December 2025
02Dec

UK. FCA unveils ESG ratings proposals; consultation launched

The Financial Conduct Authority (FCA) has unveiled proposals to ensure that environmental, social and governance (ESG) ratings are transparent, reliable and comparable, following the government's decision to bring ESG ratings within the regulator's remit for the first time. The reforms, which are expected to generate around £500m in net benefits over the next decade, form part of a new consultation launched by the FCA, which is open until 31 March 2026. According to the regulator, the decision to bring ESG ratings...

December 2, 2025
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01Dec

Korea Strengthens Financial-Regulatory Alliance to Channel Pension Capital into Venture Growth

Korea is taking another decisive step toward deepening the link between finance and innovation. The Ministry of SMEs and Startups (MSS) and the Financial Supervisory Service (FSS) have signed a new agreement that could reshape how institutional funds, including pensions and retirement capital, flow into venture investment. This move has shown Korea’s determination to strengthen the foundations of its venture ecosystem and support its global startup ambitions. MSS and FSS Forge Alliance to Expand Venture Investment Channels The MSS and FSS signed a memorandum of understanding on...

December 1, 2025
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November 2025
28Nov

PPI Digest: Autumn Budget 2025

By Pensions Policy Institute Clearly, very difficult choices have had to be made in the Budget today. It was always unlikely that pensions would escape completely from this, even though both the Pensions Schemes Bill and the new Pensions Commission are seeking ways to increase the amount of money that future generations will have to support themselves in retirement. The introduction of a contributions cap of £2,000 on salary sacrificed pension contributions from 2029 will not affect many of those who...

November 28, 2025
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28Nov

UK Budget 2025: limitations on pensions salary sacrifice will lead to ‘cut-backs’

Plans by the UK government to charge employer and employee national insurance contributions (NICs) on salary sacrificed in exchange for employer pension contributions above £2,000 from 2029 will leave future pensioners facing lower funds, according to an expert. Pensions salary sacrifice describes an arrangement where, instead of paying contributions directly to their pension, an employee contractually agrees with their employer to give up part of their salary or bonus in return for the employer paying an equivalent amount into their...

November 28, 2025
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21Nov

Global pension trends: What to expect in 2026

By Julien Halfon  Pension reforms are at an inflection point as UK and Dutch pension systems enter 2026 with high funding ratios, regulatory clarity, and the scope to re-risk in controlled ways. We expect much wider adoption of cash-flow driven investing strategies for defined benefit plans and some re-risking for the forthcoming Dutch Collective Defined Contribution system. The high equity tolerance of US defined contribution plans is broadening, while allocations to private markets, particularly private credit and infrastructure, continue to...

November 21, 2025
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21Nov

UK. Climate change must be included in any pensions review

There has been a call for the government to consider climate change risks in its any review of the pension system. The chief executive of the UK Sustainable Investment and Finance Association, James Alexander, has written to the Pensions Commission. In the letter he warned that climate change risks and the opportunities of the net zero transition “cannot be divorced” from any review into the pension system. He wrote: “As we approach 2050 and beyond, and as global temperatures continue to increase, the...

November 21, 2025
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20Nov

EU. Commission proposes to boost supplementary pensions to help ensure adequate retirement income

The European Commission has today adopted a package of measures to help citizens secure adequate income in retirement by improving access to better and more effective supplementary pensions. The proposed actions aim to complement - not replace - public pensions, which are the foundation of pension systems in all Member States. Today's package forms part of the Commission's Savings and Investments Union (SIU) Strategy which seeks to create more opportunities for households to build their wealth through capital markets, while...

November 20, 2025
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19Nov

IRS Releases Updated Retirement Plan Annual Limits and Includes Unexpected Increase

The IRS released the cost-of-living adjustments for qualified defined contribution plans for the 2026 tax year (IRS Notice 2025-67). The following chart summarizes the key increases applicable to defined contribution plans for 2026: 2026 2025 Defined contribution plan limit $72,000 $70,000 Elective deferral limit (401(k), 403(b), and 457(b)) $24,500 $23,500 Catch-up contributions (Age 50+) $8,000 $7,500 Super catch contributions (age 60-63) $11,250 $11,250 Roth catch-up wage threshold for 2025 $150,000 Annual compensation limit $360,000 $350,000 Unexpected by many employers, the IRS changed the Roth catch-up contribution FICA wage threshold for 2025 (used to determine the limited status for 2026) from...

November 19, 2025
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19Nov

Is Rachel Reeves About to Shake Up UK Pensions in the Autumn Budget?

Without changes to the personal allowance, the ‘triple lock’ is set to push pensioners into the taxpayer bracket. The UK state pension guarantee is unlikely to be changed at the Autumn Budget but could be axed in the future. The chancellor is already under significant strain after a reported U-turn on raising income tax. Some UK pensioners could pay tax for the first time if further increases to the UK state pension push them over a key income tax threshold. This could...

November 19, 2025
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18Nov

UK Pensions briefing | Government gives the green light to major collective DC expansion

The Government has published a response to its October 2024 consultation on the extension of the collective defined contribution (CDC) scheme regime to unconnected employers. It has also published and laid before Parliament final draft regulations which are due to come into force on July 31, 2026. In addition, it has published a consultation paper on “Retirement CDC” schemes offering a default income solution for members at retirement. The consultation closes on December 4, 2025. What are CDC schemes? In a CDC scheme, employers’ and members’...

November 18, 2025
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