The Pensions and Lifetime Savings Association (PLSA) has released an updated Vote Reporting Template, incorporating recommendations from the Financial Conduct Authority's (FCA) Vote Reporting Group (VRG). The updated template introduces standardised vote category fields and narrative rationale requirements for significant votes, aimed at helping pension trustees managing £2.5trn in assets demonstrate their stewardship activities. The updated template merges the VRG template with PLSA's existing framework to create a standardised format for asset managers to report voting activities to asset owners.

The Pensions and Lifetime Savings Association (PLSA) published research on 14 March 2025 showing 53% of UK pension savers prefer domestic investments, with 37% favouring UK investments if returns match international options and 16% accepting potentially lower returns. The study of 2,071 adults found 63% were unaware if their pensions included UK investments. On environmental concerns, 70% worried about climate impact but only 19% of defined contribution savers would definitely accept lower returns for greener investments. PLSA called for government action to create suitable UK investment conditions.

The Pensions and Lifetime Savings Association (PLSA) has submitted a comprehensive response to the Department for Work and Pensions' (DWP) consultation on regulations for multi-employer Collective Defined Contribution (CDC) schemes. The PLSA's response underscores the potential of these innovative pension models to transform retirement savings for participating organisations and their employees. The association emphasises the importance of striking a delicate balance between robust member protections and sufficient flexibility for non-profit schemes to take the lead. The PLSA views this as a pivotal opportunity to redefine the approach to retirement savings in the UK, building upon the recent milestone of the Royal Mail CDC scheme launch. The association's stance suggests that while only a few multi-employer CDC schemes may be established initially, they could provide tailored, secure pensions for millions in specific sectors.

The Pension and Lifetimes Savings Association (PLSA) raised concerns in its submission responding to the (Financial Conduct Authority (FCA)’s consultation CP24/16 Value for Money Framework. The submission acknowledged the framework's complexity and appreciated the regulator's extensive industry engagement. However, it also expressed concerns about the framework's effectiveness, the risk of competing objectives which could undermine policy goals, and how certain elements might hinder driving a focus towards long-term value, rather than cost.

The Pensions and Lifetime Savings Association (PLSA) has submitted a response to the Financial Reporting Council's (FRC) consultation on proposed revisions to the UK Stewardship Code. While welcoming efforts to streamline reporting requirements, the PLSA expresses concerns about the proposed new definition of stewardship, which omits explicit references to 'environment' and 'society'. The PLSA argues that this change risks diluting stewardship standards at a time when environmental and social considerations are increasingly important. The PLSA emphasises the voluntary nature of the Code and its role as a beacon of best practice, urging the FRC to maintain robust stewardship standards in line with the government's commitment to sustainable finance and the green transition.

The Pensions and Lifetime Savings Association (PLSA) has responded to the Treasury Select Committee's call for evidence on the Lifetime ISA (LISA). While acknowledging the LISA's potential value for retirement savings, the PLSA emphasises that it should not be considered a substitute for workplace pensions as the LISA lacks the benefits of employer contributions, tax relief, and long-term investment returns available in occupational pensions. The PLSA expresses concern that the LISA's dual-purpose design may inadvertently prioritise housing savings over pension contributions. The PLSA proposes several reforms to the LISA, including adjustments to accessibility, contribution limits, and age restrictions. Additionally, the PLSA recommends a comprehensive review of the LISA regime to simplify and improve saver engagement. The submission also reiterates the PLSA's call for reforms to automatic enrolment, such as widening its scope and increasing the minimum contribution rate to 12%, to address inadequate retirement savings among UK savers. For groups excluded from AE, the PLSA suggests that the LISA can serve as a temporary option, however it emphasises that the priority should be to include these individuals in workplace pension schemes.

The Pensions and Lifetime Savings Association (PSLA) has published its response to the call for evidence for the Pensions Investment Review. The response states that pension fund consolidation is beneficial, but should form part of a broader strategy for growth. It states that a properly structured system with 'fewer, larger pension schemes has the potential to deliver more diverse capital allocation across private and public markets, strong governance and oversight, the ability for schemes to negotiate more favourable costs and charges, greater investment expertise and better services for members, including improved communications and sophisticated procurement methods.' The PSLA makes recommendations for intervention which will lead to higher investment, including establishing a pipeline of investable assets, the government providing fiscal and investment incentives, consolidating investments and setting out a clear plan for the future of the economy.

The Pensions and Lifetime Savings Association (PLSA) has published a statement responding to reports on the potential merger of two local government pension scheme pools, ACCESS and Brunel, with other pools. While acknowledging the potential benefits of consolidation, the PLSA emphasises prioritising the interests of local authority pension scheme members. It advocates for a transparent, fair, evidence-led and fully costed merger process, cautioning against penalising pools for having different business models and highlighting the costs, resources and time involved in changing existing investment arrangements. The PLSA calls for ongoing dialogue between the affected pools and the government to ensure solutions serve members' best interests.

The Pensions and Lifetime Savings Association (PLSA) is recruiting up to five new members for its Policy Board, which shapes the organisation's public policy positions on pensions and lifetime savings. The PLSA is specifically seeking candidates from local authority funds, large master trusts, contract-based defined contribution (DC) schemes, and large defined benefit (DB) or hybrid schemes within its membership. This recruitment follows the completion of terms by some existing members and aims to maintain the Board's diverse expertise. In 2024, the Policy Board tasked the PLSA with making recommendations to the government on encouraging UK investment without compromising pension schemes' fiduciary duties. The Board has also set an agenda for the PLSA to lobby for reforms to enhance the retirement savings system, underscoring the importance of recruiting skilled professionals to represent members' interests in key retirement income issues. The deadline for applications is Friday, 7 February 2025. To find out the criteria for selection and how to apply, visit the PLSA website.

The Pensions and Lifetime Savings Association (PLSA) has announced that the establishment of the role UK pensions funds cam play in supporting UK economic growth will be the top strategic public policy priority for 2024. After having consulted with a wide range of pension providers, policymakers, think tanks and stakeholders in 2023 the PLSA has made several specific recommendations that are aimed at promoting further investment by schemes in assets which can help boost UK economic growth.

The Pensions and Lifetime Savings Association (PLSA) has submitted a response to the Treasury Committee's Artificial Intelligence (AI) in Financial Services inquiry highlighting both opportunities and risks in pension scheme AI adoption. A PLSA survey indicates widespread AI implementation by 2035, with 79% of members expecting use in engagement strategies and 75% in fraud detection. The submission emphasises that human oversight must remain central to decision-making due to regulatory requirements, with trustees retaining accountability for fiduciary duties. PLSA has committed to producing guidance on AI implementation risks and opportunities.

The Pensions and Lifetime Savings Association (PLSA) has responded to government consultations on Mansion House reforms affecting defined contribution (DC) schemes and the Local Government Pension Scheme (LGPS). While supporting the overall objectives of fostering economic growth and improving outcomes for savers, the PLSA warns of potential implementation issues and unintended consequences. For DC schemes, the PLSA expresses concern that the proposed scale test may not achieve the goal of increasing UK productive asset investment and could disrupt the market. Regarding LGPS reforms, the PLSA supports funds setting local investment targets and enhancing governance but cautions against changes to strategic asset allocation responsibilities. The association also advocates for a pragmatic approach to compliance timelines for both sets of reforms.