Hymans Robertson, Barnett Waddingham and The Society Pension professionals of comment on The Pension Regulator’s 2025 annual funding statement published today, Posted on Tuesday Apr 29
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 on Tuesday Apr 29
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 on Monday Apr 28
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 on Monday Apr 28
New research from PensionBee reveals a stark picture of a system buckling under outdated processes, inconsistent standards, exploitation and lack of regulatory enforcement – with one case of a saver waiting more than 1,000 days to switch their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 on Monday Apr 28
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 on Friday Apr 25
Broadstone, Hymans Robertson, Scottish Widows and Now Pensions comment on the DWP announcement on consolidating small pension pots Posted on Friday Apr 25
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 on Thursday Apr 24
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 on Thursday Apr 24
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 on Thursday Apr 24
A recent expansion of the Childcare Act could increase the retirement savings of parents by £1.2 billion according to new analysis from The People’s Pension Posted on Wednesday Apr 23
An expression of wish (EOW) enables you to instruct who you would like to receive your pension when you die. Just 1 in 10 people have completed an EOW under 30. On average men (40%) are slightly more likely than women (34%) to have placed an instruction. 40% over age 60 have not laid out their intentions. HL saw a 26% increase in the number of people updating their instruction between the years 2022 and 2024. IHT changes in 2027 increases the importance of electing and reviewing beneficiary nominations. Posted on Tuesday Apr 22
Deficit reduction contributions drop to £932 million in Q3 2024 as improvements in scheme funding decrease financial pressure on sponsoring employers. DB pension schemes no longer such a ‘drain’ on employers which could support greater business investment and more secure pensions Posted on Tuesday Apr 22
#Corporatelife emerges as latest Gen Z-led social media trend – what it could mean for long-term saving. Embracing a “locked in” career approach could significantly boost retirement savings over time. Standard Life analysis highlights how salary growth rates can affect pension outcomes, with differences of up to £80,000 (38%) between career strategies Posted on Tuesday Apr 22
New analysis conducted by Gambling Research Glasgow at the University of Glasgow, on behalf of PensionBee, reveals that almost one in three adults over the age of 65 gamble beyond the lottery. Posted on Tuesday Apr 22
ONS data finds that fears around the cost-of-living and the economy are once more ‘rearing their ugly heads’ for UK households. Posted on Thursday Apr 17
Half of adults (50%) don’t know how much they’ll receive in their state pension, with almost a third (32%) unaware of the age they’ll receive it. With the state pension rising to £11,973 per year this month, Standard Life answers important questions around how it works Posted on Thursday Apr 17
New research from PensionBee reveals that UK savers are highly cautious when it comes to their retirement savings, with just 8% willing to invest in high-risk assets. Posted on Wednesday Apr 16
National Living Wage increased this month from £11.44 to £12.21 per hour. Employer National Insurance (NI) has also risen and the threshold at which employers begin paying NI for employees dropped from £9,100 to £5,000. For a business employing someone on average UK earnings of £37,430, the NI changes mean they will pay an extra £955 in NI each year. Switching to salary sacrifice for pension contributions can help businesses keep NI costs down. Posted on Tuesday Apr 15
Aon has said that 2025 is a key year for UK pension schemes and has formed the UK Endgame Strategy team to help schemes with the decision-making process as they review their endgames. Posted on Tuesday Apr 15
Sole trustees have embraced the General Code and are using it as an opportunity to innovate their in-house governance approaches and ensure they can be held to the highest account for governance, according to a survey by Hymans Robertson. Posted on Monday Apr 14
A series of short films highlighting the difference pensions dashboards will make to savers has been issued by The Pensions Regulator (TPR). Posted on Monday Apr 14
New analysis from PensionBee highlights a sharp increase in pension contributions in 2024, despite ongoing pressures on household budgets. Posted on Monday Apr 14
PwC’s Buyout Index continued to record a surplus position, slightly increasing to £95bn in March 2025, demonstrating that the UK’s 5,000 corporate defined benefit (DB) pensions schemes continue to have, on average, sufficient assets to ‘buyout’ their pension promises. Posted on Friday Apr 11
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