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Bulk annuity pricing for pensions at best level for 2 years

Aon has said that the UK defined benefit pension scheme bulk annuity market is seeing the best pricing for over two years.
Posted on Monday Jun 30

Alarms flashing red for pension savers

New analysis finds urgent need for improvements in contribution levels, investment performance, fee awareness and saving timelines. Long-term retirement security at risk for many as understanding and knowledge remains low
Posted on Friday Jun 27

Transfer Value Index hits third consecutive record low

XPS Group’s Transfer Value Index fell to a new month-end low in May 2025, the third consecutive monthly record. The Index fell to £137,000 during the month, matching the mid-month low seen in April 2025. This decline reflects small increases in gilt yields across the month, whilst future inflation expectations have remained stable.
Posted on Wednesday Jun 25

HMRC policy change broadens VAT recovery for DB pensions

HMRC has introduced a more generous VAT policy that will allow some businesses to recover more VAT from defined benefit (DB) pension schemes they support. However, with complex rules and documentation requirements, Richard Holm, tax partner at RSM UK, examines the new policy in more detail, and the potential tax implications for employers and trustees.
Posted on Wednesday Jun 25

Gen Z urged to stick with pension saving

Starting pension contributions aged 22 could mean £40,000 more in retirement than starting aged 27. Those who wait even longer, starting at 32, could have £74,000 less in retirement. Standard Life highlights the benefits of earlier investment in your pension, offering tips to maximise retirement savings.
Posted on Tuesday Jun 24

Rising costs of TPS and STPS burdening independent schools

Over 400 independent schools have left the Teacher’s Pension Scheme (TPS) since 20191. TPS cost increases make it less financially viable. Independent schools are balancing redundancy and pay against TPS. Alternative pension provisions for teachers must be made carefully.
Posted on Thursday Jun 19

Retirement checklist planning for the future in later life

Fidelity’s analysis of the latest PLSA Retirement Living Standards reveals what it really takes to retire comfortably in 2025. Research shows a growing focus on retirement savings, particularly among over-55s and mid-life workers looking to retire early or reduce hours. Fidelity International highlights how savers can stay on track financially as they move closer to retirement
Posted on Wednesday Jun 18

Index shows gender differences in pension trust and outlook

Trafalgar House has unveiled new findings from their fifth Trust & Confidence Index of the pensions industry, revealing a significant gender divide in how people perceive the pensions industry.
Posted on Wednesday Jun 18

Government and Regulator give schemes impetus on endgame

Building on LCP’s new Accounting for Pensions 2025 report that was released last month, the latest results by LCP’s Pensions Explorer at 31 May 2025 show that the combined IAS19 funding level for the UK pension schemes of FTSE100 companies remains strong at over £50bn (118% funding level).
Posted on Wednesday Jun 18

First operational DB superfund transaction announced

Barnett Waddingham (BW) has led the advice for a landmark pension transaction that sees Church Mission Society (CMS) and the trustee of the CMS Pension Scheme agree to transfer members to Clara-Pensions – the UK’s first and only operational defined benefit superfund.
Posted on Tuesday Jun 17

Average pension transfer takes 11 days in busy tax year end

Simpler pension transfers took an average of just 11 days to complete in the lead up to one of the busiest times for the industry as the 2024/25 tax year end approached, the latest Origo data reveals – with half of all transfers also completed in seven working days or less.
Posted on Tuesday Jun 17

Customer experience must improve for civil service pension

Cabinet Office has been unable to hold the current pension scheme administrator, MyCSP, accountable for when performance has fallen below agreed service levels or incentivise improvements through its contract. Alongside a rise in complaints, over the last two years MyCSP failed to answer calls within expected timeframes, answering at best 43% of calls within the target of 30 seconds. Capita is set to take over the administration of the scheme in December 2025, with the agreed total contract price representing savings of £83 million – but Capita has so far missed three key milestones, leading to Cabinet Office withholding £9.6m in transition payments.
Posted on Monday Jun 16

Pensions has come to TikTok

Last month, Ofcom reported that TikTok was the most popular main app for those aged 16-24, and the most popular social media app for adults in 2024.
Posted on Monday Jun 16

Underpins and better of tests found to be most complex

Industry polling by the Society of Pension Professionals (SPP) has found that 75% of pension professionals who attended a recent event on risk transfer, identified underpins and “better of” tests as the most challenging or complex benefit to simplify.

Posted on Friday Jun 13

Are small pots a future route to greater DC consolidation

Automatic enrolment and frequent job switching have led to a surge in small, dormant pension pots, now a growing challenge for Government. In response, ministers have confirmed plans to move ahead with reforms aimed at consolidating the DC pensions market, with a clear ambition to create: “fewer, larger, better well-run schemes
Posted on Thursday Jun 12

Workers in the dark on their pension savings

Two in five (43%) UK workers don’t know how much they are contributing to their workplace pension, new insight from Scottish Widows’ Retirement Report reveals.
Posted on Thursday Jun 12

Who is caring for carers pensions

now:pensions highlights the growing pensions gap for careers during National Carers Week. The report reveals carers are retiring with significantly less private pension income than the national average.
Posted on Thursday Jun 12

Pension funds urged to review their FMs performance

Barnett Waddingham’s Fiduciary Management (FM) Investment Performance Review has revealed that while most fiduciary managers achieved their investment objectives in 2024, longer-term performance was more muted, particularly for those targeting higher returns.
Posted on Thursday Jun 12

Trustees should use their voice to challenge member outcomes

ZEDRA has called on UK pension scheme trustees to take a more active role in holding insurers accountable for member outcomes and sustainability approaches when considering buy-out transactions.
Posted on Wednesday Jun 11

Retirement poverty postcode lottery

Just 55% of Londoners over 50 own their own homes – the lowest level in the country. Almost half of over 50s are in debt, rising to 51% in London. 30% of over 50s in the North West have no private pension savings – the highest in the UK. 1 in 7 over 50s still have a mortgage, rising to 1 in 5 in Northern Ireland
Posted on Wednesday Jun 11

Industry comments on latest PPF7800 Index figures

Standard Life, comments on the Pension Protection Fund’s 7800 Index June update on the latest estimated funding position for all PPF-eligible defined benefit pension schemes:
Posted on Tuesday Jun 10

PPF publish latest PPF7800 Index figures for May 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 Jun 10

Average FTSE350 DB pensions buyout time falls below 4 years

The latest data from Barnett Waddingham’s DB End Gauge Index shows that the average time to buyout has fallen below 4 years to buyout.
Average time to buyout for FTSE350 DB pension schemes has fallen below 4 years
Posted on Tuesday Jun 10

76% of trustees to adopt statutory override for DB surplus

At an XPS Group webinar on 9 June 2025, attended by 300 trustees, employers and pension managers, 76% of trustees said they were minded to adopt the new statutory override to give themselves the power to distribute surplus.
Posted on Tuesday Jun 10

Salary exchange delivers win win to workers

Salary exchange could boost an average worker’s pension pot by over £40k. Only 35% of UK workers are enrolled in their company’s salary exchange scheme. And yet, three-quarters (74%) of those enrolled said being more financially secure boosted their productivity.
Posted on Tuesday Jun 10