Labour ministers urged to be clearer on small pension pot plans April 29, 2025 The UK government needs to be more coherent and take extra care with pension schemes before it consolidates small pension pots, a leading industry group has warned. The Department for Work and Pensions (DWP) last week unveiled plans to ease costs by automatically combining small pots holding less than £1,000 into one scheme. Individuals will [...]
Fear over Labour plans to allow firms to extract cash from pension schemes April 3, 2025 The vast majority of pension scheme members are “afraid” of government plans that would allow firms to take cash from defined benefit (DB) schemes for investment. Prime Minister Keir Starmer and Chancellor Rachel Reeves signalled earlier this year that “trapped surplus funds” in DB pension schemes would be unleashed for firms to invest. But a [...]
How to maximise your pension before the end of the tax year April 2, 2025 As the end of the tax year approaches on April 5, savers have a few days to maximise their pension contributions tax allowance. Private pension contributions are tax-free up to a limit, under a regime that applies to workplace pensions, personal pensions (such as SIPPs) and overseas pension schemes that qualify for UK tax relief. [...]
PensionBee: Losses slashed as US expansion helps revenue surge March 13, 2025 PensionBee has hailed a “transformative year” for the listed business as it slashed its pre-tax loss and grew its revenue by almost £10m as it expanded into the US. The company has posted a pre-tax loss of £3.1m for 2024, down from the £10.5m loss it reported for 2023. New figures filed with the London [...]
Nearly half of pension savers are missing out on upto £800k March 4, 2025 Analysis shows that over 2.3m high-income savers are unwittingly missing out on over £1bn of tax relief on pension contributions. More than half (56 per cent) of workers in higher or additional rate tax bands have a personal pension, according to research from ETF investing platform InvestEngine. However, 46 per cent (2.3m people) of that [...]
How have women’s pensions fared over the last 100 years? March 4, 2025 This year marks 115 years of International Women's Day, but how have women's pensions changed in that time?
Three ways to restore confidence in UK public markets March 3, 2025 To reignite confidence in our public markets, we need domestic reforms that increase liquidity, foster investor confidence, and provide more avenues for capital flow, says Alastair King As Lord Mayor I have the privilege of traveling the world promoting London as a global financial powerhouse. Liberalised trade opens doors for stronger partnerships, smoother business, and [...]
Public service reform is pro-business, pensions minister argues February 20, 2025 Reforming Britain’s public services is a pro-growth and pro-business policy, the pensions minister has argued. Torsten Bell, who was appointed in the mini-reshuffle following City minister Tulip Siddiq’s departure from government, has said it’s not possible to have a “failing state and a growing economy”, in an interview with the Guardian. The former Resolution Foundation [...]
UK savers back AI on pensions, but ‘not as a substitute for humans’ February 12, 2025 UK savers are open to artificial intelligence (AI) playing a key role in pension customer support. But, most would rather have a combination of AI and human interaction, rather than a fully automated system. A recent survey by pension scheme provider PensionBee found that of its 1,000 participants, 79 per cent favoured a hybrid approach. [...]
IFS: UK must intervene to stop ‘ridiculous’ proliferation of small pension pots February 12, 2025 The government should clamp down on the “ridiculous” proliferation of small pension pots, a leading think tank has said. The growing number of these small-scale funds puts up costs for pension providers and makes it more difficult for savers to make sensible decisions, the Institute for Fiscal Studies (IFS) argued. “Further action is needed to [...]