November 2026
05Nov

UK. DWP Winter Fuel Payment threshold warning over pensioners’ incomes

As millions of people prepare to receive financial assistance with their heating bills this winter, pensioners with a taxable income exceeding £35,000 per year are being cautioned that HMRC could reclaim their Winter Fuel Payment. Eligible pensioners in England, Wales and Northern Ireland can receive between £100 and £300 for winter 2026/27, with the majority of payments expected to be made automatically in November or December. However, the Department for Work and Pensions (DWP) has reminded households that those with...

November 5, 2026
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October 2026
30Oct

How much?! Looking beyond headline CDC uplifts

By Hymans Robertson Much of the debate around Collective Defined Contribution (CDC) schemes has focused on their potential to improve retirement adequacy. But higher income is only one part of a good retirement outcome. Certainty, flexibility, an income for life and the ability to leave money to family can all matter too. So, how much more income could CDC provide? It depends on what we compare it against, who the comparison is for and what outcome we’re trying to achieve. In our...

October 30, 2026
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30Oct

UK. Industry raises concerns over Pension Tax Allowance and triple lock changes following Budget

The pensions industry has raised concerns over the government's new Pension Tax Allowance and changes to the state pension triple lock following yesterday's Autumn Budget, while welcoming measures to improve the treatment of pension death benefits and support guided retirement. Despite a relatively quiet Budget for private pensions, industry experts warned the new allowance could add complexity and potentially penalise pensioners with modest private savings, while questions remained about the long-term implications of the adjusted triple lock. Pension Tax Allowance One of...

October 30, 2026
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29Oct

UK. CDC income uplift figures risk ‘oversimplifying’ retirement outcomes

Headline income uplifts from collective defined contribution (CDC) pension schemes risk oversimplifying potential benefits for members, as factors such as income certainty, flexibility and inheritance also need to be considered, Hymans Robertson has warned. In its latest paper, How much?! Looking beyond headline CDC uplifts, the consultancy argued that focusing on a single uplift figure could give a misleading picture of CDC's value compared with other retirement options, such as annuities and drawdown. The research suggested that CDC could deliver an...

October 29, 2026
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29Oct

UK. Do growing pension assets mask an alarming democratic deficit?

In A Source of Blessing, Mick describes the evolution of railway pension provision from the era of Victorian friendly societies, through nationalisation, British Rail and privatisation to the enormous £36bn behemoth that exists today. In doing so, he has also revealed some of the challenges and conflicts that had to be addressed – whether in design, funding or regulation, along with the importance of effective governance and collective provision in meeting those challenges. Above all, Mick reminds us that the long-term...

October 29, 2026
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28Oct

UK. Healey to shield low-income pensioners from income tax in the Budget

Pensioners on low incomes will be shielded from income tax by Chancellor John Healey in his first Budget on Wednesday. The full, flat-rate state pension is expected to increase by 3.9% to £13,036.40 a year from April. This would take the payment above the £12,570 personal tax allowance and therefore be liable for income tax if no changes are made. The government had already committed to not taxing people who only get an income from the state pension. Healey will explain...

October 28, 2026
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23Oct

UK regulator urges pension trustees to stress-test over AI concentration risk

British pension funds could have greater exposure to AI-related risks than trustees realise, Britain's pensions ​regulator said on Thursday, and urged them to ‌challenge advisers on how a market downturn could affect their portfolios. In a statement the Pensions Regulator, or TPR, said AI ​was increasingly embedded across sectors, meaning even an ​apparently diversified portfolio could have "hidden exposure". It said trustees ⁠should assess both direct and indirect AI-related exposure across ​asset classes and stress-test how portfolios would perform under ​severe...

October 23, 2026
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22Oct

UK. Full state pension will rise by nearly £500 next April under the triple lock

The full state pension will rise by £9.40 a week to around £250.70 from next April under the triple lock guarantee. On a yearly basis, it will rise by £489 - climbing from £12,547 to £13,036 - delivering another inflation-beating rise for pensioners. Under the triple lock the state pension increases every year by the highest of 2.5 per cent, inflation or average earnings growth – and the last of these outstripped the rest this time. Wage growth came in at 3.9...

October 22, 2026
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16Oct

When Retirement Faces Climate Risks: Linking Socio-Economic Pathways with Financial Outcomes

By Stephanie Neal & Laurens Swinkels Standard analyses of retirement adequacy focus on financial metrics such as contribution rates and replacement ratios, while climate scenario studies typically emphasize broad macroeconomic outcomes. Neither approach, however, directly addresses what matters most to individuals: the quality of life in retirement. Retirement security under climate change is inherently multidimensional, shaped not only by financial wealth but also by health systems, infrastructure, environmental conditions, and social resilience. We develop an integrated framework that combines qualitative...

October 16, 2026
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16Oct

Managing risks and achieving scale key to CDC’s success

Pension professionals believe collective defined contribution (CDC) pensions can be made simple enough to catch on, but their success will depend on addressing the risks and trade-offs, achieving scale, and getting schemes up and running quickly. Speaking during a panel session at the Pensions UK Annual Conference, Sackers partner, Jacqui Reid, said the industry must be “really cognisant” of CDC's risks and trade-offs. However, she believed it will become a mainstream benefit in the not-so-distant future. Kingfisher pensions director, James Chemirmir, agreed...

October 16, 2026
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