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PSIG announces outcome of Consultation

The Pensions Scams Industry Group (PSIG), which was established in 2014 to help protect pension scheme members from scams, today announced the feedback from their recent consultation - ‘Evolution or Extinction’.
Posted on Friday Dec 20

Wish list for the occupational pensions industry in 2025

As one year closes and another begins, it's an opportune moment to set our sights on the future. The UK occupational pensions industry faces numerous challenges and opportunities in 2025. Here is my wish list that outlines key areas for development in the coming year.
Posted on Friday Dec 20

Transfer values fell to a 12 month low during November

XPS Group’s Transfer Value Index reached a 12-month low, dropping to £151,000 during November 2024 before then recovering to its previous month-end position of £153,000. This continues the trend seen across 2024 of the Index remaining low and being broadly flat.
Posted on Thursday Dec 19

New tracker launched to benchmark a typical DC pension pot

XPS Group launches ‘DC:UK Savings Watch’, a tracker comparing the projected value of a typical DC pension pot at retirement with the PLSA/Loughborough University Retirement Living Standards’ three levels: minimum, moderate and comfortable.

Posted on Wednesday Dec 18

Market volatility remains the key barrier to endgame

46% say market volatility is the key barrier to pursuing their endgame strategies – remaining top of the list for a second year running. The TPR’s new DB Funding Code, trapped surpluses, and attracting insurer interest among other key barriers for DB pension scheme trustees.
Posted on Tuesday Dec 17

Analysis shows GBP45bn of economic value via surplus refunds

FTSE350 DB pension scheme sponsors could unlock £45bn of economic value via surplus refunds, based on funding positions at 30 November 2024, according to DB End Gauge analysis from Barnett Waddingham (BW), a leading UK professional services consultancy.
Posted on Monday Dec 16

Delayed Pensions Review

Commenting on the news regarding the delayed Pensions Review, Calum Cooper, Head of Pensions Policy innovation, says: “Confirmation over the weekend that the long awaited DWP Pensions Review has now been delayed indefinitely ends weeks of hope that this would launch by the end of 2024 - cementing the government’s promise and commitment to retirements savings and adequacy for all.
Posted on Monday Dec 16

Biggest barriers against LGPS funds hitting net zero targets

The unavailability of assets with natural capital and a lack of appropriate data are the biggest barriers that stand in the way of LGPS funds hitting their net-zero goals, according to research by Hymans Robertson.
Posted on Friday Dec 13

New FCA pension proposals could give millions more support

The FCA has set out proposals for extra support for millions of UK savers to help them make better decisions about their pensions. This is part of a wider review of how the boundary between advice and guidance on investments operates, which is underway to help make sure consumers are better supported.
Posted on Friday Dec 13

Clara Pensions and Wates Group complete 3rd superfund deal

1,500 members of the Wates Fund set to join Clara, the UK’s only defined benefit ‘superfund’, strengthening their journey to an insured buyout. All members will continue to receive their pension entitlements, with Clara and Wates injecting new capital to enhance the security of members’ benefits. This is the third UK superfund transaction and the first with an active sponsor demonstrating the broad appeal of Clara. Clara’s pipeline of schemes that are looking to transact grows to over £5bn of liabilities
Posted on Thursday Dec 12

PPF Board look to January for levy decision

Following positive engagement with stakeholders as part of their consultation on the 2025/26 levy rules the PPF will conclude its decision making in January.
Posted on Thursday Dec 12

DB pension funds struggling to set long term funding targets

74% of trustees say that long-term funding targets have not yet been set. Across all schemes, an average of 68% have changed their long-term funding targets over the last 12 months. 45% of trustees believe it will take their medium-sized schemes over 10 years to reach their funding targets.
Posted on Thursday Dec 12

Key trends for the DB derisking market in 2025

2024 has been another strong year for the DB risk transfer market, with volumes expected to sit at around £45bn. The market remains strong, with activity levels showing no signs of slowing down, and many of the trends we have seen this year will continue to evolve and push transaction volumes in 2025.

Posted on Wednesday Dec 11

Launch of the Trustee Sustainability Working Group

We are pleased to announce the launch of the Trustee Sustainability Working Group. This group of Professional Trustees, members of the Association of Member Nominated Trustees and other interested Trustees has been formed with the aim of accelerating good investment practice around sustainability across the pensions industry. Climate change will be a key early focus of the Committee.
Posted on Wednesday Dec 11

Comment on HM Treasury call for Evidence

Aegon is calling for prioritised sequencing of the particularly long list of Government and regulatory proposals to deliver consumer benefit and UK economic growth. Government encouragement to regulators to support growth, innovation and measured risk-taking despite recent APPG criticism. Swift progress with the ‘game changing’ Advice Guidance Boundary Review, where targeted support could benefit both consumers and UK economic growth
Posted on Wednesday Dec 11

Industry comments on the PPF changes to the PPF 7800 Index

Broadstone, Standard Life and Gallagher comments on The Pension Protection Fund’s 7800 Index December update on the latest estimated funding position for all PPF eligible defined benefit pension schemes.
Posted on Tuesday Dec 10

A role for targeted support at retirement

Phoenix Insights, Phoenix Group’s longevity think tank, has commissioned research to bring informed individual consumer voices into the debate around the role of targeted support in financial decision-making.
Posted on Tuesday Dec 10

Take the Credit

Most (93%) pensioners use various benefit, offer and discount schemes available to them at retirement. But more than a fifth (21%) aren’t aware they would be entitled to any other benefits if they qualified for Pension Credit. A free TV licence for those aged over 75, help with NHS dental treatments and help with rent costs through Housing Benefit are among the additional benefits that can be accessed through Pension Credit.
Posted on Tuesday Dec 10

The PPF announce changes to the PPF 7800 Index

This edition follows publication of the Purple Book 2024. As such, we’ve updated the index to reflect the latest data. Alongside that, we’ve introduced a number of changes to the roll-forward calculation methodology used to estimate the asset and liability values in the Purple Book and 7800 index.
Posted on Tuesday Dec 10

2025 pension predictions on tax relief, scams and adequacy

After a busy year for the pension market in 2024, Broadstone, a leading independent financial services consultancy, has pulled out what it thinks will, could and should happen in 2025.
Posted on Tuesday Dec 10

Boomer vision as over 50s underplan for shocks in retirement

Pension savers aged 50+ in the UK consistently underperform younger savers when it comes to financially planning for ill-health, relationship shocks, and urgent financial support needs from their wider family in retirement. Much of this can be explained by a self-interested approach to retirement planning, focused on personal income and spending rather than that of one’s relationship or wider family.
Posted on Monday Dec 9

5 top tips on different ways to access your pension savings

The Money Purchase Annual Allowance (MPAA) is not triggered when buying a lifetime annuity. This means people maintain their full annual savings allowance in a way that is not permitted if you move to drawdown or start taking cash lump sums. Just 5% of over 50’s are familiar with the term MPAA and when this is triggered, Standard Life research reveals.
Posted on Monday Dec 9

New innovative deal expands portfolio of endgame options

Latest results by LCP’s Pensions Explorer at 30th November 2024 show that the combined IAS19 pensions surplus for the UK pension schemes of FTSE100 companies has increased over the month to over £65bn.
Posted on Monday Dec 9

The biggest year of change for DC pensions since AE

Richard Birkin, Head of DC Pensions at Isio said: “2025 is shaping up to be the biggest year of change for DC pensions since the introduction of auto-enrolment. Consolidation will dominate, with own-trust schemes continuing the transition to master trusts as the master trusts strive to become the so-called megafunds.
Posted on Monday Dec 9

The PPF has published the Purple Book for 2024

Net funding position remains strong with a modest improvement from last year. Net surplus stands at £219 bn, with funding ratio at 123 per cent. Bond allocations rise to 70 per cent; equity allocations fall to 15 per cent. Enhanced roll-forward methodology together with updated scheme status data applied enabling DB funding picture to be shown in more absolute terms.
Posted on Thursday Dec 5