May 2025
20May

UK. Impact Investing Principles for Pensions updated to reflect changing market environment

The Impact Investing Principles for Pensions have been updated to help UK pension fund trustees better align their investment decisions with long-term impact goals and fiduciary duties. Originally launched by the Impact Investing Institute and Pensions for Purpose in 2020, the principles have been revised to reflect five years of market experience and legal changes, including rising expectations from pension savers and evolving regulatory demands. The updated guidance, which also includes The Global Impact Investing Network’s "significant" contribution and endorsement, seeks...

May 20, 2025
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19May

UK. State pensioners must obey DWP holiday rule or face ‘being taken to court’

State pensioners are being warned to obey a little-known Department for Work and Pensions ( DWP ) rule if they're heading out on holiday this year. Pension Credit claimants may not realise they need to inform the DWP if they plan to holiday outside mainland UK for any duration this year. A question in the DWP FAQ online asks: "Can I leave Great Britain and keep getting Pension Credit?" The DWP states: "We may pay Pension Credit for up to 4 weeks while...

May 19, 2025
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16May

UK. Mandating large pension scheme investments could risk UK growth gains

Mandating how large pension schemes invest to support UK growth could risk undermining the benefits these schemes already deliver to the UK economy, WPI Economics has suggested. The research suggested that while the UK government is seeking to attract more investment, enforced allocation rules could fail to address broader barriers already identified, such as fiscal incentives, planning system bureaucracy, and the need for a “clear and consistent” industrial strategy. WPI Economics’ report found that large UK pension funds deliver “significant” economic...

May 16, 2025
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15May

One-in-four UK pension schemes consider reducing US exposure amid tariff uncertainty

A new pulse survey by WTW reveals that a segment of UK defined benefit (DB) pension schemes are actively reconsidering their US exposures, amid mounting trade policy uncertainty and investor concern about global volatility. Polling conducted at WTW’s recent client forum (8th May) showed that while the majority of schemes are maintaining current allocations, around a quarter are now considering pulling back from U.S. assets and dollar exposure. This includes 25% of schemes considering a reduction in U.S. asset holdings. Meanwhile, 34% of...

May 15, 2025
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14May

UK relieved as government backs off from forced economic growth investment

The UK pensions industry has welcomed the launch of the voluntary initiative to be known as the Mansion House Accord, which sets government investment ambitions for UK workplace pension providers. The government has previously toyed with the idea of mandating investments in private markets, which Mansion House Compact signatories warned could lead to unintended consequences. The new initiative calls for UK workplace pension providers to invest 10% of their default funds into private markets, with 5% of the total allocated to UK assets...

May 14, 2025
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13May

Pension funds ‘to unlock up to £50bn’ of investment, with half for UK firms

The bosses of 17 of the UK’s biggest pension funds have struck a deal with the government that it claims will release up to £50bn worth of investments, with at least half earmarked for British assets including clean energy projects and homegrown startups. Fund managers including Aviva, Legal & General, M&G, Phoenix and the Universities Superannuation Scheme have agreed to sign a new “Mansion House accord” that will lead to at least 10% of their workplace pension schemes being invested...

May 13, 2025
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12May

UK. Only half of mid-retirees confident they are on track to make their private pension last for life

New research by Aviva and Age UK has found only half (48%) are confident they are on track to make their private pension savings last for life[1]. Just over a quarter (26%) reported feeling financially secure, with women (19%) feeling less financially secure than men (32%). The research surveyed 1,000 mid-retirees aged 65-75 who have a private pension and are on a moderate retirement income, and do not pay for financial advice or have a final salary pension over £20k...

May 12, 2025
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09May

The DC Future Book 2024: in association with Columbia Threadneedle Investments

By Pensions Policy Institute This report is the tenth edition of the Pensions Policy Institute’s (PPI) The DC Future Book: in association with Columbia Threadneedle Investments, setting out available data on the Defined Contribution (DC) landscape alongside commentary, analysis and projections of future trends. Demographic and policy changes mean that, compared to previous generations of pensioners, current and future retirees will. These changes increase the risk borne by pension savers and the complexity of decisions they must make at, and during,...

May 9, 2025
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09May

The Purple Book 2024. DB pensions universe risk profile

By Pension Protection Fund The Purple Book, also known as the Pensions Universe Risk Profile, highlights trends in DB scheme funding, demographics and asset allocation. It provides us with an in-depth understanding of the risks we face from the universe of schemes we protect. The 19th edition of the Purple Book shows the strong net funding position of the universe of DB pension schemes has remained largely stable over the past year. For this year’s Purple Book, we’ve used an enhanced roll-forward...

May 9, 2025
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09May

UK. TPT preparing to launch first multi-employer CDC scheme

TPT Retirement Solutions is preparing the UK’s first multi-employer collective defined contribution (CDC) pension scheme, it announced today. It follows confirmation from pensions minister Torsten Bell that legislation to enable CDC schemes to operate will be laid before parliament later this year. Bell welcomed TPT’s announcement today, adding that CDC schemes were “set to be an important, innovative addition to the UK pensions’ landscape with the potential to improve the pension outcomes for millions of savers”. TPT first announced its interest in the CDC...

May 9, 2025
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