January 2026
09Jan

The future of public pension provision in the UK: challenges and trade-offs

By Jonathan Cribb , Carl Emmerson & Heidi Karjalainen The UK state pension system faces significant challenges given the country’s ageing population, but at the same time it is crucial for retirement finances: state pensions make up on average almost half of income for recently retired households. Reforms coming into force in 2010 and 2016 have increased universality, and most future pensioners will receive a full (flat rate) state pension. Policy-makers seeking to limit the cost of the system have...

January 9, 2026
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09Jan

UK. DWP told to introduce state pension ‘means test’ to ‘guarantee its survival’

The Department for Work and Pensions has been told to "means test" the state pension to "guarantee" its survival. Craig Mackinlay, writing in the Telegraph, called on the Labour Party government and the DWP to make changes. Mackinlay of Richborough is a member of the House of Lords. He was previously the MP for South Thanet and served on the DWP and Public Accounts Select Committees. He is also a chartered accountant and tax adviser. He explained: "My solution was a...

January 9, 2026
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08Jan

Divorced UK women face 61% pension gap

Female divorcees have been found to typically have £53,160 less in pensions savings than divorced men in the UK, according to research by Now:Pensions and the Pension Policy Institute. Divorced women hold just 39% of the pension wealth of divorced men, with the median pension wealth for divorced men standing at £85,800, compared to £32,640 for divorced women. Among married individuals, men hold 61% more with £111,540, versus £43,656 for women. Divorced women’s annual pension income of £13,893 stands at just...

January 8, 2026
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08Jan

UK. Scale, support and sustainability to define DC pensions market in 2026

LCP expects 2026 to be a pivotal year for the defined contribution (DC) pensions market, driven by new regulation taking shape, tax reform and evolving member expectations. LCP is urging employers and trustees to act early to stay ahead of the curve. LCP’s five key areas of focus for employers and trustees are: 1. Pension Schemes Bill Royal Assent for the Pension Schemes Bill this year will introduce value-for-money (VfM) requirements, small-pot consolidation and post-retirement defaults. LCP is advising trustees to start benchmarking...

January 8, 2026
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06Jan

2026 marks beginning of ‘decade of pensions transformation’

UK pension schemes enter 2026 in a robust position with strong funding levels, but the year ahead is expected to mark the start of significant structural change for the system, Penfold has stated. The digital pensions provider noted that defined benefit (DB) pension schemes were collectively running an estimated £223bn surplus, with assets exceeding long-term liabilities by around 24-25 per cent. Meanwhile, defined contribution (DC) assets under management have continued to grow, reaching around £650bn - an increase of roughly 40...

January 6, 2026
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December 2025
23Dec

UK. A Christmas wishlist for the pensions industry

By Nick Reeve With the festive break upon us, it’s time to find out what the pensions industry really wants for Christmas this year. Pensions Expert asked representatives of 21 organisations from across the UK retirement industry to come up with one ‘Christmas wish’ – something they would like to see over the next 12 months. From a smooth passage for the Pension Schemes Bill to collective defined contribution (CDC) schemes becoming a reality, from defined benefit (DB) endgames to the Pensions...

December 23, 2025
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22Dec

Over half of UK savers relying on non-pension assets for retirement

Over half (57 per cent) of UK pension savers are building up retirement savings outside of their pension, with a heavy reliance on cash, raising concerns about long-term outcomes, research from Interactive Investor has revealed. The investment platform found that adults were saving for retirement outside of a pension, using a mix of cash savings, stocks and shares ISAs, buy-to-let property and other investments to build long-term wealth. While the trend points to broader engagement with retirement saving, the findings highlighted...

December 22, 2025
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19Dec

European Financial Ecosystems. Comparing France, Sweden, UK and Italy.

By Stefano Caselli & Marta Zava The study examines the structure, functioning, and strategic implications of financial ecosystems across four European countries-France, Sweden, the United Kingdom, and Italy-to identify institutional best practices relevant to the ongoing transformation of Italy's financial system. Building on a comparative analysis of legislation and regulation, taxation, investor bases, and financial intermediation, the report highlights how distinct historical and institutional trajectories have shaped divergent models: the French dirigiste system anchored by powerful state-backed institutions and deep...

December 19, 2025
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19Dec

UK. ‘Clarity and fresh uncertainty’: Pensions in 2025

UK pensions policy rarely stands still but 2025 delivered a flurry of reforms, consultations and political interventions. From the revival of the Pensions Commission to sweeping changes in the Budget, this year brought both clarity and fresh uncertainty for advisers. By the time we had reached December, it was clear that the big story of 2025 wasn’t one specific reform but the sheer volume of moving parts. One thing is clear: the pace of pensions reform is accelerating In May, 17 of the...

December 19, 2025
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18Dec

UK. Looking ahead: What to expect for the pensions industry in 2026

The Pension Schemes Bill is expected to receive Royal Assent in 2026. The bill will significantly change the current defined contribution (DC) landscape, with the requirement for most multi-employer DC auto-enrolment master trusts and pension schemes to have at least one “main scale default arrangement”. These must have at least £25bn of “qualifying” assets under a common investment strategy by 2030 to continue. Other DC measures include a new value for money framework as of 2028, a “guided retirement” or...

December 18, 2025
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