PPI publishes report on megafund pension reforms with international insights

The Pensions Policy Institute (PPI) published a report on the UK megafund pension reforms on Tuesday 2 June 2026¹. The report, sponsored by SEI and now:pensions (part of Mercer), examines the strengths and limitations of the megafund approach and considers how international experience might inform the UK's introduction of those reforms¹.

The PPI said the report uses international evidence alongside data from interviews with stakeholders from the UK and Australian pension systems¹. It sets out to explore three areas: evidence on the strengths and limitations of the megafund approach; whether and how relevant international experience could inform the UK approach to the introduction of megafund reforms; and the risks, potential benefits and challenges of the UK megafund reforms¹.

The report was published on the PPI's research library on 2 June 2026, with an accompanying press page and an event write up also listed¹. The PPI describes itself as independent¹.

The sources do not give the size of any megafund, the number of schemes affected, the date any reform takes effect, or the PPI's findings and conclusions. Those details have not been reported in the material available.

Why it matters for households

Megafund reforms concern how workplace pension schemes are structured and how the savings of members are pooled and invested. The PPI report looks at what international experience, particularly from Australia, might mean for the UK's approach, and at the risks and potential benefits of the changes¹. Because the report's findings are not set out in the sources, the practical effect on any individual's pension pot, charges or retirement income cannot be stated here.

Anyone wanting to understand how their own workplace or personal pension is affected can read our guide to pensions and the wider pensions hub. For those considering moving a pension, our page on transfer risks explains the issues involved, and Pension Wise provides free guidance on pension options.

What happens next

The PPI has published the report and lists an accompanying press page and event write up¹. No further dates, consultations or implementation timetables are given in the sources.