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Pensions for 9 in 10 DC savers invest in productive assets

TPR says larger schemes more likely to have the right governance standards and invest in a diversified portfolio. Smaller schemes seem less likely to meet TPR’s governance expectations.
Posted on Tuesday Mar 25

Almost 300 buyin transactions completed in 2024 a new record

299 defined benefit (DB) pension scheme buy-ins were completed in 2024 – the largest ever number of transactions completed in a single year, according to analysis by Hymans Robertson. This is an increase of one third from the previous record of 226 buy-ins completed in 2023.
Posted on Monday Mar 24

Transfer Activity index fell to record low in February 2025

XPS Group’s Transfer Activity Index has fallen to the lowest observed rate since the Index was established in 2018. In February 2025, there was an annualised rate of 13 members in every 1,000 transferring their benefits to alternative arrangements. This was the third consecutive month the Index had fallen, suggesting that members are becoming increasingly cautious when making decisions about their retirement arrangements.
Posted on Monday Mar 24

Industry comments as Bank of England puts base rate on hold

Hymans Robertson, XPS Group, LCP and My Pension Expert comment as the Bank of England put base rate on hold at 4.5%
Posted on Thursday Mar 20

From April 2026 you will pay tax on State Pension alone

5.8% wage growth brings Personal Allowance into focus for pensioners ahead of the Spring Statement. As it stands, from April 2026 people could pay tax on the state pension alone. Further inflation-busting state pension rise would feed affordability debate
Posted on Thursday Mar 20

Ten years on and the ongoing impact of Pensions Freedoms

Vast majority (84%) believe they’ve benefited from taking money from their pension. Four in five (79%) say they like having the choice to access their pension in the way they want to. With first post-Freedoms wave of retirees reaching state pension age, long-term sustainability is key.

Posted on Thursday Mar 20

Aon publish the results of their Pension Tracker Q1 2025

The Aon UK DC Pension Tracker rose over the last quarter of 2024, with the mid-career savers seeing the most significant increases. The Tracker increased by around 20 percent over 2024, reversing much of the fall following the 2023 update to the PLSA Retirement Living Standards.
Posted on Wednesday Mar 19

Scottish Widows renew Insight Partnership with the PMI

The PMI is delighted to announce that Scottish Widows has renewed its Insight Partnership with the PMI, to remain its leading authority on Master Trust. As one of the UK’s leading pension providers, the PMI welcomes the extensive expertise and industry knowledge that this partnership will continue to provide its members.
Posted on Wednesday Mar 19

Employers must review salary sacrifice pension arrangements

Aon has said that UK businesses should act now to review their pensions salary sacrifice arrangements both to identify any extra cost savings and to avoid the risk of additional financial burdens.
Posted on Tuesday Mar 18

2025 Scheme Valuations first to comply with TPR Funding Code

DB Schemes completing a valuation this year will be the very first to comply with TPR’s new Funding Code of Practice, providing a perfect opportunity for in-depth review, says Hymans Robertson as its latest publication is released today. The report outlines the key areas of compliance with the new Code – including formalising a long-term objective, integrating these into valuations and submitting a statement of strategy - that trustees must adhere to.
Posted on Tuesday Mar 18

Cash given in lieu of pension contributions to high earners

WTW report reveals three-quarters of UK employers offer cash alternative to pensions for employees restricted by Annual Allowance. However, over half of these employers will reduce the cash value on offer this year, due to rise in Employer National Insurance Contributions
Posted on Tuesday Mar 18

Comments as TPR pledges to support growth

Following the announcement of TPR’s pledges to support growth, please see below for comments from Spence & Partners, PMI, LMG and the ABI
Posted on Monday Mar 17

Average time to buyout for FTSE350 DB pensions has decreased

As of 28 February 2025, Barnett Waddingham’s DB End Gauge index was 4.4 years to buyout. The index fell over the last month from 31 January 2025 to 28 February 2025, from 4.5 years to 4.4 years.
Posted on Monday Mar 17

Moving to salary sacrifice helps employers with increased NI

Huge savings could be made by employers who offset the impending increase in employer National Insurance contributions (NICs) by moving to salary sacrifice for their staff pension contributions, says Hymans Robertson. For every £100,000 of salary employees sacrifice into their pension, the saving in employer NICs will be £15,000 from 6 April. The firm says employers should seriously consider implementing this change which benefits both employers and staff.
Posted on Monday Mar 17

Survey confirms widespread pensions industry take up of AI

The SPP recently conducted a survey of its members to establish the degree of Artificial Intelligence (AI) adoption in the UK pensions industry. The SPP 2025 AI Survey prompted responses from a representative cross-section of SPP members including pension administrators, actuaries, consultants, investment/covenant advisers, pensions lawyers and professional trustees.

Posted on Monday Mar 17

Spring Statement silence on pensions predicted

Aegon give a warning that further pressure on Government spending could put state pension age or triple lock under greater scrutiny. And notes other big changes to pensions coming in months ahead
Posted on Monday Mar 17

70 not out as half of adults confident of working to 70

Over three quarters (78%) of UK workers are confident they could do their job, or one like it, by the time they are 60 however this falls to half (49%) by the age of 70. The biggest concerns to remaining in work are physical and mental health, motivation, and age discrimination. People aged between 60-65 who are currently out of work are twice as likely to be living in poverty compared to those in work
Posted on Friday Mar 14

Average annuity rates up by around 8 percent in 12 months

The Standard Life Annuity Rates Tracker reveals average rates have increased by around 8% since January 2024. This has added £11,020 and £12,960 to the total lifetime income expected for a healthy 65-year-old man and woman respectively.
Posted on Thursday Mar 13

Endgame development options and strong funding persist

Latest results by LCP’s Pensions Explorer at 28th February 2025 show that the combined IAS19 funding level for the UK pension schemes of FTSE100 companies remains strong at around 120% corresponding to a surplus of £60bn. As robust surplus levels continue and survive market volatility, endgame strategy and planning remain high on pension schemes’ agendas.
Posted on Wednesday Mar 12

Changes in legislation for DB pensions could unlock GBP400bn

Regulatory reform could potentially generate £400bn of surplus capital in DB pensions schemes according to analysis by Hymans Robertson. The firm calculates that moving towards growth orientated assets, even at a modest 2% p.a., on top of accessing current surpluses, could unlock £400bn worth of capital over the next decade. The simple change could benefit all stakeholders including employers, pensioners and earners across all salaries. However, the key and biggest benefit could be to the broader economy.
Posted on Wednesday Mar 12

Over a third of over 40s expect to be working into their 70s

Over a third (35%) of over-40s expect to be working into their 70s. Less than two fifths of over-40s (38%) said they feel confident that they will be able to enjoy a comfortable retirement based on their current pension pot and savings. 39% of UK adults say retirement planning makes them anxious.
Posted on Wednesday Mar 12

Comments on the latest PPF7800 Index for February 2025

Broadstone, Standard Life and Gallagher comment as he aggregate surplus of the 4,969 schemes in the PPF 7800 Index is estimated to have decreased by £6.3 billion through February 2025, falling from £239.0 billion to £232.7 billion. The funding ratio fell by 0.9 percentage points to 126.1% and the number of schemes in surplus dropped to 3,691 remaining at around three-quarters (74.3%) of all schemes in the universe.

Posted on Tuesday Mar 11

PPF publish latest PPF7800 figures for February 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 Mar 11

Extra GBP25m paid into MGN Pension after TPR engagement

Following action by The Pensions Regulator (TPR), the MGN Pension Scheme will be fully funded by January 2028, with an additional £25.5 million five-year injection from publisher Reach Plc.
Posted on Tuesday Mar 11

Survey reveals strong opposition to IHT on pensions

90.41% agreed or strongly agreed that the introduction of IHT on unused pensions is both retrospective and unfair. 97.26% agreed or strongly agreed that the proposals force pensions into an IHT regime that does not accommodate the practicalities of current pension rules or administration processes. 97.26% strongly agreed that trustees and providers will incur additional costs to administer the proposals, which are likely be passed on to consumers. 100% agree or strongly agree that the proposals assume the estate of a deceased pension scheme member has the timely information and liquidity to cover any IHT due. 98.63% agree or strongly agree that the proposals will act as a major disincentive for consumers to engage with pensions
Posted on Tuesday Mar 11