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Use the quick links below to find the information you need. You can log in to your myRPS account to ask for an estimate, use the pension planning tools, make a nomination, switch your investment funds, check your details, and more...

What’s going on in the pensions world?

Keep up to date with the latest pensions news and developments in the Scheme.

No major pension changes announced in the Spring Statement

Apr 1, 2025
Chancellor of the Exchequer, Rachel Reeves, delivered the Spring Statement on 26 March 2025. There were no major updates on pension policy or tax rules.

 

Many had expected updates on: 

  • Defined Benefit (DB) scheme surplus rules 

  • The next phase of the Pension Investment Review 

  • The State Pension underpayment review

These were not addressed. However, Reeves said the government is focused on growing the economy by reforming pensions, creating a National Wealth Fund, and cutting red tape. 

The pension ‘triple lock’ is a rule that increases the UK State Pension each year by the highest of either inflation, average earnings growth, or 2.5%. Some pensions industry commentators have warned that freezing the tax-free personal allowance until 2028 - announced in the Autumn Budget 2024 - may mean some people have to pay income tax on their State Pension. 

The Government is expected to publish the first draft of the Pension Schemes Bill soon. It aims to improve how pension schemes operate. 

To keep up to date with news about your pension, check the News page regularly.