September 2025
19Sep

Pensions UK urges small pension pot consolidation by 2030

The pensions industry should drive small pension pots consolidation by 2030, trade body Pensions UK has urged. In its Small Pots Feasibility Review, the organisation looked at how to resolve the issue of small pensions pots. It pointed out that small pension pots are costly to deliver and confusing for savers. Torsten Bell, Minister for Pensions, said: “With more small pots than pensioners in the UK, too many people are losing track of their hard-earned savings. This is bad for pensions savers...

September 19, 2025
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18Sep

UK. All generations expect to fall short of a comfortable retirement

Most UK pension savers believe they will fall short of a comfortable retirement, with rising debt, delayed retirement and low levels of financial knowledge fuelling concerns across all generations, according to Interactive Investor’s sixth Great British Retirement Survey. The research, conducted with Opinium Research and based on responses from 9,000 people, found that six in 10 savers expect retirement wealth of less than £300,000, well below the £330,000 benchmark estimated by the Pensions UK Retirement Living Standards (RLS) for a moderate...

September 18, 2025
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18Sep

UK. Policy rumours and Budget speculation prompt ‘surge’ in pension withdrawals

There has been a significant increase in the amount of money being withdrawn from pensions, with a particular "surge" seen in those accessing large pension pots, the latest Retirement Income Market Data from the Financial Conduct Authority (FCA) has revealed. The figures showed that the amount of money withdrawn from pensions had risen by 35.9 per cent over the past year, increasing from £52.152bn in 2023/24 to £70.896bn in 2024/25. The number of pension plans accessed for the first time has...

September 18, 2025
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17Sep

UK. State pension likely to rise by 4.7% in April

People drawing their new state pension from April are likely to see a rise of more than £500 a year, latest wages data suggests. Under the "triple lock" policy, the state pension goes up each year by either 2.5%, inflation, or average earnings growth - whichever is the highest figure. The Office for National Statistics (ONS) revealed total pay including bonuses for the three months to July was 4.7%, which is likely to be the figure used for the annual increase. Almost...

September 17, 2025
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15Sep

More than half of UK adults unaware of key pension policy changes

More than half of UK adults (51 per cent) are unaware of upcoming pension policy changes that could have a major impact on their retirement plans, according to new research from Schroders Personal Wealth (SPW). The 2025 SPW Retirement Report, based on a survey of 1,500 UK adults, revealed significant knowledge gaps around shifting pension rules and wider financial planning, with many people still working on assumptions that may no longer hold true. For example, despite 29 per cent of respondents saying...

September 15, 2025
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12Sep

UK. What longevity trends mean for pensions and insurers

Over the last two centuries, average life spans have doubled. For pension schemes, insurers and policymakers, this long-term trend has shaped how we think about retirement, ageing and financial security. But the story is becoming more complex. Recent decades have seen a slowdown in improvements. Covid-19 caused widespread disruption, and continuing healthcare pressures mean the future is less predictable. In this blog, we reflect on what’s happening to longevity – and what it means for pensions and insurance. By Ben...

September 12, 2025
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11Sep

UK. Life on a Low Pension – the growing problem of financial insecurity in retirement

The Living Wage Foundation’s Living Pension is an independently calculated savings target, based on the real cost of living, designed to provide an acceptable standard of living in retirement when combined with a full UK State Pension income. It is based on a yearly contribution of 12 per cent of all earnings to an employee’s pension pot, or £2,950 of savings in 2024/25, with at least 7 per cent coming from the employer. Over 80 per cent of workers with a Defined Contribution pension are...

September 11, 2025
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10Sep

DWP one-off payment for Brits receiving State Pension and other benefits this year

Nearly 24 million people across the UK are claiming at least one benefit from the Department for Work and Pensions (DWP), including 13 million pensioners receiving State Pension payments, 5.7 million on Universal Credit, and 3.7 million Personal Independence Payment (PIP) claimants. However, many people, such as those newly retired or those receiving disability benefits like the new devolved Pension Age Disability Payment or Adult/Child Disability Payment, might not be aware of an annual bonus paid to certain claimants before...

September 10, 2025
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08Sep

UK. Home Responsibilities Protection: Could you be owed thousands in backdated State Pension?

One Morning Live viewer has discovered she was owed more than £35,000 in unpaid State Pension after finding out that years she spent at home caring for her child had not been properly recorded. Her case highlights a wider problem linked to Home Responsibilities Protection (HRP), a scheme that ran between April 1978 and April 2010. HRP was designed to protect parents and carers who were unable to build up full National Insurance contributions because they were looking after children...

September 8, 2025
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05Sep

UK. Amendment Watch: What changes are being proposed to the Pension Schemes Bill?

On the first day back for MPs after the summer recess, the UK parliament’s website published more than 200 amendments to the Pension Schemes Bill ahead of the start of the committee scrutiny stage of its journey through parliament. By the middle of this week, this list had grown to more than 270. Industry representatives from trade bodies, pension providers, and other organisations this week gave evidence to the scrutinising committee on its various aspects, from surplus release to investment...

September 5, 2025
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