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Further responses to TPRs AFS publication Hymans Robertson, Barnett Waddingham and The Society Pension professionals of comment on The Pension Regulator’s 2025 annual funding statement published today, Posted in: Pensions - Articles Posted on: Tuesday Apr 29

FCA set to launch live AI testing service The FCA is seeking views from firms about how its live AI testing service can help them to deploy safe and responsible AI, which will benefit UK consumers and markets. Posted in: General Insurance Article Posted on: Tuesday Apr 29

Comments on The Pensions Regulators annual funding statement Initial Comments on The Pensions Regulators Annual Funding statement from Standard Life, PMI, ACA, Broadstone and XPS Group Posted in: Pensions - Articles Posted on: Tuesday Apr 29

There is a need to complicate, our puts are short Corporate bond spreads have continued to tighten, leaving substantially less upside in public IG than before. The US market recently hit the lowest it’s been this millennium, and across the board we’re well into the bottom quartiles. This both creates and exacerbates a number of risks, especially tail risks. Tail risks matter, especially to well-funded DB schemes with low-risk strategies. We outline some of the key ones below. Posted in: Articles Posted on: Tuesday Apr 29

TPR publish first AFS under the new DB funding code TPR’s first AFS published under the new DB funding code sets expectations for focus on endgame planning. The Pensions Regulator (TPR) expects most schemes to shift their focus from deficit recovery to endgame planning, with the majority of defined benefit (DB) schemes being in surplus. Open schemes should be planning on securing their future. Posted in: Pensions - Articles Posted on: Tuesday Apr 29

Hurricanes and earthquakes could lead to USD300bn losses Following the long-term annual growth trend of 5–7%, global insured natural catastrophe losses may reach USD 145 billion in 2025, mainly driven by secondary perils like severe thunderstorms, floods and wildfires. Primary perils like hurricanes and earthquakes pose biggest risks, potentially driving insured losses to USD 300 billion or more in a peak year, according to Swiss Re Institute analysis. Reinsurers pivotal for peak years and well capitalised to absorb large shocks with estimated global capital of USD 500 billion. Posted in: General Insurance Article Posted on: Tuesday Apr 29

Top annuity misconceptions dispelled 49% of over 50s recognise that annuities provide income certainty – up from 39% a year ago. Income certainty in retirement remains a key consideration for 98% of people. However, 48% of over 50s still aren’t familiar with lifetime annuities and how they work. Posted in: Investment - Articles Posted on: Tuesday Apr 29

FCA and TPR discuss future of value for money framework A podcast discussing the future development of the joint value for money (VFM) framework has been published today (Monday) by The Pensions Regulator (TPR). Posted in: Pensions - Articles Posted on: Monday Apr 28

Royal London complete buyin with The College of Law Pension The latest transaction is between Royal London and The College of Law Pension and Assurance Scheme. Hymans Robertson and Linklaters advised the Trustees on the £85m buy-in. It is the ninth buy-in secured by Royal London’s BPA business to date with three further pension schemes in exclusive contract negotiations Posted in: Investment - Articles Posted on: Monday Apr 28

New record low for transfer values XPS Group’s Transfer Value Index has experienced a further decline over the course of March 2025, concluding the month at a new record low of £142,000. Posted in: Pensions - Articles Posted on: Monday Apr 28

New data exposes scale of pension switching crisis New research from PensionBee reveals a stark picture of a system buckling under outdated processes, inconsistent standards, exploitation and lack of regulatory enforcement – with one case of a saver waiting more than 1,000 days to switch their pensions. Posted in: Pensions - Articles Posted on: Monday Apr 28

Savings rates set to fall with quarter of savers in the dark The Bank of England is expected to cut rates next week, and the market is pricing in around three more cuts in 2025. In the past 18 months, savings rates have already fallen. The average easy access rate fell from 3.18% to 2.77% and the average 1 year rate from 5.36% to 4.12%. 28% of people have no idea what interest they’re making on any of their savings. That rises to 34% among women and 31% of the squeezed middle (aged 35-54). 23% of people have never switched their savings for a better rate. Posted in: Investment - Articles Posted on: Monday Apr 28

Targeted pensions support takes shape in FCAs plans As the Financial Conduct Authority (FCA) sets out its strategic priorities for 2025/26 – and confirms Nikhil Rathi’s reappointment as Chief Executive Officer – advisers may want to pay close attention. While headlines might focus on regulatory oversight and leadership continuity, beneath the surface lies a major initiative with far-reaching implications for pension engagement and financial guidance. The regulator has earmarked significant funding to explore a long-standing challenge: how to offer more personalised pensions support to consumers who aren’t receiving full financial advice. Posted in: Articles Posted on: Monday Apr 28

Pensions over taxation bill continues to climb Brits reclaimed £44 million in overtaxation on pension withdrawals in January, February and March 2025, the latest HMRC figures reveal. Over 15,000 reclaim forms were processed during the quarter, with an average reclaim of £2,881. Over £1.4 billion has now been reclaimed by people overtaxed on pension withdrawals since 2015. How taking a small withdrawal at the start of the tax year could ease overtaxation pain. Alternatively, savers can fill out one of three HMRC forms and get their money back within 30 days Posted in: Pensions - Articles Posted on: Friday Apr 25

PIMFA Women's Symposium tackles pivotal issues Focusing on inclusion and the future of the industry, 500+ delegates heard from 80 expert speakers, including the Economic Secretary to the Treasury & City Minister, on an array of topics, including the role of culture, open conversations around life events, and AI in driving progress Posted in: Investment - Articles Posted on: Friday Apr 25

Over one third of London market firms now actively using AI The Lloyd’s Market Association (LMA) has hosted a seminar on the use of AI within the London specialty market. The seminar referenced results from a recent survey completed by 81 firms in the London market, including 45 Lloyd’s managing agents. Posted in: General Insurance Article Posted on: Friday Apr 25

Further comments on DWP Small Pots Consolidation report Broadstone, Hymans Robertson, Scottish Widows and Now Pensions comment on the DWP announcement on consolidating small pension pots Posted in: Pensions - Articles Posted on: Friday Apr 25

Five key questions the Insurance C-Suite must answer now The insurance industry continues to evolve. 2025 has and – will continue to – bring with it an array of challenges and opportunities that demand strategic foresight from insurers. From a shifting UK regulatory landscape to technological advancements, economic volatility, macro uncertainty, and ESG imperatives, the decisions made by insurance executives today will define their success in the future. Our sector’s ability to navigate these dynamics – while also driving innovation and operational efficiency - is more critical than ever. Posted in: Articles Posted on: Friday Apr 25

Pension industry on sustainability for bulk annuity process Last year Accounting for Sustainability (A4S), The Church of England Pensions Board and Railpen brought together pension schemes, insurers, pension advisers and the regulatory community to produce a Sustainability Principles Charter for the bulk annuity process. Posted in: Pensions - Articles Posted on: Thursday Apr 24

Insurance Development Forum Publishes 2024 in Review The Insurance Development Forum (IDF) today announces the publication of its 2024 Annual Review, which is now Available to download Posted in: General Insurance Article Posted on: Thursday Apr 24

UK general insurance industry to hit USD149 billion by 2029 The UK general insurance industry is projected to grow at a compound annual growth rate (CAGR) of 5.0% from GBP92.9 billion ($119.7 billion) in 2025 to GBP113.0 billion ($149.2 billion) in 2029, in terms of direct written premiums (DWP), according to GlobalData. Posted in: General Insurance Article Posted on: Thursday Apr 24

Rates set for May cut and more pruning later Rates are widely expected to be cut in May. The markets are also pricing in around three more cuts for the rest of 2025. What it would mean for savings, annuities and mortgages. Posted in: Investment - Articles Posted on: Thursday Apr 24

What could the LGPS triennial valuation mean for employers As at 31 March 2025, the Local Government Pension Scheme (LGPS) is undergoing its latest triennial funding valuation. The LGPS, a defined benefit pension scheme, is one of the largest pension schemes in the UK with over 6 million members, 18,000 participating employers and four actuarial firms appointed to carry out valuations across over 80 different funds. Posted in: Pensions - Articles Posted on: Thursday Apr 24

70 percent cut in capital rules red tape The Financial Conduct Authority (FCA) is proposing streamlining the rules on the types of funds investment firms must hold to absorb losses and maintain financial resilience during periods of stress. Posted in: Investment - Articles Posted on: Thursday Apr 24

Responses to DWPs Small Pots Delivery Group report Standard Life, LCP and Aegon comment on the DWPs Small Pots Delivery Group report with proposed legislative programme outlined in meaning that pots won’t be consolidated until 2030 at the earliest. The report also gives further detail around how this would work in a universe of multiple default consolidators, including confirmation that authorisation to act as a consolidator will be built out from the existing Master Trust authorisation framework. Consolidators will need to be financially secure providers offering good VFM to savers and also offer a Sharia compliant fund. Posted in: Pensions - Articles Posted on: Thursday Apr 24

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