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Latest news and analysis
BBC strikes £6bn longevity swap deal to extend scheme insurance
The broadcaster’s defined benefit pension scheme has secured a longevity swap transaction with MetLife and Zurich, five years after its first such deal was completed.
British Business Bank confirms pension investors in £200m first fund
The £3.7bn NatWest Cushon master trust is among the confirmed backers of British Growth Partnership Fund I, targeting investment in high-growth UK companies, the British Business Bank has announced.
Bulk annuities update: Just announces trio of sub-£50m buy-ins
Insurance company Just Group has announced three buy-ins this week, totalling approximately £80m in premiums paid.
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.
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.
Smart acquires Waystone’s £580m master trust in ‘first of wave’
Smart Pension has acquired the WS Stakeholder Pension Scheme, the first time it has taken on a contract-based defined contribution scheme.
SPP warns against blanket law change on pre-1997 indexation
The Society of Pension Professionals has urged the government not to impose a universal requirement for DB schemes to grant inflation increases on pre-1997 pensions.
PPF consults on zero levy as industry awaits Pension Schemes Bill
The lifeboat fund has set out plans to charge a zero levy for the 2026-27 financial year, with fallback options if the Pension Schemes Bill has not passed into law in time to facilitate the zero charge.
Private Assets in Focus: Report Published
CACEIS, in association with Pensions Expert, surveyed pensions professionals in the DB space about their experiences investing in private markets. Click here to read the full report.
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Comment
IFoA: Why the state pension age review needs nuance and flexibility
Iain McLellan, deputy chair of the Pensions Board of the Institute and Faculty of Actuaries, looks at the profession’s response to the recent call for evidence as part of the state pension age review.
ShareAction: What pension funds must do at COP30 and beyond
Laure Philippon of campaign group ShareAction calls for pension schemes to use their clout to make sure the discussions from COP30 become meaningful action on climate change.
Superfunds stepping into the spotlight through Pension Schemes Bill
The Society of Pension Professionals’ David Potts looks into the proposed superfund legislation contained within the Pension Schemes Bill and key considerations for employers, providers, and policymakers.
Low incomes, different lives: The unequal reality of low earners
The PPI’s John Upton explains that low earners cannot be treated as one homogenous group, as the Pensions Commission and others seek to improve retirement savings adequacy.
Latest features
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.
Pension funds, venture capital, and the government’s drive for growth
Despite a big push from the government to encourage greater pension investment into UK alternatives, there seems to be little initial activity from pension funds in relation to venture capital investing.
In Depth: The battle for pre-1997 indexation [updated]
Pensions Expert explores the debates around pre-97 indexation and how the Pension Protection Fund could use its reserves to support affected pensioners – if the government allows it.
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
Pension funds, venture capital, and the government’s drive for growth
In Depth: The battle for pre-1997 indexation [updated]
People news
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.
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.
Isio appoints former Vidett co-CEO as part of boost to senior team
The hires of Naomi L’Estrange and Gareth Roberts to senior positions highlight the company’s growth ambitions following last year’s strategic investment by private equity firm Aquiline.
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Latest on Defined Contribution
Smart acquires Waystone’s £580m master trust in ‘first of wave’
Smart Pension has acquired the WS Stakeholder Pension Scheme, the first time it has taken on a contract-based defined contribution scheme.
PMI launches partnership initiative to boost training and development
Three administration providers have signed up as founding members of the PMI’s Development Partnerships programme, after a regulatory report flagged recruitment and retention issues in the sector.
Salary sacrifice changes ‘could put millions of retirements at risk’
The Association of British Insurers has added its voice to opponents of potential changes to salary sacrifice rules, ahead of the Budget speech later this month.
Business leaders call for DC defaults to be forced to buy UK
More than 250 UK company bosses have co-signed a letter to chancellor Rachel Reeves calling for UK defined contribution (DC) default funds to be forced to allocate 25% of all asset classes to the UK.
Latest on Defined Benefit
BBC strikes £6bn longevity swap deal to extend scheme insurance
The broadcaster’s defined benefit pension scheme has secured a longevity swap transaction with MetLife and Zurich, five years after its first such deal was completed.
Bulk annuities update: Just announces trio of sub-£50m buy-ins
Insurance company Just Group has announced three buy-ins this week, totalling approximately £80m in premiums paid.
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.
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.
Latest on Dashboards
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.
Pensions dashboard to be tested on ‘non-pensions’ people for first time
Launched this month, the first “low volume” testing phase for the dashboards will involve “non-pensions specialists” and will pave the way for higher-volume work next year.
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