August 2025
11Aug

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
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07Aug

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
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06Aug

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
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05Aug

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
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04Aug

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
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04Aug

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
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01Aug

Pensions Investment Review: Final Report

By HM Treasury, Department for Work and Pensions & Ministry of Housing Communities and Local Government The Final Report sets out the conclusions of the Pensions Investment Review, launched in July 2024.  Legislation to implement the reforms will form part of the forthcoming Pension Schemes Bill. The reforms will deliver a major consolidation in the Defined Contribution (DC) workplace pensions market. This will enable more investment in productive assets and greater potential returns for members of DC workplace schemes. A reserve power will also...

August 1, 2025
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01Aug

UK. One in five don’t know where all their pensions are: How to track them down

More than a fifth of people don't know where their pension pots are held, data shows - meaning they risk missing out on their own money in retirement. As many as 21 per cent say they don't know where all of their pensions are, according to figures from Hargreaves Lansdown, while a further 14 per cent said they were unsure. Just 65 per cent said they did know, rising to 72 per cent of people over the age of 55. Helen Morrissey,...

August 1, 2025
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July 2025
31Jul

UK. Over half a million still overtaxed by thousands on pensions

Millions is still being refunded to people by HMRC in overpaid pension tax, as experts call for reform to the system. New figures have revealed that more than half a million claims have now been made to claw back overpaid tax since 2015, with the total amount refunded approaching £1.5bn. In the latest quarter alone, 12,767 repayment claims were processed, amounting to £48.7m – an average refund of nearly £4,000 per person. This brings the total tax repaid so far this year to around...

July 31, 2025
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30Jul

UK. Relaunch of the Pensions Commission to encourage saving

On July 21, 2025, the Government announced the re-introduction of the Pensions Commission in a drive to boost pension saving. The relaunched Commission will explore the barriers that stop people from saving enough for retirement, with a final report due in 2027. The original Commission of 2006 was a “huge success”, enabling the roll-out of auto-enrolment, resulting in 88 per cent of eligible employees are now saving, up from 55 per cent in 2012. The revived Commission will: Consider the long-term future of...

July 30, 2025
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