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TPRs oversight of largest DC schemes is evolving

Master trusts, some of the UK’s biggest defined contribution (DC) schemes, will be supervised differently to identify market and saver risks sooner and enhance the pensions system.
Posted on Thursday Feb 20

Ongoing confusion over IHT proposals and pension priorities

Sacker & Partners LLP (Sackers), the UK’s leading specialist law firm for pensions and retirement savings, today announced the results of their most recent webinar survey. Its results show ongoing confusion in the industry around Inheritance Tax (IHT) proposals and 2025 priorities alongside some mixed views with the Government’s plans for DC.
Posted on Wednesday Feb 19

Pension disengagement may cost you GBP500k in retirement

Failing to actively engage with pensions during one’s working life could have a staggering financial impact, according to a new report from PensionBee. The findings suggest that ineffective investment strategies, inadequate contributions, and poor pension management could cost savers hundreds of thousands of pounds over their lifetimes.
Posted on Wednesday Feb 19

Women still earning less than men

The TUC has released new analysis into the gender pay gap in the UK. To add to the discussion, Jackie Leiper, Managing Director at Scottish Widows has provided a comment, linking the pay gap to the gender retirement gap and providing some actionable ways women can take to prepare themselves for post-work life.
Posted on Tuesday Feb 18

Targeted Support reforms could spark investing revolution

FCA reforms designed to ensure millions of savers and investors get more useful help with their finances could spark an investing revolution in the UK
Posted on Tuesday Feb 18

Millennials are the generation most concerned about finances

Two-thirds (66%) of Millennials worry they aren’t saving enough for retirement. Millennials also fear short-term financial pressure with over half (53%) anxious about interest rates. It’s not too late – increasing contributions by just 2% at 35 could lead to £36k more in retirement
Posted on Tuesday Feb 18

Time travellers would tell younger selves to save earlier

The latest Financial Priorities survey by Aegon has unveiled significant insights into the advice UK adults would give to their younger selves, with the results highlighting the importance of early saving and future planning. Half of respondents would tell their younger selves to ‘Start saving as early as possible’ (48%). When asked to pick topics people wish they’d learned more about at a younger age, ‘Retirement planning’ came second (17%), behind only ‘Investing and growing wealth’ (22%).
Posted on Tuesday Feb 18

What you can expect from TPR this year

The pensions landscape is rapidly changing towards one of fewer, larger schemes with new products and services being offered every day. Our mission is to protect, enhance and innovate in savers’ interests so that all savers – from every walk of life – can get good retirement outcomes from pensions.
Posted on Monday Feb 17

Roses are red and can keep you out of the red too

Single pensioners on full State Pension face shortfall of £,897 a year income to achieve PLSA’s ‘minimum’ retirement living standard. Meanwhile, a couple both receiving full State Pensions reach the ‘minimum’ with an additional £604 a year on top.
Posted on Friday Feb 14

Scale of annuity providers investment revealed

New data from the Association of British Insurers (ABI) shows that in 2023, £178 billion (65%) of assets held by participating firms providing bulk and individual annuities were invested in the UK.
Posted on Thursday Feb 13

Third of over 55s puzzled by pension withdrawal options

Nearly a third of over 55s are puzzled about the different options for withdrawing money from a pension, according to new research1 from Standard Life, part of Phoenix Group. The findings, almost ten years on from the introduction of ‘pension freedoms’, which gave people flexibility in how they access their retirement savings, reveals that 29% don’t feel confident about the choices available and just a third (32%) feel confident they understand their options.

Posted on Thursday Feb 13

Growth in Sole trustee market predicted to slow down

The sole trustee market should anticipate a persistent slowdown in growth over the longer term says Hymans Robertson in its latest paper, Sole trusteeship: what does the future hold. The paper outlines that there is likely to be an uptick in growth, but it will only be temporary. This spike will be due to continued demand from the 4,000 small DB schemes, 80% of which are not currently governed by sole trustees. However, in the long term the trend of trustee board appointments moving to sole trusteeship will fuel a slowdown in the market.
Posted on Thursday Feb 13

Comment on IFS report on small pension pots

PensionBee comments on the latest report from the Institute for Fiscal Studies, discussing the problems and potential policies regarding small pension pots.
Posted on Thursday Feb 13

72 percent expect responsible pensions from their employer

Nearly three-quarters (72%) of UK employees say it is important that their employer offers a responsibly invested pension*, new research from Scottish Widows reveals.
Posted on Thursday Feb 13

Targeted support needs flexible FCA regulation

Huge opportunity ‘almost within our grasp’ to help reduce the advice gap. But clarity of FOS approach essential to give firms confidence. And exemption from Privacy and Electronic Communications Regulations (PECR) needed for firms to be able to offer proactively
Posted on Thursday Feb 13

LGPS Fit for the Future proposal presents major challenges

Quantum Advisory has emphasised that more work is needed before proposals on the Local Government Pension Scheme (LGPS) framework can move forward.
Posted on Wednesday Feb 12

Another post pension freedoms record for annuity sales

As more people look to secure a reliable retirement income for life, sales of pension annuity contracts jumped 24% in 2024 to 89,600, surpassing last year’s total and reaching a new ten-year high.
Posted on Wednesday Feb 12

AI and Pensions savers want balance not bots

New research from PensionBee, a leader in the UK consumer retirement market, reveals that while UK savers are open to AI playing a role in pension customer support, they are not ready for a fully automated experience.
Posted on Wednesday Feb 12

Trust based schemes making the most of targeted support

In their response to the FCA consultation on the ‘Advice Guidance Boundary Review’ the Association of Consulting Actuaries (ACA) says that they would like clarity regarding how trust-based schemes will be able to confidently make the most of targeted support, even if this is to refer further consideration of this matter to the DWP and the Pensions Regulator.
Posted on Wednesday Feb 12

Comments on latest PPF 7800 Index figures from the PPF

Standard Life and Broadstone comment on latest PPF 7800 Index figures for January 2025. The aggregate surplus of the 4,969 schemes in the PPF 7800 Index is estimated to have increased by £12.9 billion over January 2025 to £239.0 billion from a surplus of £226.2 billion at the end of December 2024. The funding ratio rose by 1.3 percentage points to 127.0% and the number of schemes in surplus also grew to 3,732 accounting for over three-quarters (75.1%) of all schemes in the universe.

Posted on Tuesday Feb 11

DC Master Trusts plan outsized illiquid asset investments

Isio research finds that the DC master trust provider market remains split between those retaining a single default strategy and those moving to a dual ‘Core and Premium’ model. The target allocations to illiquids vary significantly across the market – from less than 5% in core defaults, to up to 30% in premium defaults. The single default approach sits broadly in the middle (c.10%).
Posted on Tuesday Feb 11

Gender pension gap set to keep rising

Across all working-age groups, a smaller proportion of women contribute to their occupational DC pension than men. Consequently, men aged 16+ have double the size median DC pension of women.
Posted on Tuesday Feb 11

Council votes for zero pension contributions for coming year

Following the announcement that the Royal Borough of Kensington and Chelsea Pension Fund’s investment committee have voted for Council pension contributions to be cut to zero for the next financial year, LCP are calling for updated guidance for how councils can make such requests.
Posted on Tuesday Feb 11

Many DC schemes underestimating effects of gilt volatility

Aon has said that the effects of the gilt market volatility of the last few years are still too often underestimated by those running UK defined contribution (DC) pension schemes and can have a significantly adverse impact on member outcomes.

Posted on Tuesday Feb 11

PPF publish latest PPF 7800 Index figures for January 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 Feb 11