What’s happening on scheme investments, including climate change, other environmental, social and governance (ESG) issues, stewardship, voting and reporting. This will mainly be of interest to trustees and fund managers.

Pensions Hub

Pensions Minister launches “Pound for pound” initiative

Pensions Minister launches “Pound for pound” initiative

Pensions Minister, Torsten Bell, hosted a roundtable on July 22, 2025, at which the ‘Pound for Pound’ initiative was launched. This is a pilot exercise designed to test value-based metrics ahead of the implementation of the forthcoming Value for Money framework.

United Kingdom | Publication | August 18, 2025
Financial Conduct Authority publishes review of climate reporting

Financial Conduct Authority publishes review of climate reporting

The FCA has set out the findings and next steps following its review into firms' climate reporting in line with its rules.

United Kingdom | Publication | August 18, 2025
Mansion House speech outlines financial services sector reforms

Mansion House speech outlines financial services sector reforms

Rachel Reeves, the Chancellor, gave her second Mansion House speech on July 15, 2025.

United Kingdom | Publication | July 28, 2025
HM Treasury publishes policy note and draft Order on new regulated activity of targeted support

HM Treasury publishes policy note and draft Order on new regulated activity of targeted support

On July 15, 2025, HM Treasury published a policy paper on and proposed amendments in a draft Order to create a new specified activity of targeted support.

United Kingdom | Publication | July 28, 2025
Regulations implementing long-term pension fund clearing exemption come into force

Regulations implementing long-term pension fund clearing exemption come into force

The Pension Fund Clearing Obligation Exemption (Amendment) Regulations 2025 were made on June 10, 2025, and came into effect the following day.

United Kingdom | Publication | July 14, 2025
FCA consults on proposals for targeted support for pensions

FCA consults on proposals for targeted support for pensions

On June 30, 2025, the Financial Conduct Authority published a consultation paper on its regulatory proposals for a new form of “targeted support” for consumers' pensions and retail investment decisions. The consultation ends on August 29, 2025.

United Kingdom | Publication | July 14, 2025
HMRC revises policy on VAT on DB investment management costs

HMRC revises policy on VAT on DB investment management costs

On June 18, 2025, HMRC published a brief confirming that employers can claim all the input VAT incurred on costs relating to the management of assets held in occupational pension funds (investment costs).

United Kingdom | Publication | July 14, 2025
Pensions Regulator publishes final response to consultation on statement of strategy and launches new digital valuation submission

Pensions Regulator publishes final response to consultation on statement of strategy and launches new digital valuation submission

The Regulator has published the final response to its consultation on proposals to help trustees of DB schemes meet new requirements for submitting a statement of strategy.

United Kingdom | Publication | June 12, 2025
Government outlines significant changes in pensions value, consolidation and UK investment in three publications

Government outlines significant changes in pensions value, consolidation and UK investment in three publications

The aims of the Pensions Investment Review, launched in July 2024, were to tackle fragmentation, boost investment, increase saver returns and address waste in the pensions system.

United Kingdom | Publication | June 12, 2025


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Lesley Browning
Lesley Browning
Partner
Email
lesley.browning@nortonrosefulbright.com
T: +44 20 7444 2448 / +44 77 1030 3311
Shane O'Reilly
Shane O'Reilly
Partner
Email
shane.o'reilly@nortonrosefulbright.com
T: +44 (20) 74443895

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