June 2025
06Jun

UK. FCA leads global crackdown on rogue finfluencers

The Financial Conduct Authority (FCA) has led a coordinated international crackdown on illegal financial promotions by unauthorised online influencers, known as “finfluencers”. Nine regulators from countries, including Australia, Canada, Hong Kong, Italy, the UAE and the UK, took part in a global enforcement effort that began on 2 June 2025. In the UK, the FCA made three arrests in collaboration with the City of London Police, initiated criminal proceedings against three individuals and invited four others for interview. It also sent seven...

June 6, 2025
News,
Read more...
05Jun

UK Government promises sweeping changes under the Pension Schemes Bill

The government today published the Pension Schemes Bill, setting out a raft of legislative changes it believes will bring about pension reform, the bill sets out the framework to consolidate pension schemes to create ‘megafunds’ of at least £25 billion to drive economies of scale and more pension scheme investment in UK plc, as set out under the government’s recent Pension Investment Review. Rachel Vahey, head of public policy at AJ Bell, comments: “With the publication of the Pension Schemes Bill, the government is...

June 5, 2025
News, ,
Read more...
04Jun

UK. Private sector providers essential to dashboards success, says ABI

Private sector dashboards must be facilitated “without delay”, according to the Association of British Insurers (ABI), to ensure savers can benefit from additional visibility and accessibility of their retirement savings. In a new report, the trade body has urged the government to support the launch of dashboards from private sector providers, including insurers. This would help reach more consumers and provide additional services beyond the current “view only” approach, it said. The government-backed MoneyHelper dashboard – run by the Money and Pensions...

June 4, 2025
News, ,
Read more...
03Jun

What The Chancellor’s ‘Megafunds’ Plan Means For UK Pensions

UK pension savers are already used to jargon but will have to add “megafunds,” “LTAFs” and “legislative backstop” to their lexicon following substantial changes made to the industry in recent weeks. The Labour government, less than a year in power, is keen to overhaul UK pensions with a view to improving returns for the £800 billion invested in UK defined-contribution schemes and create a virtuous circle where this investment boosts the ailing domestic economy. The UK is looking to Australian and...

June 3, 2025
News,
Read more...

May 2025
30May

Real estate welcomes renewed government commitment to pensions ‘megafunds’

The government has fleshed out its plans to double the number of "pension megafunds" alongside reforms expected to have a major impact on real estate and infrastructure investment in the UK. The government has published its Pensions Investment Review – Final Report and its response to the Options for Defined Benefit schemes consultation, setting out what will be addressed in legislation, in particular, the Pensions Scheme Bill due later this year. Announcing the publications the Treasury said reforms to be introduced through...

May 30, 2025
News,
Read more...
29May

UK. Reeves outlines plan for £25bn pension ‘megafunds’

The government has fleshed out its plans for reforming the UK pension industry, including the creation of £25bn "megafunds" which will be instructed to make a portion of their investments locally to help fuel economic growth. The chancellor said the overhaul, designed to follow the example of Australia and Canada's huge pension investment funds, would also boost people's pension pots. "These reforms mean better returns for workers and billions more invested in clean energy and high-growth businesses," Rachel Reeves said. Read also:...

May 29, 2025
News,
Read more...
28May

UK Government to make getting full State Pension simpler with specific changes

The Check Your State Pension forecast service aids those wishing to make voluntary National Insurance contributions to fill gaps in their National Insurance record, and Treasury Minister James Murray has confirmed that changes will enhance the service. In a written statement to Parliament, he recently detailed a series of new simplified measures and updated guidance for the self-employed, those paying the High Income Child Benefit Charge, and anyone who wishes to maximise their State Pension by purchasing voluntary National Insurance Contributions. "The government also intends to further...

May 28, 2025
News,
Read more...
23May

UK. DWP identifies over 12,000 state pension HRP underpayments

The Department for Work and Pensions (DWP) identified 12,379 underpayments between 8 January 2024 and 31 March 2025, totalling around £104m in arrears for those affected by Home Responsibilities Protection (HRP) State Pension underpayments. According to the update, the average arrears paid was £8,377 between 8 January 2024 and 31 March 2025. In the same period, HMRC sent 370,018 letters. It also processed 8,639 applications under the state pension age and 44,296 applications over the state pension age. In total, the DWP...

May 23, 2025
News,
Read more...
22May

UK. Starmer announces U-turn on winter fuel payment cuts

Sir Keir Starmer has announced plans to ease cuts to winter fuel payments, in a U-turn following mounting political pressure in recent weeks. More than 10 million pensioners lost out on the payments, worth up to £300, when the pension top-up became means-tested last year. Speaking at Prime Minister's Questions, Sir Keir said ministers would change the threshold to allow "more pensioners" to qualify again. But it remains unclear how many will regain their entitlement for the payments, or when the changes...

May 22, 2025
News, Slider,
Read more...
21May

UK. Pension surpluses ‘here to stay’; improved funding levels offer ‘huge’ opportunities

The estimated aggregate IAS19 surplus for the FTSE100's UK defined benefit (DB) pension schemes was £40bn as of year-end 2024, LCP's annual analysis has revealed, marking the fifth year in a row showing an overall surplus. Whilst this equates to an average surplus of over £600m for every FTSE100 company with a UK DB pension scheme, LCP clarified that the surpluses are unevenly distributed, with five companies accounting for half of the total. According to the analysis, the five companies with...

May 21, 2025
News, Slider,
Read more...