Pensions Expert

Pensions Expert is a dedicated publication based in the United Kingdom that focuses on the workplace pensions sector. It is produced by the Financial Times and has been in circulation since January 1997.

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MPs to scrutinise government plans for UK investment

4 days ago | pensions-expert.com | Nick Reeve

The Work and Pensions Committee will hear evidence from the industry this week around UK investment amid rumours of potential mandatory allocations. The parliamentary committee is in session on Wednesday 14 May to hear from two panels representing pension funds, insurance companies and the wider financial services industry.
Megafunds ball back in government’s court as LGPS pools approved

1 month ago | pensions-expert.com | Alex Janiaud

Six of the eight existing pools have had their plans to comply with the government’s “megafunds” objective approved. Representatives from Border to Coast Pension Partnership, LGPS Central, London CIV and Wales Pension Partnership have confirmed to Pensions Expert that they have received the green light to proceed with pooling their remaining assets by March next year.
Poor default offerings could 'undermine trust and widen generational gap'

1 month ago | pensions-expert.com | Pádraig Floyd

Bobby Riddaway, professional trustee and managing director at HS Trustees, has co-written an open letter with fellow trustee Natalie Waller warning that default strategies often ignore the wishes of savers and could undermine trust and widen an already sizeable “generational pensions gap”. While members cover every demographic group and hold very different priorities, they are rarely asked what they want their money to achieve, Riddaway and Waller said.
Government rejects pooling plans for ACCESS and Brunel

1 month ago | pensions-expert.com | Nick Reeve

The Department for Work and Pensions and the Ministry for Housing, Communities and Local Government have been meeting with each of the eight pools to discuss the responses to the government’s ‘Fit for the future’ consultation. In November, chancellor Rachel Reeves announced plans to merge local authority pension funds into a “handful of megafunds” to boost their capacity to invest in infrastructure and local assets.
Use dashboards preparation to cut admin costs, charities urged

1 month ago | pensions-expert.com | Nick Reeve

Spence & Partners’ latest report on DB pension schemes sponsored by charities found that the average funding level was 100% on an accounting basis. In addition, 44% of charities had stopped paying deficit recovery contributions, compared to 26% in Spence’s report last year, and many schemes have shrunk relative to their employer’s balance sheets.
FCA boss to prioritise growth and competitiveness in second five-year term

1 month ago | pensions-expert.com | Nick Reeve

In a letter published today (10 April), chancellor Rachel Reeves confirmed Rathi’s appointment for a second five-year term and urged him to “continue the work you have been leading to deliver a shift in mindset so that growth and competitiveness are at the core of your policy-making and approach to supervision and interacting with firms”.
GMP communication failing costs Volkswagen scheme £500

1 month ago | pensions-expert.com | Aamina Zafar

The Ombudsman awarded a member of the Volkswagen Group Pension Scheme, known as Mr N, £500 in compensation for a failure to keep them updated with the progress of GMP equalisation for the scheme. The Pensions Ombudsman stated that “failure to keep Mr N informed on progress, even if there was not a great deal to report, would have continued to cause him unnecessary distress and inconvenience”. It acknowledged that there was no prescribed deadline for pension schemes to complete GMP equalisation.
Building society locks in member benefits with £105m buy-in

1 month ago | pensions-expert.com | Nick Reeve

The deal covers all 705 scheme members of the Skipton Building Society (2015) Group Pension Scheme and was completed in January 2025. Mercer was the lead broker on the transaction, while Eversheds Sutherland provided legal advice to the trustee board. Steve Southern, chair of the trustee board and a professional trustee at Vidett, said: “This deal represents a great outcome for the Company and the Scheme members.
How artificial intelligence can help win the war against pension scams

1 month ago | pensions-expert.com | Nick Reeve

The two agencies have been using a machine learning algorithm and inputting real-world data to help predict websites that could be scamming people. So far, TPR and the Pension Scams Action Group (PSAG) say they have reviewed 830 websites, taken down 29 that were “high risk”, and made 94 referrals to other agencies such as City of London Police and the National Economic Crime Centre.
Study shows savers are shunning advice over pension freedoms

1 month ago | pensions-expert.com | Alex Janiaud

Pension freedoms were introduced a decade ago. But according to a YouGov survey of over 2,000 adults aged over 55 - commissioned by the Institute and Faculty of Actuaries (IFoA) - 43% of respondents took no advice or guidance when getting to grips with and accessing their pension savings. This figure has risen from 40% in 2022. The IFoA has published an updated study of public attitudes to pension freedoms.