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Chancellors focus on guided retirement for pensions savers

Ahead of the Mansion House speech to be delivered by UK Chancellor Rachel Reeves on the evening of 15 July, Glyn Bradley, Chair of Pensions Board at the Institute and Faculty of Actuaries (IFoA), said:
Posted on Friday Jul 11

DC pensions continue to back Net Zero despite ESG backlash

Barnett Waddingham’s latest DC Sustainability Report finds a 34% increase in allocations to funds with a climate target in the growth stage since original 2021 report. Despite this, providers have on average 35% of growth assets exposed to investment managers who have stepped away from climate collaboration initiatives. Misalignment between UK DC schemes and global asset managers on sustainability requires a strategic shift to ensure ESG ambitions are fulfilled.
Posted on Friday Jul 11

PPF marks 20 years of protection in its Annual Report

The Pension Protection Fund (PPF) has published its 2024/25 Annual Report and Accounts, marking its 20th anniversary with a year of strong financial performance, continued customer service excellence, and enduring commitment to serving its members, levy payers, and the wider pensions industry.
Posted on Friday Jul 11

Pensions overhaul may unlock 25 percent of DB scheme value

The UK’s 5,000 corporate defined benefit (DB) pension schemes continued to record a significant surplus of £175bn in June 2025, according to PwC’s Low Resilience Index. This tracks schemes based on a low-risk income-generating investment strategy, which should mean the pension scheme is unlikely to call on the sponsor for further funding.
Posted on Thursday Jul 10

Pensions industry and regulator join forces on net zero risk

The Pensions Regulator (TPR) will work with industry stakeholders, advisers and professional bodies to develop and test a voluntary net zero transition plan template fit for occupational pension schemes, drawing on the work of the UK Transition Plan Taskforce (TPT).
Posted on Thursday Jul 10

Pension master trust ascendancy continues

40% of large pension schemes over £1bn are now in master trusts – matching own-trust schemes for the first time. 26% of assets in own-trust schemes are in self-select funds – compared to just 16% in master trusts. Own-trust schemes show slightly higher member engagement, with online usage, retirement planning actions and completion of expression of wish forms.
Posted on Thursday Jul 10

Endgames advance as 4th superfund transaction announced

Latest results by LCP’s Pensions Explorer at 30 June 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 Thursday Jul 10

Government urged to change the dial on pensions adequacy

Kate Smith, Head of Pensions at Aegon, calls for bold action in the Government’s pensions adequacy review, which may be announced in the Chancellor’s upcoming Mansion House speech. Aegon is urging the government to use the second phase of its Pension Review to define what pension adequacy means and to take steps to reduce pension inequalities in the UK.
Posted on Thursday Jul 10

DB pension transfer compensation stays low

Average DB transfer compensation remains low albeit compensation still due in many cases with each redress cases assessed on its own merits. CMCs shift focus to other areas where there has been ‘secret commission,’ including motor finance, AVCs and consumer credit
Posted on Wednesday Jul 9

Savers resoundingly back concept of Targeted Support

Consumers welcome Targeted Support’s potential to provide more relevant help with retirement income decisions, greater direction and the filtering out of information that isn’t relevant. Opportunity to reduce anxiety and sense of being overwhelmed when it comes to key retirement decisions. Acceptance that it’s possible to make suggestions for groups of consumers, that are relevant but not personal to them. Study participants recognise they are responsible for the decisions they take as a result of the service, and that they are being given suggestions based on their customer segment.

Posted on Wednesday Jul 9

OBR report on the unsustainable burden of the triple lock

Comment form Jon Greer, head of retirement policy at Quilter on the OBR's fiscal risks and sustainability report and in particular its forecasts around the State Pension costs:
Posted on Tuesday Jul 8

Comments on latest PPF7800 Index update for June 2025

Standard Life, Broadtone and Gallagher comment on the Pension Protection Fund’s 7800 Index update for June 2025 on the latest estimated funding position for all PPF-eligible defined benefit pension schemes. The aggregate surplus of the 4,969 schemes in the PPF 7800 Index increased by £9.4 billion through June 2025, rising from £221.1 billion to £230.5 billion. The funding ratio rose by 0.6 percentage points to 126.2% and the number of schemes in surplus rose to 3,635 representing nearly three-quarters (73.2%) of all schemes in the universe.

Posted on Tuesday Jul 8

PPF publish PPF7800 Index update for June 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 Jul 8

Timing crucial for LGPS Access and Fairness proposals

LGPS administering authorities may struggle to deliver the changes proposed in the LGPS Access and Fairness consultation, because they are already delivering other time-intensive changes such as the McCloud remedy and connection to the Pensions Dashboard, argues Hymans Robertson.
Posted on Tuesday Jul 8

SIPP savers face Retirement Mirage

New research from Barnett Waddingham (BW), reveals a worrying gap between confidence and actual planning among SIPP savers, with nearly two-thirds expecting a comfortable retirement – despite few having set financial goals or used tools to model their income needs. The analysis highlights a ‘retirement mirage’ for thousands of savers and explores the role advice, dashboards, and better planning could play.
Posted on Tuesday Jul 8

Sustained demand for pension risk transfer deals

Morningstar DBRS published a commentary examining the rising demand for pension risk transfer (PRT) deals in light of growing retiree populations and longer life expectancy across the globe.
Posted on Tuesday Jul 8

Comments on the second reading of the Pension Schemes Bill

Hymans Robertson and PensionBee comment on the second reading of the Pension Schemes Bill
Posted on Tuesday Jul 8

DB pension surpluses up GBP26bn in the last year

XPS Group estimates that the aggregate surplus of UK pension schemes against long-term funding targets remains extremely positive at ~£189bn, a fall of £2bn compared to the end of last month, up £26bn versus the end of June 2024. Aggregate scheme assets marginally increased over June 2025, as growth assets experienced positive returns, along with matching assets increasing in line with liabilities. Aggregate scheme liabilities increased slightly, driven by decreases in gilt yields.
Posted on Monday Jul 7

Trustees at the heart of releasing DB pension surplus

A major survey of consulting actuaries, who will be key advisers to trustees in making decisions on the release of defined benefit (DB) pension surplus, has underscored that trustees should be at the heart of the decision process. The majority of respondents to the survey conducted in May by the Association of Consulting Actuaries (ACA) also supported surplus release to be permitted at or marginally above low dependency compared to the current solvency-based level.
Posted on Monday Jul 7

1 in 5 boomers say leaving an inheritance is not a priority

Spending time with friends and family and travel top list of Baby Boomers’ goals. Only 20% aged 60-78 said leaving an inheritance was a top-five retirement priority
Posted on Monday Jul 7

Member experience key factor in insurer selection

Poll results from a recent LCP webinar on the pension risk transfer (PRT) market show that member experience is rising up the agenda for schemes when selecting an insurer.
Posted on Friday Jul 4

DB funding improves H1 2025 but clouds loom on the horizon

Fully-hedged scheme sees funding position increase by 1.0 percentage point to 70.3% at the end of June. 50% hedged scheme sees smaller gain of 0.4 percentage point through June but increases by 2.8 percentage points through H1 2025 to 106.2%. H1 2025 characterised by significant market volatility in the wake of ‘Liberation Day’ with no guarantees of smoother H2.
Posted on Friday Jul 4