Pensions - Articles

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Retirement Expectation Gap breaks five year barrier

People still want to retire at 62, but now expect to work until almost 68, pushing the ‘Retirement Expectation Gap’ to a record 5.3 years. Renters face a retirement gap of 6.8 years, more than three times the 2.1 years faced by outright homeowners. Millennials and Gen Z want to retire earliest, at 61 and 60, but face the largest retirement gaps at 6.8 and 5.9 years respectively. 51% fear their retirement finances won’t last, while 48% feel their finances are mainly influenced by factors outside of their control. Those who have done a lot of financial planning have a Retirement Expectation Gap almost five years narrower than those who have done none
Posted on Tuesday Oct 6

One in ten AI pension answers could be potentially harmful

One in ten (11%) answers were potentially harmful: 57 of the 539 answers could lead a saver to lose money or make a mistake they cannot undo. Most were not factually wrong. Instead, they left out important information, used unclear language or missed relevant context
Posted on Tuesday Oct 6

Only one in six expect a hard stop retirement

Only 16% of UK adults expect to stop work completely and enter full retirement. 30% expect to continue working in some capacity during later life. 41% say keeping their brain active is a key reason for continuing to work. 39% are not confident they can live comfortably in later life, rising to 45% among women
Posted on Tuesday Oct 6

Third-party cyber risk tops concerns for DB pension trustees

Seven in ten (70%) DB Pension trustees say third-party or administrator vulnerability is among the biggest cyber risks facing schemes. 60% have board-level reporting and clear responsibilities for cyber incidents. Fewer than half (44%) regularly test their incident response plans
Posted on Monday Oct 5

Lump sums taken early and spent – Budget fears make it worse

76% of people aged 55-64 say they have already taken the lump sum from their pension, according to AJ Bell research. 23% of people who aren’t doing any work in retirement say they were still working when they took the first payment from their pension. Of those who say they have taken a lump sum from a pension, only 30% used the first payment to cover living costs. Meanwhile, 26% paid for home improvements, 21% spent it on a holiday, 19% paid off debt and 16% bought a new car41% of people say they have managed their pension well so far, while 38% of people say they haven’t. Budget speculation around the fate of tax-free cash has led to excess tax-free cash withdrawals which can harm retirement outcomes in the long term.
Posted on Monday Oct 5

DB transfer compensation estimated to drop further for Q4 26

Broadstone finds a reduction to redress levels due to rising bond yields. A gain expected in most cases meaning that no redress is payable as the consumer is judged to be better off as a result of transferring. Cases where transfers occurred sometime ago or which have experienced poor investment returns may mean that redress is payable
Posted on Monday Oct 5

1 in 3 adults don’t think they’re on track for retirement

Nearly one in three (31%) UK adults are not confident they are on track for the retirement lifestyle they want, according to new research from M&G. To help people better understand their approach to retirement saving and take practical action, M&G has launched a new Retirement Readiness Quiz that identifies four distinct pension personalities.
Posted on Friday Oct 2

The vulnerability gap: 34 million face uncertain retirement

The vulnerability gap: 34 million face uncertain retirement
Posted on Thursday Oct 1

A major shift in the UK’s approach to retirement income

Iain McLellan, Director at Isio: “The State Pension triple lock has long been the elephant in the room. While it has played an important role in protecting pensioners’ incomes, most economists and actuaries recognise that maintaining it indefinitely raises difficult questions about affordability and intergenerational fairness.
Posted on Wednesday Sep 30

Triple lock plans put focus on private pensions

Wealth Club, Howden and Standard Life comment as triple lock plans focus on private pensions
Posted on Wednesday Sep 30

Comments on Pension Triple Lock becoming a Double Lock

PensionBee, Aegon and Hymans Robertson comment on Prime Minister Andy Burnham speaking at the Labour Party Conference in Liverpool, confirming the State Pension Triple Lock will end after the current Parliament. From April 2030, the State Pension will rise in line with either prices or 2.5%, with the savings used to help fund a new National Care Service. Burnham also pledged that the State Pension would retain its value relative to earnings over the longer term and that those on the lowest incomes would not be dragged into paying tax as a result.
Posted on Tuesday Sep 29

How life's turning points change pension saving

One in six (16%) people with a private pension who have experienced a major life event increased their pension contributions as a result. Becoming self-employed is the strongest positive trigger, with 18% increasing contributions, followed by having children (11%). However, life moments can also put pension saving under pressure, with 37% reducing, pausing or stopping contributions, rising to 45% following a career break, 33% after becoming self-employed, and 21% after having children. Furthermore, almost one in five (19%) say they only review their pension following a major life event or financial change
Posted on Tuesday Sep 29

What Healey’s Budget could mean for your money

With one month to go until the Budget, Chancellor John Healey is promising a “new confidence in Britain” and a “new age of industrialisation” putting growth at the heart of his economic message. But for households, confidence starts with knowing where they stand. PensionBee research found 57% of savers aren’t confident the government will protect their pension savings in this Budget – underlining the challenge for a Chancellor aiming to get Britain investing and growing.
Posted on Tuesday Sep 29

Gen X raiding pension funds risk unexpected tax hit

Almost half of pension pots accessed for first time in 2025-26 were fully encashedMore than 300,000 people aged 55-64 completely emptied their pension pot70% of those cashing in their full pension pot did so without taking financial advice
Posted on Monday Sep 28

SPP calls for greater clarity on 2028 pension age changes

The Society of Pension Professionals (SPP) is calling on HMRC to provide greater clarity and stronger transitional protections ahead of the increase in the Normal Minimum Pension Age (NMPA) from 55 to 57 in April 2028.
Posted on Monday Sep 28

1 in 4 think their pension will be adequate in retirement

Confidence that pensions will provide enough to live comfortably in retirement remains low, while an increasing number of savers say they do not know whether they are on track, according to Trafalgar House’s 2026 Trust & Confidence Survey.
Posted on Monday Sep 28

£91bn taken from pensions in 2025/26 as annuity sales rise

The FCA’s Retirement Income Market Data published this morning finds that the total value withdrawn from pension pots increased by 22% to £91.2 billion in the year ending 31 March 2026, up from £75.0 billion in the previous year.
Posted on Monday Sep 28

Swapping the office for a trade?

Interest in skilled trades is rising, with research suggesting more than one in five people have considered retraining amid debate about AI and automation. Self-employed pension saving remains a major challenge, with the Pensions Commission saying just 4% of people relying solely on self-employment income save into a pension. Standard Life research found one in three (33%) people reduced, paused or stopped contributions after becoming self-employed, while almost one in five (18%) increased them
Posted on Thursday Sep 24

Pension flexibility poses hidden risk to retirees

Default retirement options in new legislation risk exposing millions of UK pensioners to financial losses, according to a new report by BIT (the Behavioural Insights Team), commissioned by the Institute and Faculty of Actuaries (IFoA).
Posted on Wednesday Sep 23

Are you a pension Winger, Planner, or Late Bloomer?

New Standard Life research reveals Britain’s pension personalities. More than a third (36%) of UK non-retired DC pension savers are pension ‘Wingers’, taking a largely hands-off approach to saving for retirement. Younger savers are most likely to be Wingers, with 45% of 18–34-year-olds falling into the group. Just a quarter (26%) of Wingers feel on track for the retirement they want, compared with two thirds (67%) of ‘Planners’. Standard Life analysis shows increasing employee pension contributions from 5% to 8% could add around £95,000 to an illustrative retirement pot over a working lifetime
Posted on Tuesday Sep 22

Which is Fairer in Divorce - Pension Offsetting or Sharing

Pensions can represent a large part of a couple's wealth, but their value is not directly comparable with cash or property. A pension may not be accessible for years, its benefits may be taxable, and a defined benefit scheme can provide an income that is difficult to express as a simple capital figure.
Posted on Monday Sep 21

TPR report on pension funds and private market investment

The Pensions Regulator (TPR) has published research showing pension schemes want to invest in private market assets, but are facing barriers including capability and knowledge gaps, fees and a lack of suitable investment opportunities.
Posted on Monday Sep 21

Millions to find forgotten pensions as live dashboards near

Millions could soon discover forgotten pension pots as pensions dashboards connection deadline approaches. With just over one month until pension schemes and providers within the legal scope must connect to the Pensions Dashboards Programme ecosystem, PensionBee is urging savers to get organised now rather than wait for dashboards to expose years of forgotten pension savings.
Posted on Monday Sep 21

It’s time for ‘Pensionmaxxing’

First came the ‘proteinmaxxing’ social media trend, helping gym-goers track every nutritious morsel consumed as part of fitness regimes. Then came ‘sleepmaxxing’, with people sharing how-tos on getting the best night’s kip. People spend several hours a week tracking workout macros or perfecting sleep routines but often consign pension admin to the “too hard to handle” box.
Posted on Monday Sep 21

Poor member communications risks major delays to buy-out

Member communications should be treated as a core part of buy-out planning and not simply a ’box-ticking’ activity, warns Hymans Robertson in its paper, ‘Getting member communications right on the journey to buy out’. Its research reveals that for two thirds (67%) of members’ confidence in their pension being paid for life is their top priority and clear communication is key to instilling this confidence.
Posted on Thursday Sep 17