
M&G completes £265m BPA with CF Fertilisers’ Pension Schemes
The deal covers the pension benefits of over 1,350 retirees and deferred members.

The deal covers the pension benefits of over 1,350 retirees and deferred members.

Burke brings more than 25 years of banking and lending experience, spanning credit risk analytics, compliance and regulatory responsiveness.

Lower-income retired households are receiving significantly less in cash benefits than their better-off counterparts, according to analysis from retirement specialist Just Group.

Reeves said these reforms are designed to create fairer opportunities for young people, safeguard pensioners’ incomes, and ensure businesses operate on a level playing field.

Steven Cameron, Pensions Director at Aegon, said the decision represents a significant increase in the overall tax burden, despite no rise in headline rates.

She told MPs: “I will transfer the Investment Reserve Fund of the British Coal Staff Superannuation Scheme to its members.”

Reeves said: “I will index for inflation on pensions accrued before 1997 in the PPF and the FAS, so that people are not left worse off by inflation.”

Announcing the policy from the despatch box, she said: “Taxpayers’ money should not be spent on pensions for people abroad."

The Government estimates that these changes will raise £0.9bn a year on average from 2027-28 onwards.

Details from the leaked OBR forecast has sset out plans to end National Insurance (NI) exemptions on the majority of salary-sacrificed pension contributions from April 2029.

Byrne will join in January 2026 and take responsibility for leading the next stage of growth.

Among 100 trustees managing schemes with assets of £100m or more, a third (33%) said market volatility was their biggest challenge.
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