News

Brightwell comments on pension scheme surplus speculation

On Sunday 26 January, Sky News reported that the government is set to announce plans to unlock tens of billions of pounds from corporate pension schemes. Read Brightwell CEO, Morten Nilsson’s comments.

27/01/2025

Navigating 2025: Market outlook and implications for defined benefit pension schemes

The global economic outlook for 2025 looks promising but also presents challenges. Inflation is expected to moderate amidst steady U.S. growth, resiliency amongst some emerging markets, and shifting geopolitical and trade dynamics. According to the IMF, global GDP growth is expected to align with its long-term average, marginally above 3%. However, risks from elevated valuations, geopolitical tensions, and trade disruptions call for a measured approach by investors.

23/01/2025

Brightwell comments on the inheritance tax on pensions technical consultation

As announced at the Autumn Budget 2024, from 6 April 2027 most unused pension funds and death benefits will be included within the value of a person’s estate for Inheritance Tax purposes and pension scheme administrators will become liable for reporting and paying any Inheritance Tax due on pensions to HMRC.

22/01/2025

Brightwell comments on the government’s announcement to maintain the pension fund clearing exemption for the longer-term

Today the government announced that it will take forward secondary legislation to ensure that the pension fund clearing exemption does not expire on 18 June 2025 as currently scheduled and to remove any further time limit on the exemption.

10/01/2025

PFF Levy – the time for reform is now

The Pension Protection Fund is a key part of the UK defined benefit (DB) system, stepping in to provide essential compensation for members if the employer funding their pension becomes insolvent. It’s a lifeline to people who may think they’ve lost their entire retirement income.

06/01/2025

Bright Insight – Q4 2024

In this edition we provide our annual highlights from 2024, insights from our self-serve online retirements journey, and our CEO Morten Nilsson shares his views on reforming the PPF Levy.

17/12/2024

Brightwell comments on the 2025/26 PPF levy

Morten Nilsson, CEO, Brightwell – primary services provider to the £35.7bn BT Pension Scheme said: “We welcome the Pension Protection Fund’s (PPF) announcement that it is delaying a decision on the 2025 / 2026 levy. “A well-functioning, safe and robust defined benefit (DB) sector is in everyone’s interest and the PPF has a key role in ensuring this.

12/12/2024

End of Year Highlights 2024

2024 has been a busy and productive year at Brightwell. We’ve reached new heights of member satisfaction for BTPS and introduced a fully online retirements service. We won a new administration client – the Mineworkers’ Pension Scheme - and celebrated a year of providing fiduciary management services to EEPS.

12/12/2024

Toby Perkins MP visits Brightwell’s offices in Chesterfield

On 5 December, MP for Chesterfield Toby Perkins visited Brightwell, a major local employer with over 122 employees. Brightwell is a comprehensive provider of services to DB pension schemes and its largest client is the BT Pension Scheme (BTPS). All pension scheme administration activities are handled from Brightwell’s offices in Chesterfield.

09/12/2024

Brightwell comments on the publication of the PPF Purple Book

Morten Nilsson, CEO, Brightwell said: “The PPF Purple Book once again highlights the highly fragmented nature of UK DB schemes. It’s startling that schemes with fewer than 1,000 members make up 80 per cent of the total number of schemes but only around 10 per cent of total assets, liabilities, and members."

06/12/2024