The UK economy is estimated to have contracted in July, according to the latest gross domestic product (GDP) data from the Office for National Statistics (ONS).

Half of UK pension schemes now have a professional trustee, while a third have a sole trustee, according to consultancy LCP.

The aggregate surplus of the 5,131 schemes in the PPF 7800 Index fell from £446.1bn to £441.1bn during August.

The Pension Protection Fund (PPF) said it had been able to reduce the levy from an original estimate of £200m to £100m in the financial year 2024/25, but industry watchers are urging for a change in the law to allow the amount to reflect improved scheme funding.

As the Office for National Statistics prepares to release its estimate for average earnings growth, the IFS issues a warning about the cost of the triple lock to taxpayers.

TPT Investment Management (TPTIM) will offer fiduciary management services as part of a new defined benefits (DB) offering that allows trustees to access TPT’s pensions and investment expertise while retaining the trusteeship of their scheme.

The number of over 50s returning to the workplace has risen over the last 12 months, but is still below pre-pandemic levels.

The agreement marks the largest outsourced chief investment officer (OCIO) mandate awarded to date in the UK market.

The gender gap for new retirees taking the state pension has almost closed, but a new frontier in the battle against inequality is opening, according to LCP research.

The government has confirmed this year’s Autumn Statement will take place on 22 November, and has pledged to halve inflation by the end of the year.