7 Days is a weekly round up of developments in pensions, normally published on Monday mornings. We collate this information from key industry sources, such as the DWP, HMRC and TPR.

In this 7 Days

TPR regulation action plan: growth goals 2026 to 2027

On 10 July 2026, the DWP published its 2026 to 2027 growth goals for TPR. These are intended to provide a “structured set of priorities” to clarify how its actions should support the economy, particularly given the “clear growth focus” of the PSA26 and TPR’s role in overseeing delivery of the changes. As such, the goals cover four areas:

  • reform the workplace pensions sector to boost growth and support adequate income for pension savers in retirement
  • unlock surplus/capital to benefit savers, employers and the economy
  • support productive investment to help grow the economy and increase saver returns, and
  • promote the responsible and safe use of AI technologies in pensions to improve saver outcomes.

The DWP and TPR will consider next steps to assess progress made against the indicators and milestones provided for each goal, recognising that performance is expected to be “directional and longer term” and could be impacted by a range of factors outside of TPR’s control.

MaPS progress update report on pensions dashboards

On 8 July 2026, MaPS published its latest progress update report, confirming that around 85% of pension records in scope are now connected to the pensions dashboards ecosystem and that the programme remains on course following “significant activity”.

The second phase of testing of the MoneyHelper Pensions Dashboard is underway and MaPS continues to expect that the dashboard will be ready to launch to the public in the 2027/28 financial year. A further update on timescales will be given around the time of the connection deadline, 31 October 2026.

FCA publishes review of AI and the future of retail financial services

On 6 July 2026, the FCA published the Mills review, setting out how AI may impact retail financial services by 2030 and beyond. While AI might improve outcomes and support growth by “reducing friction and tackling long-standing challenges, such as advice gaps”, it could also amplify risks associated with fraud, cyber security and consumer harm. Recommendations include that the FCA monitors the advice guidance boundary to “rethink whether or not targeted support or other measures can be adjusted to better enable firms to use AI on a more individualised basis”.

TPO annual report and accounts

On 9 July 2026, TPO published its annual report and accounts for 2025/26. During the year, TPO resolved 10,793 pension complaints, a 14% increase on the previous year, making last year the organisation’s “most productive year on record”. Since the launch of its operating model review two years ago, TPO has increased case closures by 63%, with the organisation exceeding its forecast closures for 2025/26 by 10%.

PPF annual report and accounts

The PPF has published its annual report and accounts for 2025/26, with assets under management rising to £31.5bn over the period. The report also notes changes to the PPF levy, with no risk-based levy for conventional DB schemes being charged in 2025/26 or 2026/27 and the PSA26 having abolished the administration levy with effect from 1 April 2026.

In the coming year, the PPF will focus on implementing the other reforms introduced by the PSA26, including “progressing the substantial preparatory work needed” to pay pre-97 pension increases to eligible members starting from January 2027.

PASA article on the operational reality behind guided retirement

Following PASA’s recent guidance exploring the challenges facing administrators as default retirement solutions are introduced, on 8 July 2026 the PASA DC Working Group published an article which further explores some of the concerns around the operation reality of guided retirement. With current implementation timelines presenting a “significant delivery challenge for the industry”, it highlights the importance of involving scheme administrators early in the design of future retirement solutions.

Pensions UK blogs on investment in UK growth assets

Pensions UK has published two blog posts building on its recent report on investment UK growth assets, focusing on different sectors: net zero infrastructure, and AI and life sciences. The blogs look at the barriers schemes face and the steps they can take to invest, setting out recommendations for future changes to make investment more accessible to a wider range of schemes.

PPI report on pensions adequacy and housing

On 9 July 2026, the ABI published a report, Pensions Adequacy: Housing, Households and Auto-Enrolment. Building on the Pensions Commission’s interim report, the research, which was carried out by the PPI, finds that almost two million more pensioner households are projected to be renting by 2044. This would be a “threefold increase in private renters, with the greatest growth concentrated among lower-income couples, who face both the highest housing costs and the greatest barriers to making contributions”.

This shift has “significant implications for pension adequacy” since housing costs in retirement “are not adequately reflected in current pension saving norms”. The report recommends targeted reforms, including higher contributions as well as wider policy changes.