December 2025
04Dec

UK. Securing our future: Climate risk and the Pension Schemes Bill

The government is undertaking a once-in-a-generation review of the UK pensions system. It is much needed, and they have made some welcome proposals. However, they are missing the single biggest threat to long-term retirement security: climate change and the accelerating destruction of nature. By refusing to confront this reality, they are letting down pension savers and the pensions industry alike. UK pension schemes continue to hold substantial investments in fossil fuels, including new coal, oil and gas projects. These investments drive...

December 4, 2025
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03Dec

UK. People’s allocates £3.6bn to emerging markets with new mandate

The People’s Pension has awarded a £3.6bn emerging markets mandate to Robeco – the latest in several investment strategy changes as it gears up for a period of growth. The £38bn master trust has shifted to an active, quantitative investing approach as part of the move, it said in a press release. The allocation was previously passive and run by State Street. People’s said the new mandate ensured “greater alignment with the scheme’s evolving responsible investment policy”, as well as aiming for...

December 3, 2025
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03Dec

UK. Pension opt-outs ‘early sign’ of mounting financial pressure

Around 15 per cent of employers reported that at least 2 per cent of their workforce have reduced or opted out of pension contributions over the past year, according to Broadstone’s latest UK Employee Benefits Landscape Report. The consultancy warned that the trend is an early sign of mounting financial pressure and weakening saver confidence at a time when adequacy is already under scrutiny. The report also found that among employers who adjusted their benefits packages following the Autumn 2024 Budget, 43 per...

December 3, 2025
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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

UK pension schemes ignoring climate change responsibilities

That vast majority of the UK's largest pension schemes are failing to directly engage with large investee companies on their role tackling climate change. After analysing the 16 largest pension schemes, managing over £34bn in assets, ShareAction found that only Nest and TPT Retirement Solutions directly engage with big companies on climate risks. This is despite new regulations requiring pension funds to publish policies on how they incorporate environmental, social, and governance (ESG) issues in their investments. It was also found that the majority...

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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25Nov

UK. People’s Pension reduces government bond exposure over volatility concerns

The People’s Pension has overhauled the £6bn pre-retirement section of its default fund, cutting cash and sovereign bond exposure in favour of a global portfolio of short-dated corporate bonds. The £35bn master trust said the changes were intended to “deliver better long-term outcomes” for older savers while continuing to manage drawdown risk. It said recent fiscal concerns had driven heightened volatility in government bond markets, reducing the appeal of sovereign debt on a risk-adjusted basis. UK and US government bonds have experienced...

November 25, 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

Less than half of UK consumers believe their pension offers good value

Less than half (47 per cent) of UK consumers consider their pensions, including workplace pensions and personal or self-invested personal pensions, to be good value, according to research conducted by Royal London in collaboration with the Lang Cat. The 2025 Meaning of Value research surveyed 2,000 UK consumers and found that 40 per cent of UK consumers are neutral on the value of their pension, while 5 per cent think that their pensions are poor value. The survey also asked them, for each...

November 20, 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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