This page focuses on developments that will mainly affect and be of interest to corporate sponsors of pension schemes.

Pensions Hub

Pension Schemes Bill to include DB surplus release provisions

Pension Schemes Bill to include DB surplus release provisions

The DWP has confirmed that the forthcoming Pension Schemes Bill will include changes to DB surplus rules to provide more flexibility for surplus release.

United Kingdom | Publication | May 28, 2025
UK Pensions Briefing | Pensions Regulator publishes its first Annual Funding Statement under the new funding code

UK Pensions Briefing | Pensions Regulator publishes its first Annual Funding Statement under the new funding code

The Regulator’s annual funding statement for private sector DB schemes was published on April 29, 2025. It is the first such statement since the new DB funding regime came into force from September 22, 2024, onwards.

United Kingdom | Publication | May 21, 2025
Pensions Regulator publishes its first Annual Funding Statement under the new funding code

Pensions Regulator publishes its first Annual Funding Statement under the new funding code

The Regulator's annual DB funding statement for 2025 was published on April 29, 2025. This statement and the accompanying analysis paper are particularly relevant to schemes with valuation dates between September 22, 2024, and September 21, 2025, now known as Tranche 24/25 or T24/25 to reflect the calendar year (previously known as Tranche 20 or T20).

United Kingdom | Publication | May 20, 2025
Regulator publishes market oversight report for trustees on market volatility

Regulator publishes market oversight report for trustees on market volatility

The Regulator has published a report entitled Market oversight: Market volatility and what trustees should do, which setting out its insight into DB and DC schemes' response to the current market environment and highlighting risks of which trustees should be aware.

United Kingdom | Publication | May 20, 2025
Regulator blogs on

Regulator blogs on "friction points" in superfund transfer process

The Regulator has published a blog reflecting on its experience of clearing transfers of DB pension schemes to DB superfunds. To date, only the Clara DB superfund has met the Regulator's assessment process and three transfers to that superfund have been cleared.

United Kingdom | Publication | May 20, 2025
Pensions dashboards: Regulator issues films highlighting their importance

Pensions dashboards: Regulator issues films highlighting their importance

As part of its campaign to get the pensions industry dashboard ready, the Regulator has issued a series of short films highlighting the difference pensions dashboards will make to savers.

United Kingdom | Publication | April 25, 2025
PASA expands its guidance on buy-in and buyout data readiness

PASA expands its guidance on buy-in and buyout data readiness

The Pensions Administration Standards Association's Data Working Group has issued expanded its guidance on data readiness for schemes preparing for buy-ins and buyouts.

United Kingdom | Publication | April 25, 2025
Association of Consulting Actuaries publishes policy paper on DB surplus flexibility

Association of Consulting Actuaries publishes policy paper on DB surplus flexibility

A policy paper from the Association of Consulting Actuaries, Unlocking DB Pension Scheme Surplus, sets its recommendations for new legislation and supporting guidance to cover. This follows the announcement by the Chancellor in January 2025 that the government intends to lift restrictions on how well-funded DB schemes may release surplus funds.

United Kingdom | Publication | March 13, 2025
PPF publishes PPF Levy for 2025/26 and DWP publishes levy ceiling Order

PPF publishes PPF Levy for 2025/26 and DWP publishes levy ceiling Order

On January 30, 2025, the PPF published its levy determination and rules for the 2025/26 financial year, following a consultation in Autumn 2024 on technical changes to allow it to maintain a minimum levy of £100 million.

United Kingdom | Publication | February 14, 2025


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