November 2025
13Nov

UK retirement confidence falls to lowest level yet

Retirement confidence in the UK has dropped to its lowest level since tracking began, according to new research from Nucleus. The third annual Nucleus UK Retirement Confidence Index finds that only one in four adults (26%) are confident they will have enough money to live comfortably for the rest of their lives, down from 34% last year. The overall confidence score has fallen to 4.2 out of 10, compared with 4.6 in 2024 and 6.9 in 2023. The report, based on YouGov...

November 13, 2025
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12Nov

UK. Government to rethink rejection of Waspi compensation

A decision to reject compensation for women hit by changes to the state pension age will be reconsidered by the government. Campaigners say 3.6 million women born in the 1950s were not properly informed of the rise in state pension age to bring them into line with men. Last year, the government apologised for a 28-month delay in sending letters, but rejected any kind of financial payouts. A document was not shown to Liz Kendall, who was Work and Pensions Secretary...

November 12, 2025
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11Nov

UK. Chancellor looking to cap salary sacrifice contributions to £2,000 in Autumn budget

The chancellor is planning to use the budget to limit the amount of someone’s salary that can be sacrificed through pension contributions without incurring national insurance (NI) payments to £2,000 a year. Reports in The Times and Financial Times this weekend said the chancellor would target pension salary sacrifice arrangements to raise up to £2bn a year and help fill a £30bn gap in public finances. At present there is no limit on the amount that an employee can put into their pension under salary...

November 11, 2025
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07Nov

Retirement reality: Managing money in mid-retirement

By Aviva People in their mid-70s overwhelmingly report that they want the security of an income for life, yet very few are confident that their savings will last. Many underestimate how long they need to budget for and tend not to engage with ongoing planning as they age. Modelling shows the risks of remaining in drawdown and the benefits of Flex First, Fix Later solutions that include later-life annuitisation as a way of addressing these challenges. Such an approach would...

November 7, 2025
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07Nov

UK. DB Funding Code offers trustees ‘opportunity to rethink investment governance’

The updated Defined Benefit (DB) Funding Code gives trustees a valuable opportunity to rethink their investment governance and focus more strategically on their scheme’s long-term objectives, Russell Investments fiduciary manager and client CIO, Aqib Merchant, has said. Speaking at the Association of Member Nominated Trustees (AMNT) Annual Conference, Merchant said the new regime should prompt trustee boards to reassess how their time and resources are allocated as they move towards endgame. “Endgame objectives and the DB Funding Code go hand in...

November 7, 2025
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06Nov

UK savers pulling cash from pensions ahead of budget, money managers say

 British money managers are reporting a jump in people withdrawing cash from their pensions before this month's budget, amid fears for their tax advantages as the government warns it needs to make "hard choices" to prop up public finances. Most British savers can receive up to 25% of their pension as a tax-free lump sum. Some experts on fiscal policy have speculated that Rachel Reeves, the finance minister, might reduce the amount that can be withdrawn tax-free, a potential motive for savers to withdraw...

November 6, 2025
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05Nov

UK. Almost two thirds of mid-retirees have not had essential conversations about finances

Research by Aviva, a leading pension provider, and Age UK, the UK’s expert voice on ageing, has found that mid-retirees are navigating retirement without the financial support or guidance they may need as they get older. The report by Aviva and Age UK (published May 2025), Retirement Reality: Managing Money in Mid-Retirement, highlights the challenges faced by mid-retirees navigating the retirement landscape. The research surveyed 1,000 mid-retirees (aged 65-75) who have a private pension, are on a moderate retirement...

November 5, 2025
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03Nov

UK. Nigel Farage refuses to commit to the triple lock on pensions

Nigel Farage has suggested that the minimum wage may be “too high” for younger workers, as he laid out Reform’s vision for the UK economy. The Reform leader, speaking in the City of London on Monday morning, also revealed he was abandoning plans for tax cuts that were a central part of the party’s previous manifesto – and refused to commit to the triple lock on pensions. Asked whether he thought the minimum wage was too high, Mr Farage said: “There’s...

November 3, 2025
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October 2025
30Oct

UK. Reeves urged to cut pension lump sum withdrawals to £100k

A pressure group of which Rachel Reeves is a member has urged her to cut the tax-free pension lump sum to £100,000. At present, most savers can take 25pc of their pension pot tax-free once they reach the age of 55, up to a maximum of £268,275. However, the Fabian Society, a prominent Labour-associated think tank, has suggested cutting the allowance by two-thirds at the Budget on Nov 26 in an attempt to raise £2bn. It claimed that pensions were “systemically” under-taxed and...

October 30, 2025
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29Oct

Pensions UK calls for triple lock review amid rising state pension cost

Pensions UK has proposed replacing the triple lock with a more sustainable uprating mechanism once the state pension reaches a “clear adequacy benchmark”, ensuring it provides minimum income standards for a decent retirement. In its response to the government’s third state pension age (SPA) review, the trade body acknowledged the triple lock’s role in protecting pensioners’ incomes in real terms - particularly given ongoing concerns about the adequacy of retirement outcomes from defined contribution (DC) schemes. However, Pensions UK pointed to Office...

October 29, 2025
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