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The aggregate surplus of DB pension schemes climbed to £230.5bn at the end of June, according to the latest Pension Protection Fund (PPF) 7800 Index.

SIPP savers are facing a ‘retirement mirage’ as their confidence about achieving a comfortable retirement outpaces their understanding of how they will achieve it.

The aggregate surplus of UK pension schemes against long-term funding targets remained extremely positive at £189bn at the end of June, up £26bn compared to the end of June 2024.

Complaints to the Financial Ombudsman soared by over 50% during the past year to top 305,000 - driven in large part by claims from professional representatives, including claims management companies.

The Financial Services Compensation Scheme says that a surge in complaints about SIPPs over the past year was one of the "main drivers" of a growth in complaints, according to its annual report.

The Financial Conduct Authority is expecting to have spent over £5.5m on its advice guidance boundary review by April 2026.

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