A busy market, with more smaller transactions The UK pension risk transfer market remained active in the first half of 2026. Hymans Robertson counted more than 135 transactions, with an aggregate value of about £10.2 billion, compared with £9.8 billion in the same period a year earlier. A notable feature was the number of transactions below £100 million. The figures are evidence of activity, not a forecast for the

In January 2024, The Pensions Regulator laid its General Code in Parliament, consolidating ten existing codes covering pension governance and administration. The original announcement anticipated commencement on 27 March; the regulator’s later annual report records actual commencement on 28 March 2024. The historical distinction matters. The code brought expectations into a more coherent format, while many underlying standards were already established. For multinational pension sponsors, the practical question is