Aegon UK has added three long-term asset funds to its largest workplace pension default fund, the Universal Balanced Collection.

Scottish Widows’ £60bn default workplace pension fund, Pension Investment Approaches (PIA), is to transition to a new default offering with a higher exposure to equities and a shorter de-risking phase.

Retirement specialist Aegon has launched a new initiative for workplace pension members to allow them to give loved ones access to the scheme price benefits when they take out an ISA. 

Fidelity International is to add private assets to its £16.9bn default investment strategy for UK workplace pension schemes.