We look at developments relating to employer covenant strength and scheme funding.  This includes issues such as contingent assets, corporate restructurings, financial distress and insolvency.

Pensions Hub

PDP updates draft code of connection

PDP updates draft code of connection

The Pensions Dashboards Programme has published version 1.1 of its draft code of connection which sets out how pension providers and schemes are to connect to the dashboards ecosystem, and what they need to do to remain connected.

United Kingdom | Publication | September 09, 2024
Virgin Media case and scheme amendments: ACA, APL and SPP issue joint statement

Virgin Media case and scheme amendments: ACA, APL and SPP issue joint statement

We reported last month that the Court of Appeal had agreed with the High Court’s previous judgment that all rule amendments to contracted-out DB schemes between 1997 and 2013 require written actuarial certification. Three pensions professional bodies have now issued a joint statement on the effect of the ruling.

United Kingdom | Publication | August 12, 2024
Pensions Regulator promises a “reasonable approach” as DB funding code now laid before Parliament

Pensions Regulator promises a “reasonable approach” as DB funding code now laid before Parliament

The Regulator’s finalised draft of the DB funding code is the final piece of the jigsaw in the new funding and investment strategy regime. After much delay the new code was laid before Parliament on July 29, 2024.

United Kingdom | Publication | August 12, 2024
Pensions Regulator updates DB superfunds guidance and highlights expectations about release of capital

Pensions Regulator updates DB superfunds guidance and highlights expectations about release of capital

The Regulator has updated its DB superfunds guidance, including the position on capital release, clarification on certain investment principles and additional detail around capital-backed arrangements and insolvency circumstances.

United Kingdom | Publication | August 12, 2024
Court of Appeal agrees with High Court that proviso in BBC pension scheme amendment power protects changes to future service benefits

Court of Appeal agrees with High Court that proviso in BBC pension scheme amendment power protects changes to future service benefits

In a judgment handed down on July 9, 2024, the Court of Appeal has upheld the earlier decision in BBC v BBC Pension Trust [2024] that “interests” of active members includes future service benefits as well as rights earned by past service.

United Kingdom | Publication | July 29, 2024
Court of Appeal upholds High Court decision in Virgin Media’s appeal

Court of Appeal upholds High Court decision in Virgin Media’s appeal

The Court of Appeal has ruled that all rule amendments to contracted-out DB schemes between 1997 and 2013 do need written actuarial confirmation that the reference scheme test continues to be satisfied.

United Kingdom | Publication | July 29, 2024
King’s Speech unveils new Pensions Bill

King’s Speech unveils new Pensions Bill

At the state opening of Parliament on July 17, 2024, the King’s Speech set out the new Government’s intention to introduce a Bill legislating on several areas of pension policy.

United Kingdom | Publication | July 29, 2024
Government launches widescale review of UK pensions industry

Government launches widescale review of UK pensions industry

A new review of the UK pension system aims "to boost investment, increase pension pots and tackle waste in the pensions system". As promised in their manifesto, on July 20, 2024, Rachel Reeves, the new Chancellor of the Exchequer, announced the “big bang on growth” to boost investment and savings. The review is to be led by the new joint Treasury and Department for Work and Pensions Minister, Emma Reynolds MP.

United Kingdom | Publication | July 29, 2024
DB scheme funding: funding and investment strategy regulations now in force

DB scheme funding: funding and investment strategy regulations now in force

On April 6, 2024, the new DB scheme funding regulations came into force, setting out the revised DB funding framework which includes the requirement for schemes to have a funding and investment strategy.

United Kingdom | Publication | April 15, 2024


Recent publications

Publication

Pensions Regulator launches innovation support service

On May 19, 2025, the Regulator launched a new support service which it says will “unlock” pensions industry innovation with the aim of boosting saver outcomes.

United Kingdom | May 28, 2025

Financial institutions

Publication

Pensions dashboards: PDP publishes May 2025 progress update report

On May 15, 2025, the Pensions Dashboards Programme published its latest progress update report.

United Kingdom | May 28, 2025

Financial institutions

Publication

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 | May 28, 2025

Financial institutions
Site search

Subscribe and stay up to date with the latest legal news, information and events . . .

Register now