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

Pensions Hub

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
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
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
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
General Election: Liz Kendall appointed new Secretary of State for Work and Pensions

General Election: Liz Kendall appointed new Secretary of State for Work and Pensions

The new Prime Minister, Sir Keir Starmer, has appointed Liz Kendall as the new Work and Pensions Secretary.

United Kingdom | Publication | July 11, 2024
UK Pensions Briefing | Pensions Regulator publishes its Annual Funding Statement 2024 and Corporate Plan 2024-27 in “rapidly shifting” pensions market

UK Pensions Briefing | Pensions Regulator publishes its Annual Funding Statement 2024 and Corporate Plan 2024-27 in “rapidly shifting” pensions market

On April 24, 2024, the Regulator published its DB Funding Statement focussed on trustees of schemes with valuation dates between September 22, 2023, and September 21, 2024 (“Tranche 19” schemes).

United Kingdom | Publication | May 22, 2024
HMRC publishes further guidance on LTA abolition in Newsletter 159

HMRC publishes further guidance on LTA abolition in Newsletter 159

On April 25, 2024, HMRC published the latest edition of its pension schemes newsletter.

United Kingdom | Publication | May 14, 2024
Pensions Regulator issues its 2024 Annual Funding Statement for DB Schemes together with its Corporate Plan 2024-27

Pensions Regulator issues its 2024 Annual Funding Statement for DB Schemes together with its Corporate Plan 2024-27

The Regulator has issued its DB Funding Statement, which is aimed primarily at schemes with valuation dates between September 22, 2023, and September 21, 2024, or “Tranche 19 schemes”. However, the statement is also relevant for schemes which have been significantly impacted by the “changes in market conditions” in recent years, and therefore need to review their investment strategy.

United Kingdom | Publication | May 14, 2024


Recent publications

Publication

UK Pensions Briefing | Pension Schemes Bill – highlights for DB arrangements

The Pension Schemes Bill offers the prospect of access to surplus, definitive rules for superfunds, a reduced PPF levy and easier recovery of overpayments. Change is underway.

United Kingdom | June 23, 2025

Financial institutions
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Canada | June 23, 2025

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