May 2025
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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08May

UK. Pension savers urged not to panic despite potential impact of volatility on DC savings

Defined contribution (DC) pension savers could see their potential retirement income fall by up to 20 per cent as a result of market volatility seen following the introduction of US tariffs, although those in defined benefit (DB) schemes are unlikely to be affected, research from the Society of Pension Professionals has revealed. The SPP acknowledged that, in the wake of US President, Donald Trump, announcing new import taxes on goods from almost every country, the economic turbulence felt across the...

May 8, 2025
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07May

UK. Govt urged to require UK investment in ‘quid pro quo’ for pension tax reliefs

The government should "embrace bold pension reforms", Baroness Ros Altmann has said, suggesting that the government should require at least 25 per cent of new pension contributions to be invested in Britain as a "quid pro quo" for tax reliefs. Altmann pointed out that the gross tax relief for UK pensions each year amount to over £70bn of taxpayer money, as individuals are able to take a quarter of all pension funds tax free, and no National Insurance is paid...

May 7, 2025
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06May

UK. State pension top-up payments ‘could take months’ to reach pensioners

Pensioners who have topped up their National Insurance records have been issued a warning as they could potentially face a months-long wait for their state pension increases. The surge in state pension top-ups has reportedly resulted in a six to eight-month delay in processing payments. This year marked the final deadline for topping up state pension payments through voluntary National Insurance contributions. Under existing rules, you require 35 qualifying years on your National Insurance record - some individuals may need more...

May 6, 2025
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02May

UK. Nearly nine million savers remain ‘significantly underpensioned’

Nearly nine million savers in the UK remain "significantly underpensioned" compared to the broader population, with research from Now Pensions revealing that private pension incomes for under-pensioned groups are around 43 per cent to 80 per cent of the population average. The report, produced in partnership with the Pensions Policy Institute (PPI), showed that while progress has been made in some areas, such as rising eligibility for auto enrolment, the underpensioned challenge is far from resolved. Indeed, the report showed that...

May 2, 2025
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