National Wealth Fund pumps millions into battery storage developer August 27, 2025 The National Wealth Fund has joined forces with two investment firms as part of a £500m venture to enhance the UK’s battery storage facilities. The consortium – including infrastructure asset manager Equitix and Australian pension fund Aware Super – will “build, own and operate grid-scale battery storage assets” via an investment in developer Eelpower Energy. [...]
Thousands of savers overcharged on pension withdrawals by HMRC August 26, 2025 Thousands of people have claimed a refund on emergency tax on pensions after the HM Revenues & Customs (HMRC) overcharged savers an eye watering amount on their withdrawals. In total, 6,000 people successfully claimed a refund in the 2023-2024 financial year, a 20 per cent increase from the year before, according to figures obtained by [...]
Is scrapping the tax-free pension lump sum a good idea? August 21, 2025 The tax-free pension lump sum has its problems, but is limiting the allowance actually a good idea, asks Daniel Herring.
Week in Business: Will Reeves Launch a Massive Tax Raid on Property and Pensions? August 21, 2025 Christian May interrupts your holiday with grim news on another punishing round of tax hikes coming in the Autumn.
Tax-free pension lump sum could be slashed to fill Labour’s black hole August 21, 2025 Tax-free lump sum withdrawals from pension pots could be slashed as Rachel Reeves scrambles for fresh ways to plug a £50bn hole in the public finances. The Chancellor is reportedly eyeing a cut to the amount of money pensioners can withdraw from their savings pot without paying tax to as little as £40,000. That would [...]
Government urged to expand auto-enrolment to prevent pension poverty August 21, 2025 The UK’s auto-enrolment contribution scheme should be reformed to prevent more workers slipping into retirement poverty, the Society of Pension Professionals (SPP) has said. In its latest paper, the SPP has called on the Pension Commission, which was revived in July, to consider changing auto-enrolment rates and look at factors causing weak levels of pension saving. While [...]
Generation games: young people don’t see property as key to retirement August 20, 2025 Younger generations are taking a “more flexible approach” towards saving for retirement, amid concerns that traditional savings routes won’t be enough to rely on. The majority of younger generations see both pensions and property playing “key parts in their financial future”, according to the latest Standard Life retirement voice research, surveying 6,000 people. Over 50 [...]
PensionBee gathers momentum in the UK and US August 14, 2025 Retirement savings app Pensionbee maintained strong momentum in the first half of the year, expanding its UK reach while laying foundations for US growth. The London-listed fintech reported a revenue jump to £18.9m, up from £15.4m a year earlier. The firm improved its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) basis to £2.9m. [...]
Rolls-Royce offloads UK pension fund in £4.3bn deal with PIC August 10, 2025 Rolls-Royce has sealed a £4.3bn deal with insurance specialist Pension Insurance Corporation (PIC) to offload its UK pension scheme as the engineering giant presses ahead with simplifying its balance sheet. The deal, which was announced on Sunday, covers the remaining pension obligations of 36,000 members — including 15,000 current pensioners and 21,000 deferred members — [...]
Royal London profit rises after new business sales August 8, 2025 Royal London reported strong profit growth in the first half of the year after an increase in new business sales. The insurance company recorded a 15 per cent rise in pre-tax profit to £166m, compared to £144m in 2024, crediting its higher business sales and bulk purchase annuity buy ins. The group completed eight BPA [...]