Money Marketing’s Weekly Must-Reads: Top 10 Stories
This week’s top headlines in the financial services sector cover two major developments: the state pension, which is set for a 4.7% increase in April 2026, and the upcoming scrutiny by the House of Lords of plans to impose inheritance tax on pensions.
Here are the ten most-read stories on Money Marketing from the past week:
State pension set for 4.7% rise in April 2026 amid triple-lock pressures
This past week brought good news for pensioners, as new figures showed the state pension is on track for a 4.7% rise next April.
This means the full new state pension could reach over £12,500 for the first time. However, this welcome news also raises tricky questions.
Experts warn that the triple lock, combined with frozen tax thresholds, could soon mean that retirees relying solely on the state pension will be dragged into paying income tax.
House of Lords to scrutinise plans to impose IHT on pensions
In a bid to get a better handle on a thorny issue, the House of Lords is now scrutinising controversial plans to impose inheritance tax on pensions.
The proposals have been met with widespread criticism, with experts warning of a complex administrative burden for bereaved families.
The government has confirmed its plans, shifting the responsibility of calculating and paying the tax to executors of the estate.
Aegon targets one million members with new pension app Mylo
Seeking to boost pension engagement, Aegon has launched a new app called Mylo.
The app, which is being rolled out to one million members, uses data to support people through key life stages like changing jobs or getting a pay rise.
Research showed that many people feel anxious about pensions, and so the firm designed Mylo to feel more approachable and less intimidating than a standard pension app.
M&G Wealth platform CEO joins consultancy firm’s board
Richard Denning, CEO of the M&G Wealth platform, has joined the board of consultancy firm Simplify Consulting as a non-executive director.
He is joined by Kate Webber, chief solutions and technology officer at Principles for Responsible Investment.
Simplify Consulting has also appointed Denning and Webber to strengthen its wealth management position as it accelerates its expansion in financial services.
Mark Dampier: Rules that make retirement harder not easier
Independent consultant Mark Dampier has been pondering why the rules designed to protect retail clients actually make investing and retirement harder.
He argues that regulations create a vacuum of information for retired investors and make it difficult for platforms to support decumulation.
He believes that by only being allowed to discuss funds after three to five years, investors miss out on strong early performance.
Royal London leads personal pension market as Aviva dominates SIPPs
New analysis from Defaqto shows that Royal London has retained its top spot as the most recommended personal pension provider, while Aviva leads the SIPP market.
The report, which is based on recommendations from over 30% of UK advisers, found that financial strength and functionality are key factors in adviser selection.
This highlights the competitive nature of both the personal pension and SIPP markets.
Royal London launches new stocks and shares Isa with adviser focus
Royal London has launched a new stocks and shares Isa to sit alongside its pension products.
The offering, which is available through financial advisers, provides customers with access to the same award-winning investment choices and a competitive tiered charging structure.
The new Isa is designed to be simple to apply for and manage online, providing a seamless experience for both clients and advisers.
Leader: Why platform CEOs fear the R-word
In his Leader, Momodou Musa Touray writes that replatforming remains the greatest challenge for the financial services industry.
He notes that the process is so risky and expensive that many platform CEOs are hesitant to take it on.
However, he warns that with the Consumer Duty raising the bar, firms that cling to outdated systems will be left behind by those who are brave enough to embrace the necessary pain for a more resilient and efficient future.
Women to invest less of their inheritance from the great wealth transfer
According to recent research, women are set to inherit a substantial portion of the great wealth transfer but are investing less than their male counterparts.
Data from Capital Group showed that women are saving more, but also spending more, and later regret not investing a larger share.
Intriguingly, women are almost twice as likely to seek investment advice from social media instead of financial advisers.
UK inflation picture ‘increasingly ugly’ as it holds at 3.8%
Fresh inflation data shows the UK’s rate holding at 3.8% in August, which experts have described as “increasingly ugly”.
While services inflation has slowed, rising food prices and high wage growth have raised concerns.
This stubborn inflation picture suggests that the Bank of England is unlikely to cut interest rates in the near term, keeping the pressure on households and businesses facing elevated borrowing costs.
