July 2026

UK Pension Schemes Act a mixed bag for impact investors

The UK Pensions Scheme Act, which became law in April, seeks to reinforce the consolidation of a fragmented pensions industry to improve outcomes for savers and, potentially, direct more institutional funding into under-invested areas of the economy. That could herald greater institutional investment in impact funds and other impact-related investment vehicles, but it remains unclear how effective the act will be in achieving that. One headline measure is the creation of multi-employer, defined contribution (DC) megafunds of at least £25bn (€28.9bn),...

June 2026

Heatwaves could ruin your pension, according to UK’s Pensions Professionals

Heatwaves are jeopardising retirement as extreme weather events threaten investment returns, the pensions industry has warned. Climate change is becoming a major risk for trillions of pounds in pension savings as increasingly unpredictable weather damages assets, disrupts supply chains and hits productivity, according to a report by the Society of Pension Professionals (SPP). Calum Cooper, the president of the SPP, said: "Put simply, you can't separate the future of pensions from the future of the economy. And you cannot separate the...

AI In Pensions: The Pensions Regulator Sets Out Its Views

The Pensions Regulator (TPR) has published a plan providing guidance on how AI should be used by the pensions industry (the Plan). The Plan also outlines TPR’s role in, and approach to, overseeing the adoption of AI by pension schemes. Further guidance on the responsible adoption of AI is expected to come later in 2026. Trustees and their service providers may be using AI-driven processes in pensions contexts such as member benefits calculations, transfer requests, or communications, as well as internal and...

UK to review pension transfer rules after unusual deal

Britain will review defined benefit pension transfer rules after ​a novel deal saw an ‌asset manager take on a scheme's assets and liabilities in an unanticipated ​use of existing legislation, ​a government minister said on Tuesday. Torsten ⁠Bell, a junior minister in ​the finance and pensions departments, ​said the deal used a flexible apportionment arrangement – a mechanism introduced in 2012 ​to allow pension liabilities to ​be reassigned during corporate restructurings without triggering ‌employer ⁠insolvency. Bell said the asset manager used...

Indonesia: OECD delegation commends reform measures in insurance and pension fund sectors

The Organisation for Economic Co-operation and Development (OECD) has commended the various reform measures being implemented by the Financial Services Authority (OJK) in the insurance and pension fund sectors to strengthen financial sector resilience, enhance consumer protection, and encourage healthy and sustainable industry development. A statement released by the OJK said that the remarks were made by Mr Pablo Antolín, Head of Insurance and Pensions at the OECD, who is on a fact-finding mission. The OECD visit, from 5th to 11th June,...

May 2026

Zero-Trust Architecture for Multi-Tenant SaaS Platforms on AWS:A Practitioner Framework for Authentication, Authorisation, and KYC in Regulated Financial Services

By Alan Terriaga Multi-tenant Software-as-a-Service (SaaS) platforms operating in regulated financial services face a unique intersection of security, compliance, and operational challenges that traditional perimeter-based architectures cannot adequately address. This paper presents a practitioner framework for implementing Zero-Trust Architecture (ZTA) across all layers of an AWS-hosted SaaS application, with particular focus on the authentication, authorisation, and Know Your Customer (KYC) verification pipelines that underpin financial compliance obligations. Drawing on direct engineering delivery experience leading IAM systems in regulated multi-tenant environments, we...

Jamie Fiveash appointed as Pensions UK chair

Pensions UK has appointed Smart UK chief executive, Jamie Fiveash, as the new chair of the association. Fiveash will start a three-year term on 1 July 2026. He succeeds Emma Douglas, who is stepping down to take up her new position as chair of The Pensions Regulator. Fiveash has over 30 years of experience across financial services and over 15 years of c-suite and board-level leadership. As chief executive of Smart UK, Fiveash leads the £9.5bn Smart Pension master trust with two...

Pension Policy Preferences: Beliefs about Others

By Carmen Sainz Villalba This paper studies the relationship between preference for government regulation on pensions both for the respondent and for the population as a whole. We conduct a survey experiment where we provide information on own characteristics and on characteristics about individuals in other income brackets to assess the impact on the preferences for themselves and others. We find that respondents who overestimate the pension coverage for low income earners are more likely to want less regulation for...

UK Pensions | The Mansion House agenda: a legislative turning point

When we last examined the Mansion House agenda in January (see here), we noted the tension between voluntary commitments to UK and alternative asset investments and the trade-offs inevitably involved when changing investment strategy. In the background there loomed the prospect of a sweeping reserve power in the Pension Schemes Bill, by which the Government could mandate investments in certain assets (commonly referred to as the “mandation” power). Things have now moved on. The Bill is now the Pension Schemes Act...

Bulgaria. Regulator Proposes Higher Pension Fund Reserves, Stronger Safeguards for Insured Persons

Bulgaria's Financial Supervision Commission (FSC) has approved at first reading draft ordinances on higher reserve requirements for pension insurance companies and stricter rules for protecting insured persons' funds, the regulator said on Tuesday. The changes follow up on amendments to the Social Insurance Code and concern the introduction of multi-funds in supplementary pension insurance. Higher reserves to guarantee contributions The most significant change concerns higher capital coverage requirements due to the continued growth of assets managed by pension funds. Currently, the gross...