Laurie Olphin, Author at iPensions Group

The UK’s Self-Invested Personal Pension (SIPP) sector is facing a significant shift.

Proposed changes to inheritance tax (IHT) rules could see unused pension funds included in estates from April 2027—potentially subjecting them to IHT for the first time.

While these changes are not yet law, the implications are serious enough that advisers and pension scheme members should begin preparing now.

A Sector on the Rise

SIPPs have become a cornerstone of UK retirement planning, with over £567 billion in assets under management and around 5.3 million customers. Growth in the sector has been robust, driven by flexibility and control over investments.

But that success could be tempered by the proposed IHT changes. According to government estimates, in the 2027/28 tax year alone:

10,500 estates could become newly liable for IHT due to unused pension funds.
38,500 estates may face higher IHT bills.
Over three years, the changes could generate £3.44 billion in additional IHT receipts.

Double Taxation Risk

Under current rules, unused pension funds can be passed on tax-free if the scheme member dies before age 75. After 75, beneficiaries pay income tax on withdrawals.

The proposed changes would add IHT to the mix—meaning some pension pots could be taxed twice: once as income and again as part of the estate on death.

This is particularly concerning for clients with illiquid assets such as commercial property. Around £9 billion of SIPP assets are invested in property and other non-liquid holdings.

Many individuals have used SIPPs to purchase business premises, which could be difficult to sell quickly to cover IHT liabilities.

HMRC has indicated it will consider asset liquidity when collaborating with personal representatives or family, potentially offering payment plans. But the burden of settling IHT before distributing estate assets remains.

Time to Rethink Strategy

Clients who planned to leave their SIPPs to family or friends may need to reassess their investment strategies. Long-term growth may no longer be the most tax-efficient approach.

Some may consider drawing income at lower tax rates and gifting or spending it to reduce estate value. However, if the income is retained, it could still be subject to IHT negating the benefit.

Importantly, this is not just a concern for the wealthy. A person saving £10,000 annually into a SIPP over 20–30 years could easily accumulate a pension pot large enough to trigger IHT when combined with other assets.

An Opportunity for Advisers

For financial advisers, the proposed changes present both a challenge and an opportunity. Clients will need expert guidance to navigate the new landscape, and advisers who offer technical insight and initiative-taking service will be in high demand.

Providers must also step up, offering tools and projections to help clients understand the potential impact on their retirement plans. Digital modelling and clear communication will be key.

Failure to inform clients could even lead to complaints if unexpected tax bills arise. The message is clear: advisers and providers must act now—not wait until the rules take effect.

Conclusion

The proposed IHT changes are a wake-up call for the pensions industry. While they present real challenges, they also offer a chance for advisers to demonstrate value, deepen client relationships, and guide individuals through complex financial decisions.

In a sector built on long-term planning, now is the time to think ahead.

Disclaimer

The content of this article is for general information purposes only and should not be construed as legal, financial or taxation advice. You should not rely on the information contained in this article as legal, financial or taxation advice. The content of this article is based on information currently available to us, and the current laws in force in the UK. The content does not take account of individual circumstances and may not reflect recent changes in the law since the date it was created. It is essential that detailed financial and tax advice should be sought (as well as legal advice where required) in both the UK and any jurisdiction where you are resident.

iPensions Group Limited is authorised and regulated by the Financial Conduct Authority, Licence Number 464521.

For the pensions sector, Talk Money Week is an invaluable moment to listen, learn, and lead. The campaign’s annual themes, the data it generates, and the behavioural insights it brings all help shape how providers engage members and support financial confidence for the long term.

Every year, Talk Money Week adopts a central theme such as “Do One Thing” or “Start the Conversation” to inspire action across homes, workplaces and communities. The consistency of these themes helps to normalise conversations about money, break down stigma and encourage people to take small but meaningful steps. Over time, this steady repetition of purpose has fostered a more open culture around finances, with a growing emphasis on financial wellbeing, resilience, and inclusion. The campaign has also broadened its reach, promoting financial education for younger generations and encouraging intergenerational dialogue about money. Schools, community organisations and employers are increasingly active participants, turning what was once a niche initiative into a truly national movement.

Behind the campaign’s positive energy lies a rich stream of data. Each year, Talk Money Week gathers valuable insights into how people think, feel, and act when it comes to money. For pension providers, these findings offer clear signals about where engagement can be strengthened and where barriers still exist. 45% of adults in the UK don’t feel confident in managing their money day to day and many likely to avoid thinking about money due to related anxieties, it’s no wonder such a large number of people don’t feel equipped to tackle their money worries head-on. Behavioural data consistently shows that small, practical actions can have a surprisingly large impact on member confidence and long-term outcomes. These simple steps help to reduce inertia, one of the biggest challenges in pensions engagement. The increasing involvement of employers, charities, and pension providers demonstrates a growing appetite across the sector to help people feel more in control of their financial futures. However, data often reveals persistent gaps in confidence and knowledge, particularly among younger savers or lower-income groups which underscores the need for targeted communication and education.

The influence of Talk Money Week extends far beyond the campaign itself. By encouraging open conversations and focusing on positive financial actions, it helps foster trust, engagement, and better decision-making – all key pillars for a healthy pensions system. Over the years, the cumulative effect of these annual campaigns has started to shape a cultural shift in how people view financial literacy and responsibility. It encourages pension providers to refine their tools, digital interfaces, and communications, ensuring that support for members feels continuous and intuitive rather than reactive.

The spirit of Talk Money Week: transparency, education, and empowerment reflects the values that guide our work. As the conversation around money becomes more transparent and data-driven, we remain committed to delivering transparent, compliant solutions for our advisers to aid their clients in the best possible way.

Disclaimer

iPensions Group Limited is authorised and regulated by the Financial Conduct Authority, Licence Number 464521.

Each November, Talk Money Week brings into focus the importance of open conversations about money. In 2025, the campaign runs from 3–7 November, under the theme “Start the conversation”, encouraging organisations and individuals across the UK to break down the barriers that often make money a taboo subject.

At its core, Talk Money Week is not about complex financial solutions—but about encouraging simple, honest dialogue. From family dinners to workplace huddles, its purpose is to help people feel more comfortable raising questions, sharing concerns, and exploring options, whether the topic is day-to-day budgeting, debt, savings or pensions.

Pensions, by their nature, are long-term and often distant, so they tend to sit quietly in the background of people’s minds. Many will only revisit them when a life event or a financial shock demands attention. Talk Money Week aims to shift that dynamic, turning pensions into a regular part of financial conversation instead of a looming puzzle.

For advisers, it represents a unique opportunity to engage. During this week, clients may be more primed to ask questions, examine their assumptions, or bring up topics they’ve been hesitant to explore. It’s a moment when financial professionals can step in, not as salespeople, but as guides who help demystify what can otherwise feel opaque.

Money conversations don’t have to be polished or perfect; they just need to start somewhere. That flexibility is vital: some clients may begin with small questions (e.g. “What are my retirement goals?”), while others may use the moment to reconsider pensions they’ve long neglected.

What Advisers Can Do During Talk Money Week

Open the door: Invite clients (and potential clients) to bring their pension statements or questions to a brief review session.
Share prompts: Use simple questions “Have you checked your pension lately?” or “Do you know where all of your pension pots are?” to lower the activation barrier.
Provide clarity: Rather than diving into product comparisons, help clients understand the basics: how their pension is doing, whether to consolidate, or whether their contributions align with retirement goals.
Promote continuity: Use the week as a launchpad. Follow up, nudge clients later in the year, and integrate “check-ins” as part of your ongoing service.
Leverage community: Tie into broader Talk Money Week resources: fact sheets, event toolkits, or social media campaigns to amplify reach and credibility.

While the spirit of Talk Money Week is inclusive and low-key, there are potential risks to be aware of. Some clients may approach the conversation with anxiety or fear, worrying that their pensions are underperforming or mismanaged. It’s important to manage expectations and avoid triggering rash reactions.

Also, the week can create momentum, but momentum doesn’t always last. A spike in interest without follow-through may lead to client disappointment or unfulfilled expectations if advisers don’t convert curiosity into continuity.

Talk Money Week 2025 is more than a campaign; it’s a cultural nudge that invites financial topics into everyday life. For the pensions industry and advisers in particular it presents a chance to replace silence with curiosity, confusion with dialogue, and inertia with momentum.

In the context of long-term saving, these conversations matter. Even if the initial question is small, they can trigger deeper engagement, better-informed decisions, and a stronger adviser-client relationship. By showing up during Talk Money Week, not with products, but with listening, clarity, and support, advisers can help make pensions a normal, sustainable part of people’s financial lives.

Disclaimer

iPensions Group Limited is authorised and regulated by the Financial Conduct Authority, Licence Number 464521.

What Is the Pension Attention 2025 Campaign?

The Pension Attention campaign—launched this year under the theme “Strengthen Your Pension”—is an industry-wide initiative led by the Association of British Insurers (ABI) and Pensions UK.

Running from 5 September to 27 October 2025, the campaign uses a fitness-inspired approach to make pensions more relatable. Television presenter Ross Kemp and pension coach Bola Sol front this year’s campaign, encouraging savers to treat pensions like a workout routine: consistent, manageable, and rewarding over time.

The campaign focuses on three simple actions:

Stretch your mind back – check for any old or lost pension pots.
Check your form – log in to see how much you’ve saved so far.
Work out – use calculators or online tools to estimate what you might need in retirement.

These steps are supported by resources such as the government’s Pension Tracing Service and MoneyHelper calculators, along with guides from individual providers.

Why iPensions Group Supports It

We recognise the value of cross-industry campaigns that make pensions feel accessible and actionable. Pension Attention 2025 brings clarity for savers by focusing on three straightforward steps that cut through complexity and encourage small but meaningful actions. The campaign also raises visibility by using high-profile figures and simple, memorable themes to bring pensions into everyday conversation, reaching audiences who may not otherwise engage with the subject. With the backing of a wide range of organisations, the message is also delivered consistently across the sector, ensuring individuals are reminded of the importance of reviewing their pension wherever they interact with it.

Will It Make a Difference?

There are many reasons to be optimistic about the impact of Pension Attention 2025. Its use of a fitness metaphor makes pensions easy to understand and keeps the subject fresh and approachable, while the supporting campaign materials point savers directly to practical tools such as tracing services and planning calculators. Evidence from past Pension Attention campaigns has also shown promising results, with strong recall among participants and many reporting that they had taken positive steps, such as logging in to view their pension or discussing it with family members.

However, there remain questions about whether this momentum will be sustained. Awareness campaigns can prompt an initial flurry of activity, but encouraging individuals to return to their pensions regularly is a longer-term challenge. Similarly, while checking a balance is an important first step, it does not always translate into further planning or decisive action. Another consideration is whether the campaign will resonate equally across different groups, as certain messages may connect more strongly with particular age ranges or levels of pension awareness.

Final Thoughts

Pension Attention 2025 offers a clear, approachable way to encourage individuals to look at their retirement savings through the lens of everyday habits. With its fitness theme, recognisable faces, and straightforward steps provide a helpful reminder that small actions today can contribute to long-term financial wellbeing.

Whether the campaign leads to more meaningful, lasting pension habits will depend on how individuals respond beyond the initial check-in. For both clients and advisers, though, the campaign serves as a useful conversation starter—and another opportunity to bring pensions into focus.

Disclaimer

iPensions Group Limited is authorised and regulated by the Financial Conduct Authority, Licence Number 464521.

The gender pensions gap is one of the most persistent inequalities in the UK financial landscape—and it’s not closing fast enough. While we’ve seen progress in areas like auto-enrolment and workplace pensions, recent data paints a troubling picture: women not only retire with significantly less pension wealth than men, but also feel far less confident about managing it.

For financial advisers, this represents both a challenge and an opportunity.

Confidence in retirement planning is not equally shared. Research shows that just 33% of women feel confident about investing, compared to more than half (54%) of men.

Another survey revealed that only 12% of women feel “very confident” their pension contributions will sustain them through retirement—compared with 21% of men. Almost half of women (48%) admitted to feeling not confident at all.

Meanwhile, 69% of women say they have limited understanding of pensions and investments, versus 43% of men—a disparity linked to lower levels of financial education, particularly among older women.

The wealth gap behind the numbers

The Department for Work and Pensions (DWP) reports that women aged 55–59 hold median private pension wealth of £81,000, compared with £156,000 for men—a 48% gap. To estimate an illustrative income, an annuity rate for a 60-year old of around 7% has been used to convert the pension pot into an annual income. This would be around £6,000 per year for women (over £100 a week) and around £11,000 for men (over £200 a week), a gap of around £5,000 per year.

MoneyWeek highlighted that 73% of savers plan to rely on a partner’s pension, but with such disparities in pension pots, this reliance risks leaving women particularly vulnerable in the event of a sudden death or relationship breakdown.

Meanwhile, a different study has found that the contributions gap is narrowing in some age groups, but worryingly, it has widened for women aged 30–45 by around 3%. By the time women reach 60, their average pension pots are still 43% smaller than those of men.

Advisers are uniquely placed to change the narrative. The figures show women often:

Take more career breaks.
Work part-time, falling below contribution thresholds.
Feel less confident about investing.
But each of these barriers can be addressed through:
Proactive engagement with younger women.
Bridging gaps during career breaks.
Boosting financial confidence through education.
Partnered planning that stresses financial independence.

But each of these barriers can be addressed through:

Proactive engagement with younger women.
Bridging gaps during career breaks.
Boosting financial confidence through education.
Partnered planning that stresses financial independence.

At iPensions Group, we believe that modern pension provision must evolve to reflect today’s diverse working lives. Advisers are central to this mission. By combining education, engagement, and empathy, advisers can help ensure that women don’t just save for retirement, but do so with clarity, confidence, and control.

Disclaimer

iPensions Group Limited is authorised and regulated by the Financial Conduct Authority, Licence Number 464521.

Millennials and Gen Z are often called the “missing link” in pensions engagement. Many advisers find these demographics hard to reach—focused more on today than retirement decades away.

However, the numbers tell a more hopeful story. A recent study shows that 33% of Gen Z investors start investing before adulthood, and 64% review their portfolios monthly. Younger generations aren’t disengaged—they’re just digitally native and values-driven.

That means traditional pension communications may fall flat. Jargon-heavy PDFs and static statements won’t cut through. Instead, advisers need to reframe retirement as an accessible, personal, and ethical long-term goal.

Start with digital-first tools:

Meet them where they are on apps & social

– Mobile-first dashboards, gamified saving trackers, and scenario tools are key
– Consider partnering with “finfluencers”—but keep advice regulated and risk disclosures front and centre

Behavioural science in practice

– Use simple, actionable default options
– Trigger nudges aligned with life events (promotion, buying house, having children)
– Visual tools showing progress toward goals improve stickiness

Content that resonates with these generations

– Short, snackable explainers
– Infographics to visually spell out content
– Webinars/Q&As addressing common concerns

Values also matter. 86% of Gen Z and 73% of Millennials would choose lower returns if it meant their pension avoided unethical investments. So, highlight ESG options and help younger clients align their pensions with their principles. As the environmental factors are at the forefront of young people looking to their future, so should be their pensions and caring for the next generation in a sustainable way.

The result? Deeper engagement, earlier contributions, and lifelong client relationships.

Helping the next generation build financial resilience isn’t just a business opportunity—it’s a societal imperative. Advisers who adapt now will be best positioned to guide tomorrow’s retirees.

At iPensions Group, we’ve seen first-hand how younger clients are shaping expectations across the market. Our flexible SIPP solutions, intuitive online portals, and commitment to transparency are all designed to meet the evolving needs of this growing audience. Our strategy is driven by technology-enabled products and solutions as we continue to deliver innovation in the SIPP market. This agile approach to an “old fashioned” market is one that will only bring easier engagement and long-term benefits to advisers and pension providers.

Disclaimer

iPensions Group Limited is authorised and regulated by the Financial Conduct Authority, Licence Number 464521.

The pensions industry stands on the brink of a technological transformation. Artificial Intelligence (AI) is beginning to reshape how schemes operate, engage members, and manage investments. At iPensions Group, we believe that while AI offers exciting opportunities, its adoption must be handled with care, responsibility, and a commitment to safeguarding members’ futures.

Unlocking the Benefits of AI in Pensions

From streamlining administration to personalising member experiences, AI has the potential to significantly enhance the delivery and management of pension services. Recent insights from the Pensions and Lifetime Savings Association (PLSA) reveal that AI is already improving key areas, including:

Personalised communications and retirement planning tools, helping members make more informed decisions.

Fraud detection and cyber protection, increasing the resilience of pension systems.

Automated administrative tasks, reducing costs and freeing up human resources.

Support for trustees, such as summarising meeting papers or offering data-driven insights.

These innovations are not theoretical. They’re already being piloted or deployed across various schemes across the sector, with many experts forecasting that AI will become a standard component of pension fund management by 2035.

Managing the Risks: A Cautious Path Forward

Despite its promise, AI introduces real challenges. Pension schemes must be mindful of data governance, cyber risk, regulatory compliance, and ethical concerns.

Unlike some other financial sectors, the pensions industry bears a long-term fiduciary duty. That responsibility requires that all technology – no matter how advanced – must be adopted within a strong governance framework. At iPensions Group, we support the view that AI should augment, not replace, human decision-making. Trustees and administrators must remain accountable and engaged in the processes that impact members’ retirement outcomes.

Moreover, with data playing a central role in AI systems, safeguarding personal information is non-negotiable. Cybersecurity must be a foundational consideration, not an afterthought.

A Regulatory Watchdog on Alert

The UK Treasury Committee’s recent inquiry into the use of AI in financial services, including pensions, underscores both the opportunities and the scrutiny the technology invites. Lawmakers are rightly asking questions about transparency, accountability, and consumer protection. As regulation evolves, it’s essential that all industry stakeholders work collaboratively to ensure AI benefits members without introducing new risks.

Our Commitment at iPensions Group

At iPensions Group, we are actively exploring how AI can be used to enhance the way we serve advisers, trustees, and members. Whether it’s harnessing intelligent tools to simplify processes or exploring data insights to improve engagement, our focus is clear: innovation with integrity.

Our CTO Hrishi Kulkani shared his thoughts on the use and integration of AI into the pensions sector: “Artificial Intelligence is not a silver bullet, but when used responsibly, it can be a powerful tool to enhance member outcomes and operational resilience. At iPensions Group, we’re exploring AI with a clear focus: to support human decision-making, strengthen governance, and deliver meaningful efficiencies — without ever compromising the trust our members place in us.”

We are committed to staying at the forefront of AI developments – but always with our eyes on the core values that define responsible pensions management: security, transparency, and long-term trust.

Disclaimer

iPensions Group Limited is authorised and regulated by the Financial Conduct Authority, Licence Number 464521.

We are delighted to announce the acquisition of the legacy specialist SIPP and SSAS Business from Morningstar Wealth Retirement Services.

A specialist pension provider and administrator, iPensions Group, have acquired a portfolio of SIPP and SSAS business from Morningstar Wealth Retirement Services Ltd, acquiring the associated trust company and taking over as the operator and administrator.

The acquisition builds on iPensions Group’s growth strategy driven by technology-enabled solutions combined with deep technical knowledge and administrative excellence.

The SIPP and SSAS business to be transferred to iPensions Group is a legacy off platform book and features a broad range of invested assets including the interests of the schemes’ members in property. iPensions Group has a well-established specialist team dedicated to servicing clients’ property holdings within their portfolio

This latest acquisition builds on iPensions Group’s growth strategy to focus on opportunities to acquire SIPP and SSAS pension businesses that will benefit from our administrative excellence and technical expertise and follows the acquisition of the Edinburgh-based SIPP provider, Forthplus.

Group Chief Executive Officer, Sandra Robertson commented: “This latest acquisition exemplifies our focus on identifying and transferring books of business where schemes and their members will benefit from our deep technical expertise and commitment to administrative and technological excellence supported by the highest standards of personal service.”

We look forward to supporting Morningstar’s members and their diversified pensions assets which includes a focus on property that requires the specific pensions technical expertise we can offer.

Disclaimer

iPensions Group Limited is authorised and regulated by the Financial Conduct Authority, Licence Number 464521.