National Audit Office launches review into Capita’s handling of civil service pension scheme Politics Capita has said the public spending watchdog has launched a review into its administration of the Civil Service Pension Scheme, after admitting its performance “remains below” the standards expected. The National Audit Office (NAO) has launched a further formal review into the London-listed outsourcer’s handling of the scheme, building on the watchdog’s initial June 2025 [...]
Economists warn of tax hikes after Burnham admits social care funding ‘shortfall’ Politics Andy Burnham has admitted there may be a “shortfall” in his ambitious plans to fund a new national care service, as economists warn that taxes will have to rise. Burnham announced plans to adjust the triple lock from 2030, effectively creating a double lock, using the savings to fund the new service. The new mechanism [...]
End of triple lock: What is the double lock and will it work? Politics Andy Burnham has pledged to drop the triple lock on state pensions for a so-called ‘double lock’ in Labour’s next manifesto in order to pay for his new National Care Service. In an address to party members, Burnham confirmed the existing triple lock mechanism will remain in place for the remainder of this parliament before [...]
Why is Burnham set to turn against the triple lock? September 29, 2026 The controversial pension triple lock is reportedly set to face the axe as Andy Burnham looks to rewire the UK’s pension landscape to fund his plans. In his maiden conference speech as prime minister on Tuesday, Burnham is expected to signal the death of the triple lock after 16 years, bringing an end to pensioner’s [...]
Burnham set to signal end of triple lock in conference speech September 29, 2026 Andy Burnham is set to signal the end of the triple lock on pensions in his maiden conference speech as Prime Minister, in a move that is likely to divide the Labour party. In his maiden conference speech as Labour leader, Burnham will suggest the policy is not sustainable in its current form and should [...]
Stamp out pension tax speculation or risk another cash grab, industry warns Healey September 24, 2026 The pension industry has warned Healey not to allow pension tax speculation to go “unchecked” in the run up to his maiden Autumn Budget, after rumours led savers to pull millions from pension pots last year. UK savers pulled £91bn from their pension pots before last year’s Autumn Budget as they looked to dodge Labour’s [...]
Healey urged to ‘restore faith’ by ending personal allowance freeze in Budget September 16, 2026 UK savers are demanding chancellor John Healey end the freeze on the personal allowance in his maiden Autumn Budget, as more Brits get dragged into higher tax bands. A recent poll showed nearly 70 per cent of taxpayers want Healey to unfreeze the personal allowance, with critics arguing it has forced workers and pensioners into [...]
Unleash growth or you’ll have to hike taxes even higher, FTSE 100 boss warns Healey September 8, 2026 The government must unleash growth in the forthcoming Budget or ministers will be forced to hike taxes even higher at future fiscal events, the boss of the largest player in the UK pensions market has warned. Andy Briggs, the chief executive of Standard Life, told City AM the UK’s ageing population leaves the Chancellor John [...]
Standard Life takes £473m hit after stock market rally dents hedges September 7, 2026 Standard Life swung to a loss in the first half of the year after the market moved against positions the firm had taken to shield itself against volatility. The FTSE 100 pensions giant posted an overall loss of £179m for the first six months of the year, driven by £473m in paper losses on financial [...]
‘Reckless’ pensions advice: Watchdog slaps ex-Quilter rep with huge fine September 3, 2026 The City watchdog has banned a former Quilter adviser from working in finance, accusing him of “recklessly betraying his responsibilities” by offering pensions advice he wasn’t qualified to give. The Financial Conduct Authority (FCA) has given Daniel Thomas – whose DPT Financial Solutions was an approved representative of FTSE 250 wealth manager Quilter – a [...]