Pensions news
145 stories on pensions, newest first. Every story is dated and cites its sources.
- November 2026
Guided Retirement consultation launched by DWP, FCA and TPR
The Department for Work and Pensions, the Financial Conduct Authority and the Pensions Regulator have opened a consultation on Guided Retirement, which would require pension schemes to offer a default pension to savers approaching retirement.
Warning issued that UK households could be missing out on substantial sums from forgotten pension pots
The Pensions Policy Institute says more than three million UK pension pots remain lost, worth £6k on average, while Birmingham Live reports a warning that lost funds average over £6,220.
- October 2026
Government announces removal of two-year rule on lump sum death benefits at Budget 26
The government will remove the two-year rule on tax-free pension and lump sum death benefits for payments made on or after 28 October 2026, through Finance Bill 2026-27.
Budget to introduce new tax allowance for low-income pensioners
Chancellor John Healey is expected to announce a new Pension Tax Allowance in his first Budget so that pensioners whose income is at or below the full new state pension pay no income tax.
DWP confirms next groups facing state pension age rise to 67
The Department for Work and Pensions has confirmed the monthly timetable for raising state pension age to 67, covering people born from November 1960 to April 1977, with the phased increases finishing in 2028.
Money Box reports £18.7bn in 3mn lost pension pots
Research by the Pensions Policy Institute puts £18.7bn in an estimated 3mn lost pension pots, worth an average of just over £6,000 each, BBC Radio 4's Money Box reported on 24 October 2026.
Over 128,000 remedial pension savings statements issued to NHS staff under McCloud remedy
More than 128,000 remedial pension savings statements have been sent to NHS staff under the McCloud remedy, with 48,725 flagged as possibly needing tax action and only 18,577 HMRC submissions received by late September.
Full state pension to rise by £9.40 a week to around £250.70 from April 2027 under the triple lock
The full new State Pension will rise by £9.40 a week to around £250.70 from April 2027, after average earnings growth of 3.9 per cent set the triple lock increase.
Carers UK analysis finds 26,000 unpaid carers £7,011 a year worse off from state pension age rise
Carers UK analysis estimates that about 26,000 unpaid carers will spend an extra year on working-age benefits as the State Pension age rises to 67, losing £7,011 a year each.
PPI research estimates more than three million lost UK pension pots averaging around £6,000
The Pensions Policy Institute estimates more than three million UK pension pots worth around £6,000 each are lost, with 2.5 million of them held by people aged under 55.
PensionBee research finds 11 per cent of AI chatbot pension answers potentially harmful
PensionBee research found 11 per cent of answers given by four AI chatbots to common pension questions were potentially harmful, and it has urged regulators to require clearer warnings.
- September 2026
MPs launch inquiry into auto-enrolment contributions for low earners
The Work and Pensions Committee has opened an inquiry into whether minimum auto-enrolment contributions should rise and how any increase in cost should be divided between employers and employees.
- July 2026
TPR publishes new five-year Corporate Strategy, Corporate Plan and Regulatory Roadmap
The Pensions Regulator has published a five-year Corporate Strategy, a Corporate Plan for 2026-27 and a Regulatory Roadmap setting out when reform consultations, regulation and guidance will reach the workplace pensions industry.
- June 2026
FCA data shows 29% rise in pensions fully withdrawn since 2018-19
Financial Conduct Authority data shows just over 462,000 pensions were withdrawn in full in 2024-25, a 29% rise on the 357,122 fully withdrawn in 2018-19.
DWP opens consultation on amending pension transfer scam protections
The Department for Work and Pensions has opened a consultation on amending the 2021 pension transfer scam rules, proposing a new red flag for transfers into Small Self-Administered Schemes.
PPI publishes report on megafund pension reforms with international insights
The Pensions Policy Institute has published a report on the UK megafund pension reforms, drawing on international evidence and interviews with UK and Australian pension stakeholders.
- May 2026
State Pension age increase from 66 to 67 begins
The State Pension age began rising from 66 to 67 on 6 May 2026, with the increase phased in over two years and affecting people born between April 1960 and April 1977.
The Pensions Ombudsman publishes Corporate Plan for 2026/27 backed by new three-year DWP funding settlement
The Pensions Ombudsman has published its Corporate Plan for 2026/27, backed by a three-year funding settlement that allows a 20% expansion of its frontline casework teams.
Second Pensions Commission publishes interim report on pension sustainability
The Second Pensions Commission's interim report on pension sustainability has prompted a parliamentary inquiry into whether minimum auto-enrolment contributions should rise and how any increase is shared.
- April 2026
Pension interests brought into inheritance tax from 6 April 2027
Pension pots and other pension death benefits will form part of a person's estate for inheritance tax purposes for deaths on or after 6 April 2027, under the Finance Act 2026.
State Pension age begins rising from 66 to 67
The State Pension age is rising from 66 to 67 on a phased basis between April 2026 and March 2028, with the exact date set by date of birth.
- March 2026
TPR publishes 2025 DC landscape report showing master trusts dominate the DC market
The Pensions Regulator's 2025 defined contribution landscape report shows scheme numbers fell 15% to 790 while assets rose 22% to £249 billion, with master trusts holding 92% of memberships.
Treasury makes the Pensions Increase (Review) Order 2026
The Treasury made the Pensions Increase (Review) Order 2026 on 9 March 2026, setting a 3.8 per cent rise in public service pensions in payment from 6 April 2026.
Social Security Benefits Up-rating Order 2026 made
The Social Security Benefits Up-rating Order 2026, made on 2 March 2026, raises state pensions and benefits and sets new statutory pay rates, with most changes taking effect in April 2026.
- January 2026
Joint proposals published for pension value for money framework
The FCA, DWP and TPR have published joint proposals requiring pension schemes to publish performance, cost and service quality data under a colour rating, with comment open until 8 March.
- December 2025
Capita due to take over administration of the Civil Service Pension Scheme
Capita began administering the Civil Service Pension Scheme in December 2025 under a contract awarded in 2023, and a backlog of 120,000 cases has left some members waiting for payments.
Virgin Money investments and pension business sold to Octopus Money
Virgin Money's investments and pension business was sold to Octopus Money on 1 December 2025, a sale separate from the transfer of Virgin Money's banking business to Nationwide.
- November 2025
Autumn Budget 2025 announces NICs measures
The Autumn Budget on 26 November 2025 extended the freeze on most National Insurance limits to 2031, capped salary sacrifice relief from 2029 and removed Class 2 voluntary contributions from abroad.
Salary sacrifice pension contributions above £2,000 to face National Insurance from April 2029
The government will cap the amount of salary sacrifice pension contributions exempt from National Insurance at £2,000 a year from April 2029, under changes announced at Autumn Budget 2025.
Work and Pensions Committee launches inquiry on pre-pension income gap support
The Work and Pensions Committee has opened an inquiry into support for people below State Pension age, as the pension age rises from 66 to 67 from April, with evidence due by 19 December 2025.