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TPR anti-avoidance action returns millions to pension scheme

Millions of pounds taken from a business that supplied household names will be put into its pension scheme after a court ruling and action by The Pensions Regulator (TPR).
Posted on Thursday Aug 7

Rising inflation could boost the state pension

Inflation forecast to peak at 4% in September, which is the month in which CPI feeds into the state pension triple lock. Fixed mortgage rates may rise a touch from this rate cut. A rate cut was already baked into OBR forecasts, so today’s decision doesn’t help the chancellor fill the hole in the nation’s finances. With only one more interest rate decision before the Budget, Rachel Reeves probably can’t expect a windfall from lower interest rates.
Posted on Thursday Aug 7

LGPS Access and Fairness consultation

The Society of Pension Professionals respond to the government’s LGPS Access & Fairness consultation

Posted on Thursday Aug 7

Going to work for yourself then do not forget your pension

With self-employment on the rise, Standard Life shares important tips to help keep your pension on track if you’re becoming your own boss
Posted on Tuesday Aug 5

Pensioners unaware of State Pension boost by filling NI gaps

National Insurance credits can be claimed for periods of unemployment, sickness or caring responsibilities to fill gaps. People can also pay to backfill National Insurance gaps from the previous six tax years to increase their State Pension income. 4.5 million pensioners receiving the new State Pension but over 2 million people, or 45%, are not receiving the full amount and potentially could have boosted their income
Posted on Tuesday Aug 5

1 in 2 have no clue how their pension is performing

Only 47% of people know how their pension investments are performing. Men are significantly more likely to know than women (36% compared with 58%). 1 in 2 of those aged 18-34, and those over 55 know how their pension is doing. Just 43% of those aged 35-54 understand how their pension investments are faring. For those in the dark, 20% blamed ‘not knowing what to look for’, 18% ‘didn’t know they needed to check’, and 15% ‘didn’t know how to check
Posted on Monday Aug 4

Pensions dashboards holds key to simplifying IHT and probate

As pensions dashboards are developed and Inheritance Tax (IHT) is applied to unused pensions from April 2027, RSM UK says there is an opportunity for government to combine these projects to make probate easier and help grieving families.
Posted on Monday Aug 4

Petition launched for action on pension transfer delays

PensionBee has launched a national petition urging the government to introduce a legally enforceable 10-day pension switch guarantee, as frustration mounts over the glacial pace of pension switches.
Posted on Monday Aug 4

2025 to 2026 PPF levy invoicing on hold

We’re informing our levy payers that we’re putting the 2025/26 PPF levy invoicing on hold and expect to provide a further update this Autumn. The email going out to all levy payers from today, says:
Posted on Friday Aug 1

Auto enrolment nets 800K more savers but challenges remain

89% of eligible employees were participating in a workplace pension in 2024. 21.7 million are saving into a workplace pension - more than double the 10.7 million prior to auto-enrolment. The rise is higher than previous years and attributed to the frozen £10,000 eligibility trigger. Total annual savings reached £149.7 billion in 2024. The number of active savers who stop each quarter has remained stable at under 1%. 8-10% of newly enrolled joiners are actively choosing to opt out in 2024.
Posted on Friday Aug 1

Benefits auto enrolment reform could bring

Jon Greer, Head of Retirement Policy at Quilter: The latest figures from the Department for Work and Pensions reaffirm that auto-enrolment has been a transformative success in increasing pension participation, with 89% of eligible employees now saving into a workplace pension, representing a remarkable 21.7 million people in 2024.
Posted on Thursday Jul 31

Why managing systemic risk is core to trusteeship

In today’s pensions landscape, awareness of and managing systemic risks is not a “nice to have”, it’s a core part of effective trusteeship. Climate change, nature loss, and other systemic risks are not abstract concerns. Where they are financially material, trustees have a duty to understand and manage them as part of their fiduciary responsibilities. Strong investment governance is essential, especially in complex areas such as environmental, social and governance (ESG) and private markets.
Posted on Thursday Jul 31

Comments on new DWP workplace and private pension statistics

Standard Life, PensionBee and Broadstone comment on new DWP ‘Workplace pension participation and savings trends: 2009 to 2024’.

Posted on Thursday Jul 31

Rethinking pension adequacy through a global lens

Festina Finance is urging UK policymakers to rethink what ‘pension adequacy’ really means, and to look to other countries for tried and tested solutions for better retirement outcomes. With the recently revived Pensions Commission to deal with the second phase of the pension review and focus on adequacy, the firm argues it’s time to think bigger and consider deeper structural solutions. Other countries have already shown what’s possible when retirement systems are designed with outcomes in mind.
Posted on Thursday Jul 31

Another £48m repaid as overpaid pension tax saga drags on

Hargreaves Lansdowne and Broadstone comment as between 1 April-30 June HMRC repaid £48.7m in overpaid pension tax. Close to 13,000 refund forms were processed during this time with the average refund around £3,800. People accessing a lump sum from their pension for the first time can be taxed too much. It can be reclaimed but it is admin headache.
Posted on Wednesday Jul 30

Moving jobs just do not leave your pension in the past

Standard Life shares the key pension considerations to bear in mind when leaving a company
Posted on Wednesday Jul 30

Two thirds unaware of State Pension deferral option

Only one in 10 adults aged 66-75 say they delayed receiving the State Pension. Key drivers cited to be the higher income later on, no need to claim the money immediately or still in work
Posted on Wednesday Jul 30

Are you a pension planner or procrastinator

More than two in five Brits (44%) see themselves as pension planners. Men more likely to consider themselves as pension planners (54%) than women (35%). Almost three in ten (29%) aged 45-54 admit to "burying their heads in the sand" when it comes to their pension.
Posted on Tuesday Jul 29

Four in ten people worried about IHT on pensions

40% of people say they are worried about upcoming changes to pensions and inheritance tax. From April 2027, the government intends to make pensions subject to inheritance tax. It’s a worry for 28% of people aged over 55, while almost half (48%) of those aged 18-34 are concerned. Almost 70% of additional rate taxpayers are worried, as are 51% of those paying higher rate tax. Around one-third (34%) of basic rate taxpayers are concerned about the potential changes.
Posted on Monday Jul 28

Pensions Dashboards steps to take the pain out of connection

As schemes across the industry move closer to connection, trustees are increasingly turning their attention to how best to prepare. LCP has published its latest thinking on how best to navigate what can be a complex situation.
Posted on Monday Jul 28

One year state pension delay may cost early 50s workers £16K

Workers aged 51–53 could be the first affected if the state pension age rise to 68 is brought forward by a year, potentially reducing their pension payments by up to £17,774, according to new calculations by Rathbones.
Posted on Monday Jul 28

Less friction better transfers

The UK bulk annuity market continues to go from strength-to-strength, and targeting an insurance transaction remains an attractive option for many.
Posted on Monday Jul 28

Nearly 1 in 2 prioritise guaranteed income from pensions

Data published last week from the Department for Work and Pensions, uncovers that the majority of people approaching or in-retirement have a preference to secure a guaranteed income from their pension.
Posted on Monday Jul 28

Prepare early to avoid delays in moving from buyin to buyout

The earlier that DB pension schemes prepare in advance of buy-in, the more likely they are to avoid costly delays of moving to buy-out, and ensure a high-quality member experience, says Hymans Robertson in its latest paper.
Posted on Friday Jul 25

Pre retirees expect to need over G30K a year in retirement

Those aged 40-75 who are yet to fully retire, on average, expect to need an income of £30,525 a year in retirement. Current full State Pension provides an income of £11,973 a year. Leaves yearly gap of £18,552 to fill with pension or other savings and investments – requiring a pension pot of c.£330,000 to provide this income.
Posted on Friday Jul 25