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Blog For the last few years, the pensions industry has been in a state of constant preparation. We’ve talked about the new DB Funding Code, prepared for Pensions Dashboards, and watched the Pension Schemes Bill take shape.
2026 is the year these conversations move from theory to reality.
Many schemes will run their first valuation under the new Funding Code. Pensions Dashboards connection deadlines are getting closer. The BPA market is dealing with capacity pressure, and the Pension Schemes Bill looks likely to shift the rules of the game.
At the same time, the bar for service has moved. Members now expect on-demand data and modern digital interactions as standard.
The shift is clear. The planning phase is over. 2026 is about execution. It will reward schemes that have moved beyond “getting ready” and are now capable of delivery. It starts with clean data, efficient systems, and confident decision-making.
Here are the five themes we expect to define the year ahead, and where technology will make the difference between keeping pace and falling behind.
1) Buy-in and Buyout: Capacity Constraints Drive Selection
Bulk purchase annuity (BPA) activity will remain high in 2026. More schemes can afford to transact, and more trustees now see buy-in or buyout as a realistic destination rather than a distant idea.
Capacity constraints mean insurers are increasingly selective.
When insurers have plenty of choice, they focus on schemes that are well-prepared. That usually means:
- having clean member data and benefit histories
- being able to show a clear benefits specification and a solid audit trail
- producing reliable management information on membership movements, retirements, deaths and contingent spouses
- demonstrating that the scheme can execute without surprises
In a buoyant BPA market, the schemes that move fastest are often the ones that did the unglamorous work early. Data, processes, and documentation.
2) Admin capacity: Efficiency as a necessity
A lot of industry conversation focuses on market conditions and insurer pricing. The quieter constraint is operational capacity.
Many teams are already stretched. When you add a dashboards programme, ongoing rectification, GMP equalisation tail work, and buyout readiness activity, it is easy to see why efficient delivery is hard.
If a scheme’s delivery strategy relies on manual spreadsheets and file transfers between systems, these competing demands will create gridlock. Efficiency in 2026 isn’t a cost-saving exercise. It’s a delivery strategy.
In practice the biggest wins come from:
- cutting down the number of manual touchpoints across admin, actuarial and payroll
- moving key calculations out of spreadsheets and into controlled processes with a clear audit trail
- using workflow to surface the exceptions and let routine cases can run straight through
In practice, it is the difference between admin teams spending time on judgement-heavy work, versus spending time copying data between tools.
3) Pensions Dashboards: Why data becomes “always-on”
2026 is a pivotal year for the Pensions Dashboards Programme. Data quality is no longer something you tidy up “for the big moment”. It is becoming an “always-on” requirement.
Dashboards will act as a magnifying glass. When members can see pension information more easily, small inconsistencies become obvious. Matching issues create confusion. Missing fields create questions. If the scheme cannot answer quickly, the workload lands back on already stretched admin teams.
The shift this year means:
- keeping benefit specifications clear and calculation logic consistent
- maintaining strong audit trails for changes and corrections
- building repeatable processes to produce and refresh key values, including retirement income figures where required
- spotting exceptions early, before they turn into delays and rework
- relying on management information you trust when decisions need to be made quickly
When data is reliable, everything else gets easier. Automation works. Reporting is faster. Transactions run smoother. Member communications become clearer. Dashboards become manageable, rather than a permanent source of manual effort.
4) Member engagement: The “on-demand” expectation
Member engagement is often discussed as a service ambition. In 2026 it becomes unavoidable.
As pension information becomes easier to access, members naturally ask more questions. They will want clarity on what they have, what it means, and what choices they can make.
Modern members expect their pension experience to match their banking experience: digital, instant, and clear. If the scheme cannot answer efficiently, that demand turns into pressure on admin teams.
The most effective response is:
- guiding members through journeys that explain benefits in plain English
- giving members tools to model the common “what if” questions
- making it easy to update details and submit routine requests
- using clear prompts that reduce avoidable queries
Done well, member engagement improves experience and reduces operational load at the same time. That is the sweet spot for 2026: better outcomes for members, fewer avoidable contacts for administrators, and more time for teams to focus on the cases that need human judgement.livers a better experience for administrators and ultimately the member.
5) DB endgame strategy in 2026: buyout, run-on, consolidation and surplus
With the new DB Funding Code now in play, the long-term funding mindset is embedded. However, the destination is not one-size-fits-all.
Some schemes will pursue buyout at pace. Others will plan for buy-in first, then stage their way forward. Some will explore consolidator options where that makes sense. And more schemes will ask serious questions about running on, particularly where funding strength creates flexibility.
This is where good modelling and good information really matter. Trustees need to compare options properly:
- understanding what each route does to risk
- understanding the impact on cost and governance
- being clear on what it means for members, including communications and service levels
- being clear on what it means for sponsors, especially where surplus emerges
2026 will reward schemes that can turn these into practical choices, based on timely data and consistent calculations, rather than slow cycles of manual analysis.
Closing thoughts
2026 is the year pensions moves from planning to delivery.
Schemes that are aiming for BPA deals will need to be transaction-ready in more than name. Schemes preparing for dashboards will need a sustainable way to keep data accurate and calculations repeatable. Schemes thinking about endgame options will need modelling that is fast enough to support real decisions, not just retrospective reporting.
If we get those foundations right, the year ahead is genuinely exciting. Not because everything becomes simpler, but because better systems and better data let pension professionals spend more time on what truly matters: making the right decisions for members and sponsors.
For further information on what Mantle can offer, visit our website www.mantleservices.com or contact us at enquiries@mantleservices.com
