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Employers spend more than 62 hours a year on pension admin, Penfold finds
Employers were spending an average of more than five hours each month managing pension tasks.
Workplace Pensions
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Royal London reports 13% rise in workplace pension new business sales
There were nine bulk purchase annuity (BPA) transactions completed, with £457m in premiums.
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Aviva expands access to Tembo mortgage support for workplace pension customers
Aviva said it is part of a commitment to support financial wellbeing, as many employees balance financial priorities and retirement savings.
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Nine in 10 eligible employees saved into workplace pensions in 2025, DWP finds
This was a rise of 0.6 million savers and a 1% increase compared to 2024.
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Nearly half of workers lack confidence in their pension, Penfold finds
Only 29% of workers trusted their pension provider most to explain how their pension works.
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Employer pension contributions rise as gender gaps narrow, IFS finds
Average employer contributions for all private sector employees, including those not saving in a workplace pension, reached 5.1% in 2024.
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Giving pension providers clarity should be the priority for new PM, says Penfold CEO
Chris Eastwood said: “The priority should be maintaining momentum while ensuring that changes lead to better value, simpler experiences and stronger outcomes for savers."
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DWP sets out phased roadmap for workplace pension reforms
DWP said the reforms will help more people retire comfortably and ensure the pensions system works better for everyone.
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ABI calls on Pensions Commission to raise auto-enrolment pension contributions to 12%
The ABI noted the increase would boost a median earner’s pension pot by 50% by the time they retire.
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74% of employees are enrolled in a workplace pension, Barclays finds
57% rated their understanding of personal finance as strong, but 44% had not taken steps to improve their knowledge in the past year.
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Penfold and Perkbox partner to offer digital workplace pensions
The partnership will give employers a simple way to explore and offer a modern workplace pension as part of their wider benefits package.
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Half of workers willing to pay more into pensions if employers contribute more, study finds
The Scottish Widows study showed that if minimum contribution rates went up in future, 34% of workers would put in 6-8% of their salary and 20% would pay 8-10%.