Pensions news
134 stories on pensions, newest first. Every story is dated and cites its sources.
- September 2026
MPs launch inquiry into auto-enrolment contributions for low earners
The Work and Pensions Committee has opened an inquiry into whether minimum auto-enrolment contributions should rise and how any increase in cost should be divided between employers and employees.
- July 2026
TPR publishes new five-year Corporate Strategy, Corporate Plan and Regulatory Roadmap
The Pensions Regulator has published a five-year Corporate Strategy, a Corporate Plan for 2026-27 and a Regulatory Roadmap setting out when reform consultations, regulation and guidance will reach the workplace pensions industry.
- June 2026
FCA data shows 29% rise in pensions fully withdrawn since 2018-19
Financial Conduct Authority data shows just over 462,000 pensions were withdrawn in full in 2024-25, a 29% rise on the 357,122 fully withdrawn in 2018-19.
DWP opens consultation on amending pension transfer scam protections
The Department for Work and Pensions has opened a consultation on amending the 2021 pension transfer scam rules, proposing a new red flag for transfers into Small Self-Administered Schemes.
PPI publishes report on megafund pension reforms with international insights
The Pensions Policy Institute has published a report on the UK megafund pension reforms, drawing on international evidence and interviews with UK and Australian pension stakeholders.
- May 2026
State Pension age increase from 66 to 67 begins
The State Pension age began rising from 66 to 67 on 6 May 2026, with the increase phased in over two years and affecting people born between April 1960 and April 1977.
The Pensions Ombudsman publishes Corporate Plan for 2026/27 backed by new three-year DWP funding settlement
The Pensions Ombudsman has published its Corporate Plan for 2026/27, backed by a three-year funding settlement that allows a 20% expansion of its frontline casework teams.
Second Pensions Commission publishes interim report on pension sustainability
The Second Pensions Commission's interim report on pension sustainability has prompted a parliamentary inquiry into whether minimum auto-enrolment contributions should rise and how any increase is shared.
- April 2026
Pension interests brought into inheritance tax from 6 April 2027
Pension pots and other pension death benefits will form part of a person's estate for inheritance tax purposes for deaths on or after 6 April 2027, under the Finance Act 2026.
State Pension age begins rising from 66 to 67
The State Pension age is rising from 66 to 67 on a phased basis between April 2026 and March 2028, with the exact date set by date of birth.
- March 2026
TPR publishes 2025 DC landscape report showing master trusts dominate the DC market
The Pensions Regulator's 2025 defined contribution landscape report shows scheme numbers fell 15% to 790 while assets rose 22% to £249 billion, with master trusts holding 92% of memberships.
Treasury makes the Pensions Increase (Review) Order 2026
The Treasury made the Pensions Increase (Review) Order 2026 on 9 March 2026, setting a 3.8 per cent rise in public service pensions in payment from 6 April 2026.
Social Security Benefits Up-rating Order 2026 made
The Social Security Benefits Up-rating Order 2026, made on 2 March 2026, raises state pensions and benefits and sets new statutory pay rates, with most changes taking effect in April 2026.
- January 2026
Joint proposals published for pension value for money framework
The FCA, DWP and TPR have published joint proposals requiring pension schemes to publish performance, cost and service quality data under a colour rating, with comment open until 8 March.
- December 2025
Capita due to take over administration of the Civil Service Pension Scheme
Capita began administering the Civil Service Pension Scheme in December 2025 under a contract awarded in 2023, and a backlog of 120,000 cases has left some members waiting for payments.
Virgin Money investments and pension business sold to Octopus Money
Virgin Money's investments and pension business was sold to Octopus Money on 1 December 2025, a sale separate from the transfer of Virgin Money's banking business to Nationwide.
- November 2025
Autumn Budget 2025 announces NICs measures
The Autumn Budget on 26 November 2025 extended the freeze on most National Insurance limits to 2031, capped salary sacrifice relief from 2029 and removed Class 2 voluntary contributions from abroad.
Salary sacrifice pension contributions above £2,000 to face National Insurance from April 2029
The government will cap the amount of salary sacrifice pension contributions exempt from National Insurance at £2,000 a year from April 2029, under changes announced at Autumn Budget 2025.
Work and Pensions Committee launches inquiry on pre-pension income gap support
The Work and Pensions Committee has opened an inquiry into support for people below State Pension age, as the pension age rises from 66 to 67 from April, with evidence due by 19 December 2025.
Salary sacrifice pension contributions NICs exemption capped from April 2029
The Government Actuary has set out the effect of the November 2025 Budget measure that caps the National Insurance exemption for salary sacrifice pension contributions at £2,000 a year from April 2029.
- October 2025
Scottish Government submits evidence to independent State Pension age review
The Scottish Government has sent evidence to the independent State Pension age review, citing lower life expectancy in Scotland, pensioner poverty, demographic change and unpaid compensation for 1950s-born women.
Share of pension pots accessed with advice falls to lowest level in six years
FCA retirement income data shows only 31% of the 962,000 pension plans first accessed in 2024-25 were taken after regulated advice, the sixth consecutive annual fall.
- September 2025
Industry alert on unauthorised access to pension scheme members' accounts
The Pension Scams Action Group has issued an industry alert warning trustees and administrators about unauthorised access to pension scheme members' accounts through hacking and impersonation.
- July 2025
MPs call for national strategy to tackle pensioner poverty
The Work and Pensions Committee has called for a UK-wide cross-government strategy on ageing, a Pension Credit take-up strategy for England by the end of 2025 and a Government-set minimum retirement income.
Government abandons PSA-led model for Inheritance Tax on pensions
The government has dropped plans to make pension scheme administrators responsible for reporting and paying Inheritance Tax on unused pension funds, keeping that duty with personal representatives from April 2027.
Government publishes consultation outcome confirming personal representatives liable for IHT on pensions from April 2027
The government has confirmed that personal representatives, not pension scheme administrators, will report and pay inheritance tax on unused pension funds and death benefits from 6 April 2027.
Government relaunches the Pensions Commission
The Government has relaunched the Pensions Commission to examine how future pension savings could be boosted, as MPs separately call for a national strategy on pensioner poverty.
- June 2025
Pension Schemes Bill 2024-25 introduced in Parliament
The Pension Schemes Bill 2024-25 was introduced in Parliament on 5 June 2025, with 12 policies covering local government funds, defined benefit and defined contribution schemes, and the Pensions Ombudsman.
- May 2025
Pensions Investment Review Final Report published with consultation responses
The Pensions Investment Review's Final Report sets out reforms to defined contribution workplace pensions and the Local Government Pension Scheme in England and Wales, with legislation planned in a forthcoming Pension Schemes Bill.
Pensions Investment Review final report published
The government published the final report of its Pensions Investment Review on 27 May 2025, setting out reforms to be taken forward in the Pension Schemes Bill 2024-25.