October 2025

A systematic review and meta-analysis of air pollution and increased risk of frailty

By Zahra Jafari, Melissa Andrew & Kenneth Rockwood Background Environmental air pollution is increasingly recognised as a potential contributor to frailty. This systematic review and meta-analysis aimed to synthesise existing evidence on the associations between environmental air pollution and frailty in middle-aged and older adults, providing insights into the impact of air pollution on public health. Methods The systematic review and meta-analysis were conducted according to the Preferred Reporting Items for Systematic Reviews and Meta-Analyses Statement 2020. Four electronic databases were searched without...

Venture & growth capital in Europe – mapping pension funds’ attitudes

By Pensions For Purpose Across Europe, pension funds manage over €3tn in assets, yet only roughly 0.12% is allocated to venture and growth capital (VC). Meanwhile, VC investment in Europe totalled €15bn in 2023. These numbers together highlight two persistent questions: can allocation to VC be compatible with the fiduciary duties of pension funds? If so, why has the historical aggregated allocation of pension funds to this asset class been so modest? To address these questions, we embarked on a journey...

September 2025

Aligning your pension scheme with the Taskforce on Climate-Related Financial Disclosures recommendations

By Department for Work and Pensions This guide aims to help trustees evaluate the way in which climate-related risks and opportunities may affect their strategies. Trustees should consider how different investments and strategies could be impacted by transition and physical risks, at an asset class, sector and firm level where appropriate. Schemes should set out what risks and opportunities they consider to be relevant or material to them over the short/medium/long term time horizons for their scheme. They should use scenario analysis...

2025 Individual Investor Survey: Welcome to the age of diminished expectations

By  Natixis Investment Managers Investors have been on an emotional roller coaster over the first 25 years of the 21st century. On the downside, they held on for dear life as the dotcom bubble, Global Financial Crisis, European debt crisis, Covid, and a historic bout of inflation played out in the headlines and their portfolios. But along with the losses, investors found compelling gains. A decade of record-low interest rates buoyed stocks, and the tech sector boomed. It was a thrill ride...

Retirement income market data 2024/25

By Financial Conduct Authority We have collected data on the retirement income market since April 2015. The data helps us monitor developments. For example, it gives us insight into the actions consumers take the first time they access a pension pot. Previously published data up to March 2018 is also included in separate tables. The data for these periods was initially drawn from a representative sample. We started collecting data from all regulated firms that provide retirement income products from 1 April...

OECD Employment Outlook 2025: Can We Get Through the Demographic Crunch?

By Organisation for Economic Co-operation and Development Over the past two decades, population ageing, increasing statutory retirement ages and rising education levels have led to higher employment rates among workers aged 55 and above in OECD countries. However, progress across countries remain uneven, and employment rates decline rapidly from age 60, such that many workers are leaving employment well before reaching the eligibility age for a pension. To sustain living standards and address structural labour shortages, many countries will need...

The world’s largest pension funds – 2025

The global top 300 pension funds is an annual study conducted by the Thinking Ahead Institute, in conjunction with Pensions and Investments. The research highlights high-level trends in the pension fund industry and provides information on how the characteristics of these top funds have changed. The world’s top 300 pensions funds now stand at a record US$ 24.4 trillion This surpasses the previous record set in 2021, completing a three year recovery Yet asset growth slowed in 2024, increasing by 7.8% from...

2025 Read on Retirement survey

By BlackRock Workplace savers are feeling more confident about retirement—but plan sponsors aren’t on the same page. As the gap in outlook widens, advisors have a critical role to play. Uncover the insights shaping this divide. Navigating uncertainty and a growing divide Saver confidence is up but fragile. This year’s dip underscores how closely confidence tracks with market volatility. And while savers feel increasingly sure, only 38% of employers believe the majority of their employees are truly on track—a record low. The...

The Future of Labour: How AI, Technological Disruption and Practice Will Change the Way We Work

By Anthony Larsson & Andreas Hatzigeorgiou The Future of Labour: How AI, Technological Disruption and Practice Will Change the Way We Work is an anthology that offers a forward-looking exploration of how artificial intelligence (AI), digitalisation and technological transformation are reshaping the future of work. Through a series of studies conducted by scientists and industry professionals, this volume takes a deep dive into many of the issues related to new policies, AI and the digital transformation’s anticipated impact on the labour market....

Mortality and the Provision of Retirement Income

By Organisation for Economic Co-operation and Development This report analyses the development of mortality assumptions to build mortality tables to better protect retirement income provision. Mortality assumptions are necessary to ensure the sustainability of lifetime incomes. It explores considerations and traditional approaches for developing mortality tables, as well as provides an international overview of longevity trends and drivers over the last several decades, including the impact of the COVID-19 pandemic. The report also details the standard mortality tables developed across...