UK Archives - Page 19 of 188 - Pension Policy International

18AugAugust 18, 2025

UK state pension age could rise to 70 amid triple lock concerns

State pension reform has returned to the centre of political discussion as the nation's growing financial burdens have prompted experts to forecast that a rise in the retirement age to 70 could arrive earlier than anticipated. Further demands have been made for Chancellor Rachel Reeves to reassess the triple lock policy. The state pension age currently stands at 66, scheduled to climb to 67 by 2028, with additional rises planned for subsequent decades. Financial advisers and think tanks are advocating...

August 18, 2025

NewsRetirement Age, State pension, UK

15AugAugust 15, 2025

UK hospital workers vote for historic NHS strike over pay inequality

Nearly 400 essential facilities staff at St Helier and Epsom hospitals in the UK have voted overwhelmingly to strike in a dispute over pay and conditions, delivering what their union has described as a “historic” ballot result. The United Voices of the World (UVW) members – most of whom are from migrant and minority ethnic backgrounds – recorded an 81% turnout, with 98% voting in favour of industrial action. They are employed directly by the National Health Service (NHS) but...

August 15, 2025

NewsIncome, UK

14AugAugust 14, 2025

UK. DWP insider explains why State Pension won’t be means tested

Pensions Minister Torsten Bell recently confirmed that the State Pension will not be means-tested in the future, following growing speculation on social media suggesting that the contributory benefit could be next in line for review by the Labour Government. Under the Triple Lock system, the New and Basic State Pensions increase each year in accordance with whichever is highest between average annual earnings growth from May to July, Consumer Price Index (CPI) inflation in the year to September or 2.5 per...

August 14, 2025

NewsState pension, UK

12AugAugust 12, 2025

UK. CDC could signal new era for pensions adequacy

ZEDRA has stated that, with the right approach from trustees, Collective Defined Contribution (CDC) pension schemes hold the potential to address long standing challenges around adequacy and sustainability in retirement provision, significantly improving member outcomes. Kim Nash, Managing Director of ZEDRA Governance said: “CDC is an exciting prospect, not just because of the potential for higher more stable member outcomes, but also because it shifts complex decision making to trustees, making retirement planning simpler for members. It challenges us to...

August 12, 2025

NewsCDC, UK

11AugAugust 11, 2025

Rolls-Royce offloads UK pension fund in £4.3bn deal with PIC

Rolls-Royce has sealed a £4.3bn deal with insurance specialist Pension Insurance Corporation (PIC) to offload its UK pension scheme as the engineering giant presses ahead with simplifying its balance sheet. The deal, which was announced on Sunday, covers the remaining pension obligations of 36,000 members — including 15,000 current pensioners and 21,000 deferred members — and marks the largest pension risk transfer in the UK this year. It comes as the Tufan Erginbilgic, chief executive of the FTSE 100 darling, moves to slim...

August 11, 2025

NewsOccupational Pension, PRT, UK

07AugAugust 7, 2025

UK. FCA Looks to Simplify Sustainability Reporting Requirements for Asset Managers, Insurers

The Financial Conduct Authority (FCA), the UK’s conduct regulator for financial services firms and financial markets, announced plans to streamline and improve its sustainability reporting framework for asset managers, life insurers and pension providers, including examining how to simplify disclosure requirements and ease regulatory burdens on firms. The announcement follows a review carried out by the FCA of the results of climate reporting rules put in place by the regulator in 2021, which required asset managers, life insurers and FCA-regulated pension...

August 7, 2025

NewsESG, Regulation, UK

06AugAugust 6, 2025

Pensions around the world: how does the UK compare to top scorers?

For a long time, UK governments have focused on British pensioners relying on occupational pensions for their retirement. The state has even had part of the state pension paid through occupational schemes – which happened when members of decent schemes such as the public service schemes were drawn into ‘contracting out’. This meant paying less National Insurance, with the ‘guaranteed minimum pension’ element of the state pension paid through your occupational scheme. People in different or no occupational schemes paid...

August 6, 2025

NewsState Pensions, UK

05AugAugust 5, 2025

UK. Workplace Pension Stats Show Case to Boost “Invisible Worker” Pensions : PensionBee

UK’s online pension provider PensionBee noted that the Department for Work and Pensions has this morning published annual statistics on workplace pension participation and savings trends: 2009 to 2024. PensionBee also mentioned that the statistics showed that rates of “participation in Auto Enrolment have remained stable in recent years, along with stopping savings levels and contribution levels.” Nine-in-ten eligible employees, “21.7 million people, are saving into a workplace scheme, according to the DWP, while eight-in-ten of all employees are saving into a scheme, or 23.3 million workers.” The freezing...

August 5, 2025

NewsInformal Sector, savings, UK

04AugAugust 4, 2025

UK. Over half of baby boomers not on track for retirement goals

Just over half (51 per cent) of UK baby boomers are on track to meet their retirement goals, with the rest expected to fall short of the income needed to maintain their current lifestyle or achieve a moderate standard of living in retirement, research from Vanguard has found. The Vanguard Retirement Outlook report revealed wide variation in retirement readiness across income groups and depending on the spending goals used. When assessing retirement preparedness relative to income, a U-shaped pattern emerged: both low- and...

August 4, 2025

Newssavings, UK

04AugAugust 4, 2025

UK. Want to retire in your 50s? Here’s how to plan for it

Retiring in your 50s can seem like a pipe dream, particularly with the high costs of living and restrictions on accessing your pension until the age of 55 – rising to 57 in 2028. However, with careful planning and consistent saving, you can increase your chances of an early escape from working life. Start by working out how much income you will need in retirement. According to the Pensions and Lifetime Savings Association, a single person now needs about £31,700 a...

August 4, 2025

NewsRerirement Planning, UK

August 2025