Pensions - Articles

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No new legislation for pre-1997 pension indexation

The Society of Pension Professionals (SPP) has published a comprehensive paper on the issue of pre-1997 pension scheme indexation. Defined Benefit (DB) pension scheme members who accrued pension benefits before April 1997 do not have a statutory right to inflation-linked increases on that part of their pension. Many scheme rules require such increases to be paid, but a significant minority do not.
Posted on Tuesday Nov 18

Pre-Budget commentary on potential pension tax changes

Commenting on the potential changes to pension tax ahead of the Chancellor’s Budget, Hannah English, Head of DC Corporate Consulting, Hymans Robertson, said: “We’re concerned to see speculation that the Chancellor may remove Salary Sacrifice on National Insurance Contributions over £2,000 in next week’s Budget.
Posted on Tuesday Nov 18

Trustees urged to treat member data as strategic assets

Engagement exercise with hundreds of schemes reveals significant progress on data quality but some trustees place too much reliance on administrators. New guidance also published to help foster new era of robust, consistent data practices.
Posted on Tuesday Nov 18

DB pension surpluses remain at record highs

XPS Group estimates UK DB pension schemes maintained a £240bn aggregate surplus against long-term funding targets, up £4bn in October 2025 and £57bn year-on-year.
Posted on Tuesday Nov 18

7 last minute steps ahead of the Budget

Only 3% of people think they won’t be affected by Budget tax rises - from income tax to council tax, inheritance tax, capital gains tax, stamp duty and VAT. Just 3% of people say they would be happy to pay more tax after the Budget – falling to 2% among women and the squeezed middle (aged 35-54). There’s only nine more days until the Budget, but there’s still time to protect yourself.
Posted on Monday Nov 17

England vs Australia for the – pension – Ashes

The cricket teams of England and Australia resume their near 150-year-long hostilities on Friday [21 November] as another battle for The Ashes commences. Much has been made of the unusually old Australian squad, but while the players are mature by historic standards, they are not yet pensionable.
Posted on Monday Nov 17

PPF consults on 2026 to 2027 PPF levy

PPF proposes a zero PPF levy for conventional schemes. Zero levy dependent on remaining passage of levy measures in Pension Schemes Bill. To align decision making with Bill progress, PPF proposes flexible approach. Consultation sets out changes to ACS levy; invites views on future methodological review.
Posted on Monday Nov 17

Mind the Gap ahead of State Pension Shortfall Day

£1,427 shortfall between the ‘minimum’ of the PLSA’s Retirement Living Standards and the full new State Pension. A pensioner living only on the full new State Pension would exhaust their annual pension income this weekend spending at a daily rate equal to this ‘minimum’ Standard. Retirees must find significantly more annual income to achieve the higher ‘moderate’ or ‘comfortable’ of the PLSA Retirement Living Standards
Posted on Monday Nov 17

Areas of potential identified to build financial resilience

More than 3 million households unable to cover more than a month of lost income – but new Nest Insight trials could unlock multiple, scalable support mechanisms
Posted on Thursday Nov 13

DB Surplus Release: risks, rewards and responsibilities

The Society of Pension Professionals (SPP) has today published a wide-ranging paper on the topical issue of surplus release from DB pension schemes.
Posted on Thursday Nov 13

Changes to salary sacrifice puts retirements at risk

Two in five (38%) Brits will save less into their pension if the salary sacrifice scheme is capped in the Chancellor’s upcoming Budget. The ABI, who conducted the poll with Opinium Research, is warning the government that this would result in millions of employees facing a poorer retirement.
Posted on Thursday Nov 13

Professional Corporate Sole Trustee code updated

The Association of Professional Pension Trustees (APPT) has today issued an updated version of its ‘Code of Practice’ for Professional Corporate Sole Trustees (PCSTs) of pension schemes to be effective from 1 January 2026, to allow time for firms to update their processes and procedures, where required.
Posted on Wednesday Nov 12

34 percent unsure how much to contribute to their pension

34% of people said didn’t know how much they had to contribute to their pensions every year to give themselves a decent income in retirement. 18% of people said they should be saving somewhere between 6-10% of salary per year. A further 17% said between 11-15% per year. Only 14% of higher rate taxpayers said they were unsure, compared to 35% of basic rate taxpayers. However, the latest data from HL’s Savings and Resilience Barometer shows higher earners are at risk of under-saving.
Posted on Tuesday Nov 11

Comments on latest PPF 7800 Index figures for October 2025

Standard Life, Broadstone and Gallagher comment on the Pension Protection Fund’s 7800 Index November update on the latest estimated funding position for all PPF-eligible defined benefit pension schemes. The aggregate surplus of the 4,969 schemes in the PPF 7800 Index increased by £16.2 billion through October 2025, rising to £271.3 billion in surplus. The funding ratio rose by 0.7 percentage points to 129.8% and the number of schemes in surplus rose to 3,844 representing more than three-quarters (77.4%) of all schemes in the universe.

Posted on Tuesday Nov 11

PPF publish latest PPF 7800 Index figures for October 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 Nov 11

Move backed to embed financial literacy into curriculum

Quantum Advisory welcomes the announcement that financial literacy will be taught to all pupils in England.
Posted on Monday Nov 10

Fifth of young people think £100k needed for good retirement

More than one in eight people (13%) believe that they would personally need £100,000+ per year for a good standard of living in retirement. Nearly half (48%) of younger adults expect to still be paying rent or a mortgage in retirement. Over a quarter (26%) report anxiety after checking their pension balance, and 15% feel it’s either too late, or too early to make meaningful changes. More than 1 in 8 people in the UK (13%) believe they would personally need £100,000+ each year for a good standard of living in retirement, according to new research from Royal London.
Posted on Monday Nov 10

Response to new TPR enforcement strategy

The Society of Pension Professionals (SPP) has responded to The Pension Regulator’s current consultation on its enforcement strategy by expressing its support for the broad thrust of the proposed changes.
Posted on Monday Nov 10

Changing the inner workings of salary sacrifice

Mike Ambery, Retirement Savings Director at Standard Life said: “This is being billed as a Budget of tough choices, so it isn’t surprising the government is looking at salary sacrifice arrangements, which are typically offered by larger private sector employers.
Posted on Monday Nov 10

No tax free cash cuts but salary sacrifice change looms

Reports over the weekend suggest that the Chancellor will not make changes to tax-free cash in the Budget. It has also been reported that she is drawing up plans to make changes to use of salary sacrifice for pensions contributions. Options include capping the amount of someone’s salary that can be sacrificed into a pension without incurring National Insurance payments to £2,000 a year. It has also been suggested that employers may see changes to the exemption that means they don’t pay National Insurance on the portion of salary that goes towards employee pensions. This would be a further increase in employer costs which could see them cutting back on future pay increases or opting against boosting pension contributions.
Posted on Monday Nov 10

Stark warning against tinkering with pensions and IHT

Lisa Picardo, Chief Business Officer UK, comments, as the Government’s Autumn Budget looms, on the ramifications of rumoured policy changes and their potential impact on savers.
Posted on Friday Nov 7

Funding holds steady ahead of November Budget

Fully hedged scheme sees funding position increase by 0.9 percentage points to 72.5% at the end of October. 50% hedged scheme sees fall of 0.6 percentage points to 109.1% at the end of October. Benefits of hedging show during October as the fully hedged scheme continues to progress compared to the 50% hedged scheme which falls back in the face of falling gilt yields.
Posted on Friday Nov 7

Do not let Budget fears derail your pension planning

Steven Cameron, Pensions Director at Aegon UK, comments ahead of the Autumn Budget on 26 November urging both individuals and the Chancellor to ‘remember the positives of pensions’.
Posted on Friday Nov 7

Dovish hold from BoE as rates plays second fiddle to Budget

Comments from Rathbones and LCP on Bank of England rate hold ahead of the Budget as tone of commentary provides ‘small boost to equities and gilts’
Posted on Thursday Nov 6

Making CDC work in the UK

The Pensions Policy Institute (PPI), the UK's leading independent authority on pensions and retirement policy, in collaboration with Kings College London (KCL), has published the findings of a research project investigating how Collective Defined Contribution (CDC) schemes can work in the UK, revealing a reimagined CDC scheme design could deliver 75% more in retirement outcomes than a traditional defined contribution (DC) scheme upon retirement.
Posted on Thursday Nov 6