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The PPF Purple Book: Six key charts for the corporate DB sector
The 20th edition of the Pension Protection Fund’s Purple Book shows a gradual but consistent decline in the number of defined benefit (DB) pension schemes. But below the surface, the sector remains dynamic with millions of people’s retirements at stake.
Stagecoach transfers DB scheme to Aberdeen in innovative run-on deal
Stagecoach has agreed an innovative deal with financial services giant Aberdeen to transfer the bus company’s £1.2bn defined benefit pension scheme into a ‘run on’ arrangement.
Fiduciary duty to get legislative overhaul to boost UK allocations [updated]
Torsten Bell has indicated that the government will legislate to bring fiduciary duty onto a firm statutory base, in a move that could negate the need for the Pension Schemes Bill’s controversial mandation power.
Pension Schemes Bill: Highlights from the third reading in parliament
Pensions Expert selects key topics, quotes and themes from the third reading of the Pension Schemes Bill, which took place yesterday (3 December) in parliament.
Communication, communication, communication: Industry sets out priorities for CDC success
Respondents to the government’s consultation have emphasised the need for retirement-only CDC to be clearly communicated to members and closely aligned with the Pension Schemes Bill’s ‘guided retirement’ rules.
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Comment
Securing our future: Climate risk and the Pension Schemes Bill
Liberal Democrat MP Manuela Perteghella explains why her party is lobbying to include climate-related investment restrictions in the Pension Schemes Bill, as MPs debate the legislation in its third reading.
AMNT: ‘Does anyone know the way? There’s got to be a way’
John Flynn of the Association of Member-Nominated Trustees channels a 1973 glam rock hit to ask what can be done about pre-Budget speculation.
Pensions UK: Budget silver linings for pension schemes
Pensions UK’s Dirk Paterson looks for some positive takes on last week’s Budget announcements relating to investment, indexation, and taxation.
Pre-Budget chaos, post-Budget damage
As the dust settles following Wednesday’s Budget speech, Darren Philp scrutinises the ‘kite flying’ approach to testing policy ideas and calls for a more honest and transparent approach to future fiscal events.
Latest features
The PPF Purple Book: Six key charts for the corporate DB sector
The 20th edition of the Pension Protection Fund’s Purple Book shows a gradual but consistent decline in the number of defined benefit (DB) pension schemes. But below the surface, the sector remains dynamic with millions of people’s retirements at stake.
In Depth: The last-ditch campaign to save salary sacrifice
The pensions industry has rallied in a last-ditch attempt to dissuade the government from changing salary sacrifice rules, just days ahead of the Budget.
In Depth: Insurers come through stress test with flying colours
Leading bulk annuity providers have been given a clean bill of health from the Bank of England following a major stress test of their balance sheets. Pensions Expert takes a look at what the results mean for schemes exploring a buy-in or buyout.
One year until the dashboards deadline: What’s still to do?
There is less than 12 months to go until the 31 October 2026 deadline, when all pension schemes and providers in scope must connect to the pensions dashboards Central Digital Architecture.
In Depth: Exploring the £1.2trn defined contribution landscape
The latest edition of the Pensions Policy Institute’s DC Future Book shows a maturing landscape for defined contribution provision, amid profound policy shifts.
The PPF Purple Book: Six key charts for the corporate DB sector
In Depth: The last-ditch campaign to save salary sacrifice
In Depth: Insurers come through stress test with flying colours
One year until the dashboards deadline: What’s still to do?
In Depth: Exploring the £1.2trn defined contribution landscape
People news
Appointments: Standard Life names new boss for pensions business
The latest hires, promotions and appointments for the week ending 28 November 2025.
Appointments: Interim CEO for PIC; BW names head of sole trusteeship
The latest hires, promotions and appointments for the week ending 21 November 2025.
Government begins search for new PPF chair
The Department for Work and Pensions is seeking a new chair for the board of the Pension Protection Fund, with current chair Kate Jones due to step down next year.
Appointments: LPPI grows infrastructure team
The latest hires, promotions and appointments for the week ending 7 November 2025.
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Latest on Defined Contribution
Communication, communication, communication: Industry sets out priorities for CDC success
Respondents to the government’s consultation have emphasised the need for retirement-only CDC to be clearly communicated to members and closely aligned with the Pension Schemes Bill’s ‘guided retirement’ rules.
Pensions and IHT: Rule tweak welcomed but industry warns on complexity
Personal representatives will be able to direct pension administrators to withhold 50% of taxable death benefits in order to pay inheritance tax, according to a note in the Budget speech.
People’s Pension reduces government bond exposure over volatility concerns
The £35bn master trust said the changes were intended to “deliver better long-term outcomes” for older savers while continuing to manage drawdown risk.
Career breaks push one in three women into pension poverty
Scottish Widows reported that, by age 55, one in four women will have been out of work for more than five years, which could result in a £70,000 hit at retirement.
Latest on Defined Benefit
The PPF Purple Book: Six key charts for the corporate DB sector
The 20th edition of the Pension Protection Fund’s Purple Book shows a gradual but consistent decline in the number of defined benefit (DB) pension schemes. But below the surface, the sector remains dynamic with millions of people’s retirements at stake.
Stagecoach transfers DB scheme to Aberdeen in innovative run-on deal
Stagecoach has agreed an innovative deal with financial services giant Aberdeen to transfer the bus company’s £1.2bn defined benefit pension scheme into a ‘run on’ arrangement.
How the PPF will pay inflation-linked compensation to FAS members
The PPF expects to begin paying inflation-linked compensation to members with pre-97 benefits from January 2027, subject to the progress of the Pension Schemes Bill.
Budget round-up: Leaks, sacrifices, and unexpected changes
Pensions Expert gathers all the essential pensions reading from chancellor Rachel Reeves’ 2025 Budget speech in one place, from salary sacrifice to surplus release, and pre-1997 indexation to the financial market reaction.
Latest on Dashboards
TPR urges action to support millions of people ‘under-saving’ for retirement
Speaking at the Pensions Expert Annual Conference on 26 November, TPR’s Nausicaa Delfas said the UK’s pensions system was “unfinished business”, with approximately 14.6 million people under-saving for retirement.
One year until the dashboards deadline: What’s still to do?
There is less than 12 months to go until the 31 October 2026 deadline, when all pension schemes and providers in scope must connect to the pensions dashboards Central Digital Architecture.
TPR hires for crucial admin and dashboards role
Taylor Brightwell-Smith joined the regulator this week from the Government Actuary’s Department to oversee TPR’s work on administration, pensions dashboards, and cybersecurity.
BT Pension Scheme connects to dashboard system as PDP hails 75% coverage
The UK’s biggest corporate defined benefit pension scheme has connected its 250,000 members to the pensions dashboards ecosystem, with just under a year to go until the government’s statutory connection deadline.
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