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Latest news and analysis
Budget 2026: What will John Healey pull out of the red box?
As the chancellor prepares to give his first Budget speech, Pensions Expert explores the key themes for the retirement sector.
Royal Mail transfers £2.5bn DC fund to Legal & General Mastertrust
The arrangement involves almost 100,000 members and is the biggest single transfer to a master trust yet completed in the UK’s defined contribution market.
FCA warns private market firms over conflicts of interest
The Financial Conduct Authority has identified weaknesses in how private market firms manage conflicts of interest, warning that controls are failing to keep pace with increasingly complex business models.
Budget 2026: State pension plans could create unfair ‘cliff edge’, experts warn
Proposals to shield pensioners who rely solely on the state pension from income tax could penalise those with modest private savings and create an increasingly expensive system, pensions experts have warned.
Pension tax rules could discourage older workers, Smart Pension warns
Almost a third of adults identify pension or tax rules as a barrier to working later in life, raising questions about whether the system supports flexible retirement, according to Smart Pension research.
Appointments: PPF names chief actuary; GLIL adds to investment committee
The latest hires, promotions and appointments for the week ending 23 October 2026.
Trustees must monitor AI risks building in investment portfolios, says TPR
The Pensions Regulator has published new guidance to assist trustees with identifying and managing “potential hidden AI-related investment exposure”.
PPF confirms no conventional levy for third straight year
The lifeboat fund has confirmed a third year of no conventional levy, while also announcing adjustments to valuation methods and a pause on the alternative levy that will apply to superfunds.
Latest podcast
Always A Pensions Angle: Budget 2026 Preview Special
Co-hosts Nick Reeve and Tom Parker celebrate their podcast’s first birthday by looking ahead to this week’s much-anticipated Budget speech from chancellor John Healey.
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People’s Pension: What kind of institution are we building?
Dan Mikulskis, chief investment officer at People’s Pension, explores key qualities of successful large asset owners from the master trust’s own research, as UK institutions continue to seek scale and greater investment capabilities.
Railpen: The role of DB in boosting pension adequacy
With pension adequacy at the forefront of industry reforms, Railpen’s Jonathan Clark urges policymakers not to forget the vital role played by open defined benefit pension schemes for millions of people across the UK.
Building blocks: How tokenisation could reshape DC pensions
Louise Farrand, executive director of the DC Investment Forum, explores how blockchain and tokenisation technologies could revolutionise pension scheme investing.
ABI: Surplus extraction - lessons from insurers
As DB schemes gain greater flexibility to extract surplus, the ABI’s Robyn Smith argues that lessons from insurance regulation could help ensure greater freedom is matched by robust safeguards for members.
Latest features
Budget 2026: What will John Healey pull out of the red box?
As the chancellor prepares to give his first Budget speech, Pensions Expert explores the key themes for the retirement sector.
Torsten Bell on why the triple lock has to change
Despite shadow pensions minister Helen Whately warning that the prime minister will “live to regret” changes to the triple lock, Torsten Bell is adamant that change is necessary to balance sustainability and trust in the pension system.
In Depth: How trustees can manage AI risks in their schemes
The Pensions Regulator has set out six core principles for AI governance ahead of detailed guidance to be published later this year. Nick Reeve explores what these are and what they mean for governance processes.
Members still need a ‘human in the loop’ amid AI surge
Pension scheme members should be sceptical when using AI
VfM: What the industry said about the government’s Value for Money plans
From concerns over forward-looking metrics to calls for the framework to be expanded into decumulation, there has been a huge amount of feedback on the latest Value for Money consultation. Pensions Expert distils the main talking points.
Budget 2026: What will John Healey pull out of the red box?
Torsten Bell on why the triple lock has to change
In Depth: How trustees can manage AI risks in their schemes
Members still need a ‘human in the loop’ amid AI surge
VfM: What the industry said about the government’s Value for Money plans
Latest on Defined Benefit
PPF confirms no conventional levy for third straight year
The lifeboat fund has confirmed a third year of no conventional levy, while also announcing adjustments to valuation methods and a pause on the alternative levy that will apply to superfunds.
Finance chiefs divided over how to use DB pension scheme surpluses
Key corporate decision-makers are split over how to prioritise the use of defined benefit pension scheme surpluses, according to new research by Independent Governance Group.
Bulk annuities latest: Interface, Biffa and FirstGroup secure buy-ins
A trio of bulk annuity transactions have been publicised in recent days, securing the benefits of 4,700 members in deals totalling £450m.
Regulator gives green light to TPT to launch superfund
TPT has secured investment capital to back between £1bn and £1.5bn worth of transactions, and said it was already in discussions with “a growing number of schemes”.
People news
Appointments: PPF names chief actuary; GLIL adds to investment committee
The latest hires, promotions and appointments for the week ending 23 October 2026.
Appointments: Royal Mail pension boss to depart; Festina hires Procentia CEO
The latest hires, promotions and appointments for the week ending 16 October 2026.
Appointments: featuring senior appointments and promotions at Hymans Robertson, WTW, Aptia and more
The latest hires, promotions and appointments for the week ending 9 October 2026.
Appointments: Industry stalwarts join Aviva and L&G IGCs; Zedra Inside Pensions hires three new trustee executives
The latest hires, promotions and appointments for the week ending 2 October 2026.
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Latest on Defined Contribution
Royal Mail transfers £2.5bn DC fund to Legal & General Mastertrust
The arrangement involves almost 100,000 members and is the biggest single transfer to a master trust yet completed in the UK’s defined contribution market.
Pension tax rules could discourage older workers, Smart Pension warns
Almost a third of adults identify pension or tax rules as a barrier to working later in life, raising questions about whether the system supports flexible retirement, according to Smart Pension research.
Mansion House: DC providers make progress with UK holdings hitting £11bn
The 17 signatories to the Mansion House Accord have allocated 6.6% of total DC growth-phase assets to private markets as of 31 December 2025, according to new data.
'More reform needed' to increase UK pension system sustainability
The UK has slipped two places in an international ranking of pension systems, with researchers calling for higher retirement savings and wider auto-enrolment coverage to improve long-term sustainability.
Latest on Dashboards
Why administrators are causing sleepless nights for DB trustees
Third-party vulnerability is among the biggest cyber risks facing DB pension schemes, according to a professional trustee survey
Digital services increasingly important to retirees, Aptia reports
As Pension Awareness Week begins, new research from Aptia shows more and more people are relying on their pension provider’s digital services to make key decisions about their retirement.
‘Life moments’ are key engagement points for employers, says WTW
Trustees and scheme managers expect members to use dashboards primarily around retirement and job changes rather than checking them regularly, according to the consultancy giant.
Bell says dashboard ‘has improved data quality’ as launch confirmed for 2027
The DWP has confirmed that 85% of schemes have connected to the dashboard ecosystem, with all in-scope schemes expected to meet the 31 October statutory connection deadline.
