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100,000 more pensions cashed in full each year since 2018

Over 100,000 more pensions are being cashed in full today than they were seven years ago when records began, according to new analysis by TPT Retirement Solutions. Data published annually by the Financial Conduct Authority (FCA) shows that since the tax year 2018-19, the number of people cashing their pensions in full each year has increased by 29% – or by 105,038.
Posted on Friday May 15

Markets in downbeat mood as China summit sparks more worry

FTSE 100 looks set to end the week on the back foot, falling in early trade. China-US summit switches focus to Taiwan, with concerns about fresh geopolitical fractures. Brent crude futures have risen, trading above $107 a barrel as hopes for a catalyst to end the conflict fizzle out. UK borrowing costs rise again with another twist in the fight for No.10 as Burnham barrels in. Pound slips, increasing expectations of further takeover deals in the UK. Private market opportunities look more attractive as more firms look set to be snapped up by bigger fish.
Posted on Friday May 15

DB and hybrid schemes must get value data dashboard ready

The Pensions Regulator (TPR) has launched a regulatory initiative targeting defined benefit (DB) and hybrid pension schemes to assess how they are preparing their data ahead of connecting to dashboards, to ensure their members get accurate, up to date information.
Posted on Thursday May 14

What next for the £14bn Pension Protection Fund reserves

The Society of Pension Professionals (SPP) has published a new paper, “From Lifeboat to Legacy: What Next for the £14bn PPF Reserves?” calling for full and transparent government engagement with stakeholders, including pension scheme members, employers, trustees and advisers on the future role of the Pension Protection Fund (PPF).
Posted on Thursday May 14

HMRC reveals more on new rules for IHT on pensions

One of the most controversial pension tax changes in recent years has moved a step closer, with HMRC publishing a technical note this week on how pensions will fall within inheritance tax rules from April 2027.
Posted on Thursday May 14

Millions face pension access cliff edge ahead of age 57 rule

Millions of pension savers born between 6 April 1971 and 5 April 1973 could face an unexpected two year wait to access their pension savings unless they act before 6 April 2028, according to PensionBee.
Posted on Wednesday May 13

Royal London 2nd BPA transaction for Leeds Building Society

This buy-in marks Royal London’s second BPA transaction with the pension scheme of a fellow mutual and the first with a building society. Royal London has insured the benefits of over 22,000 pension scheme members across 26 buy-in transactions to date
Posted on Wednesday May 13

Pension scheme funding recovers in April but stays volatille

Broadstone publishes its Sirius Index April update which discloses improvements in funding for both modelled schemes. The ‘growth focused’ scheme funding more than recovered March losses, improving from 89.0% at the end of March to 91.7% at the end of April. The ‘matching focused’ scheme funding did not improve as much, but managed to reverse most of March’s losses by improving from 88.6% at the end of March to 89.7% at the end of April
Posted on Wednesday May 13

Comments on latest PPF7800 Index update for April 2026

Broadstone and Gallagher comment as the aggregate surplus of the 4,838 schemes in the PPF 7800 Index reduced by £5.3 billion through April 2026, dropping back to £258.5 billion in surplus. It nonetheless remains significantly higher (+£53.3 billion) than a year ago when the aggregate funding position was £205.2 billion in surplus. The funding ratio saw a slight reduction of 0.2 percentage points to 131.2% and the number of schemes in surplus reduced by 25 to 3,790, falling to 78.3% of all schemes in the universe.
Posted on Tuesday May 12

FCA fines and bans Frank Breuer for serious misconduct

The Financial Conduct Authority (FCA) has banned Frank Breuer from working in UK financial services and fined him £755,000 for repeatedly acting without integrity and putting customers at risk for personal financial gain.
Posted on Tuesday May 12

PPF publish latest PPF7800 Index figures for April 2026

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 May 12

Pension Schemes Act to accelerate AI led transformation

AI expected to play a growing role in enabling delivery of the Pension Schemes Act reforms, as providers face large-scale data, consolidation and reporting requirements. Delivering the package of reforms across both the defined contribution (DC) and defined benefit (DB) markets will accelerate the role of artificial intelligence (AI) and enhanced technology systems, according to Lumera.
Posted on Tuesday May 12

Only 19% of DC members know their retirement income

19% of UK DC pension members understand their potential retirement income. 21% understand what contribution level is needed to support their desired retirement lifestyle. Only a third or fewer members have accessed online educational information on key pension topics, including how their pension is invested and options available at retirement. 66% have never consolidated their DC pots and 55% have never increased contributions. 68% contribute 5% or less to their pension each month. 59% say they could afford to increase monthly pension contributions
Posted on Monday May 11

Small steps on pension contributions makes a huge difference

Someone aged 22 earning £26,000 pa could have a pension pot worth £235,000 at 68 if they contributed AE minimums during their working life. Taking small steps to contribute above and beyond AE minimums can boost this even further. Increasing your contribution to 6% with your employer sticking at 3% could see you with a pension of £265,000. Hiking your contribution to 8% would see your pot grow to around £324,000. If your employer matched your 6% with 6% of their own, then that final pension could total £353,000. All calculations made on HL’s pension calculator. Based on investment returns of 5% pa after fees.
Posted on Monday May 11

TPR consults on new Corporate Strategy

The Pensions Regulator has launched a consultation today on its refreshed five-year Corporate Strategy setting out the regulator’s vision that people should have a sustainable income in retirement, supported by a pensions system that provides security and value for all.
Posted on Monday May 11

Pensions industry must move faster on responsible use of AI

Trafalgar House is urging schemes and trustees to act more decisively on artificial intelligence as workloads increase and experienced administrators continue to leave the industry. The call comes as the firm shares the findings of an internal pilot which assessed whether AI could support the technical interpretation of scheme rules and the development of benefit and calculation specifications.
Posted on Monday May 11

Property could play a role in supporting retirement income

Against a backdrop of 15 million people not saving enough for their retirement and the government establishing a Pensions Commission to consider the issue, the Society of Pension Professionals (SPP) have held the second in a series of events on pensions adequacy.
Posted on Friday May 8

The Rule of 300 for retirement income

Standard Life’s analysis shows how £300 of pension savings is required to generate £1 of guaranteed monthly income. The ‘Rule of 300’ illustrates how everyday monthly costs translate directly into the pension savings needed to guarantee them via an inflation-linked annuity
Posted on Thursday May 7

Professional trustees role as governance reshape DB pensions

Largest 10 professional trustee firms now oversee around 45% of UK DB pension schemes, up from 31% in 2020. Firms expected to manage around two-thirds (c.66%) of DB schemes within five years. Over £1tn in assets now overseen across 2,400+ schemes. 174 new appointments, broadly offset by schemes reaching endgame and some mandates moving between providers. Average revenue growth of 12% in 2025, driven by increased governance and project workloads. Sole trusteeship now accounts for over 50% of appointments, projected to reach ~65% in five years
Posted on Thursday May 7

1 in 4 couples don't know about their pension in a divorce

Over a quarter (27%) of married people or those in civil partnerships who have a private pension don’t know what would happen to their pension if they divorced, rising to 30% among women. Almost three quarters (73%) of couples have never discussed how their private pensions would be treated if they separated. One in five (19%) divorced people regret how pensions were handled, with women (28%) three times more likely than men (9%) to feel this way
Posted on Wednesday May 6

Industry comments on TPRs Annual Funding Statement for 2026

The ACA, Hymans Robertson and SPP comment on the 2026 Annual Funding Statement issued by The Pensions Regulator
Posted on Wednesday May 6

TPR publishes its latest Annual Funding Statement

The Pensions Regulator (TPR) has published its latest Annual Funding Statement (AFS), setting out expectations for trustees and sponsoring employers of occupational defined benefit (DB) pension schemes. With most DB schemes now in surplus, TPR expects trustees in this tranche to be shifting their focus from deficit recovery to long-term endgame planning.
Posted on Wednesday May 6

Practical steps to support younger workers pension saving

Three quarters (74%) of employers worry employees will not save enough for retirement as living costs squeeze disposable income. A similar proportion say they are worried about younger workers (77%) and low earners (77%). More than four in five SME decision-makers (82%) say they feel a responsibility for employees’ financial wellbeing. Nearly half (45%) want better communication and education about pensions to improve engagement
Posted on Friday May 1

The year of the DC Default

All DC default pension providers delivered positive returns in 2025, supported by strong performance across all major asset classes. 71% of providers outperformed Howden’s passive portfolio test – up from 19% in 2024 in the growth phase, and 29% ‘at retirement’. Performance outstripped inflation, cash, and annuity measures. Despite the noise, private markets allocations remain limited in existing strategies - but many are already targeting allocations well above the policymakers’ ambitions
Posted on Thursday Apr 30

Two thirds use salary sacrifice but most unaware of 2029 cap

Nearly two-thirds of UK workers (62%) are using salary sacrificeA similar number (63%) are unaware it will be capped from 2029Nearly one in ten (9%) still don’t know what it is
Posted on Thursday Apr 30