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Going solo prompts pensions rethink

Becoming self-employed is a major turning point for peoples’ pension saving, with half (49%) of those with a private pension who have done so changing how they save for the future after leaving PAYE employment. Standard Life research comes as the Pensions Commission warns only 4% of wholly self-employed people are saving into a pension. While a fifth (18%) increase how much they save, a third (33%) reduce, pause or stop pension contributions. The impact of pausing: a five-year pause in contributions in your 30’s could reduce a pension pot by £25,000
Posted on Thursday May 21

Pension schemes increasing their range of endgame options

Aon has said that its 2026 Endgame Survey has highlighted the growing range of endgame options that UK defined benefit schemes are now considering. Conducted during the spring of this year, the survey of over 350 schemes has shown that 85 percent of them have reached a view on their endgame. The remaining 15 percent describe themselves as undecided on the option to take or are deliberately choosing to stay flexible in their approach.
Posted on Thursday May 21

Comments on TPRs report on use of AI in workplace pensions

Hymans Robertson and Lumera comment on The Pensions Regulator (TPR) AI plan on setting out initial expectations for how trustees should govern the use of artificial intelligence (AI). Focusing on the importance of a clear data strategy, ensuring scheme and member data is of high quality and complying with data protection legislation – including as it relates to automated decision-making.

Posted on Thursday May 21

From Payslip to Pension

The Pensions Policy Institute (PPI) is delighted to announce the launch of the fourth report in the From Payslip to Pension: Life Course Impacts on Retirement Saving Among Low Earners series, Modelling of Policy Options for Low Earners
Posted on Wednesday May 20

Urgent action needed to tackle pension under saving

IFoA, SPP and Aviva responds to the Pensions Commission’s interim report saying urgent action is needed to tackle pension under saving
Posted on Tuesday May 19

Industry comments on the Pensions Commission report

Scottish Widows, Barnett Waddingham, Standard Life and TPT Retirement Solution comment on the Pensions Commission report
Posted on Tuesday May 19

Schemes risk missing data complaint rules before deadline

With one month to go until the 19 June deadline, ZEDRA, is urging pension schemes to ensure they are compliant with new statutory requirements governing the handling of member data complaints.
Posted on Tuesday May 19

Hard Rain: Building climate resilience before the storm

Pension Insurance Corporation plc ('PIC'), has warned that parts of England could risk becoming unviable for future infrastructure and housing development, unless the Government takes a more ambitious approach to flood resilience.
Posted on Tuesday May 19

Pensions Commission findings buck received wisdom of success

The Pensions Commission has today published its interim report on the state of retirement saving in the UK, setting out the key challenges facing the current system and where it will focus its work next.

Posted on Tuesday May 19

DWP report highlights gender pensions gap

The DWP today published a new report exploring how labour market histories and life events relate to pension saving and retirement outcomes in the UK. It comes ahead of the interim Pensions Commission report that is set to be published later this week outlining its recommendations for closing the gender pensions gap and for the long-term future of the UK’s retirement system.
Posted on Monday May 18

Pensions 2030 Ready: From commitment to deployment

Pensions UK has published a new report setting out what needs to happen in practice to enable pension schemes to invest more in UK growth assets and drive good outcomes for savers.
Posted on Monday May 18

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