases of 1.8 and 2.5 years, respectively, compared with the last non-overlapping period 2019 to 2021. England continues to have the highest healthy life expectancy at birth for both men (60.9 years) and women (61.3 years). Scotland has the lowest for men (59.1 years) and Wales had the lowest for women (58.5 years).
New data out today from the Office for National Statistics (ONS) shows that despite modest increase in overall life expectancy, the number of years which can be expected to be spent in good health has fallen to its lowest level since the ONS began collecting healthy life expectancy (HLE) data.
Upcoming changes bringing pensions into scope of inheritance tax from April 2027 are influencing plans, with nearly a third of UK parents (29%) reconsidering how they will use their pension. A different kind of SKI: One in seven (15%) parents plan to prioritise enjoying their money now over leaving an inheritance. Almost two-fifths of UK adults (37%) expect to receive an inheritance, with 9% relying on it as part of their financial plan
Applying patches and security updates quickly is critical, as attackers now move from break-in to damage in about a day. A significant number of vulnerabilities exploited in Q4 were 0day vulnerabilities, meaning organizations didn’t have time to patch prior to threat actors abusing the vulnerabilities. Email scams caused over a third of reported cyber incidents in Q4.AI is beginning to change cyber threats, but not in the ways most people expected.
FTSE 100 hits new highs as inflation cools. Nestlé with a much-needed pick-me-up. Rio Tinto puts copper centre stage. Wall Street edges higher despite rate jitters. Fed minutes reveal a house divided. Oil extends gains as US-Iran tensions rise
Experienced pensions expert Ben Gunnee is joining TPR’s top team as Interim Executive Director, Market Oversight. Recruitment of permanent Executive Director launched alongside interim appointment.
Aon has said that polling from its 2025 Cyber Webinar, revealed that EMEA businesses believe they are unprepared for artificial intelligence (AI)-powered cyber threats.
After a year of record shopping and switching activity in 2024[i], the number of U.K. consumers searching for a better deal or switching motor insurance provider declined during the first half of 2025. At the same time, smaller insurance providers gained some ground from the Top 10. The report, which tracks billions of motor insurance shopping transactions across the U.K., offers a detailed snapshot of how consumers, insurance providers, and market forces evolved during the first half of 2025 — and what might lie ahead for 2026.
Standard Life has concluded a £700 million Bulk Purchase Annuity (BPA) transaction with the Trustee of the IBM I.T. Solutions Pension Scheme (the “I Plan”). The buy-in, covering both pensioners and deferred members, secures the benefits of over 3,600 members, while removing funding and investment risk for the I Plan. These members will continue to receive or be entitled to their benefits from the I Plan, just as they were before the transaction.
Insurers paid out £6.1 billion in property claims in 2025, according to the ABI’s latest data - the highest annual total on record. In the final quarter alone, payouts reached £1.5 billion, as adverse weather events continued to drive up claims costs.
Pension Insurance Corporation plc (‘PIC’), a specialist insurer of defined benefit pension schemes, has concluded a £113 million full buy-in with the Steria Management Plan Section (the ‘Section’) of the Sopra Steria Retirement Benefits Scheme (the ‘Scheme’). The buy-in secures the benefits of all 355 Section members within the Scheme.
Standard Life, XPS comment as CPI falls to 3% in January, its lowest level since March 2025, following Christmas inflation bump. Softer price pressures strengthen the case for a potential March interest rate cut
Data shows a 1.9% rise in people claiming the State Pension in the 12 months to August 2025, bringing the total to 13.2 million. 5 million are now receiving the New State Pension, up 740,000 year-on-year. Average weekly State Pension payments hit £210.73, an increase of £8.78 since August 2024.66% of Pension Credit recipients are women as of August 2025.
‘For many savers, it’s a case of “grab tax relief while you can”’ 5 April deadline to use up some annual allowance. No guarantee higher and additional rate pension tax relief will be around forever. 2029 salary sacrifice cap forms incentive to ‘grab it while you can. ’Bonus sacrifice or lump sum contribution could turbo-charge retirement pot. Tapered annual allowance and ‘carry forward’ explained
China will aim to operate a ‘moderately loose’ monetary policy in 2026, as part of continued attempts to raise domestic demand. Many Chinese companies are opening themselves to foreign investors in a bid to fund further research and development fund ideas to gain exposure to growth and add diversity to portfolios
As nat cat protection gaps widen and climate events increase, you’ll need to grow your risk management toolkit and collaborate. How can you shape both the insurance of tomorrow and your role in it? The growth in uninsured losses suggests traditional ways of doing insurance are at risk of lagging behind the threats to long-term resilience. These threats are arising from climate risks, as well as supply chain, geopolitical and cyber exposures.
Van Lanschot Kempen Investment Management (UK) Ltd (“Van Lanschot Kempen”) today announces the appointment of Michelle Darracott as its new Chief Executive Officer, effective April 1, 2026.
Pension Insurance Corporation plc has concluded a £155 million buy-in with the Trustee of Vistry’s Final Salary Pension Schemes, covering the pensions of 1,671 members. The transaction covers the Bovis Homes Pension Scheme, Galliford Try Final Salary Pension Scheme, and Kendall Cross Holdings Limited Pension and Assurance Scheme (together “the Schemes”), all sponsored by Vistry.
For many pension scheme trustees, selecting a bulk annuity insurer to secure members’ benefits is the most important decision they will make over the coming years. Financial security is obviously key to this decision, but with stronger funding positions, trustees are increasingly considering and prioritising other factors including how well members will be looked after by the insurer once the scheme has wound up.
ZEDRA have welcomed The Pensions Regulator’s new Consolidated Code of Practice for Collective Defined Contribution (CDC) schemes, describing the introduction of a clearer and more structured authorisation journey, particularly for multi-employer CDC arrangements, as a positive and necessary step forward.