Who needs to verify? The ID-V regime will apply to all new and existing company directors (modified for other registered business vehicles), PSCs and anyone filing on behalf of UK companies. The aim of targeting these key individuals is to improve
More about The implementation of compulsory identity verification: Autumn 2025Broadly, the Bill’s Royal Assent is not expected until mid-2026. Then Consultation starts on the proposed associated Regulations on which the government has to consult – which it must do in many cases. Finalised Regulations and Guidances are generally likely
More about Part 1 – Pension Schemes Bill timelineThe UK Government has taken a significant step with the introduction of the new Pension Schemes Bill towards making it easier for defined benefit (“DB“) pension scheme surpluses to be paid to employers. According to the Government’s consultation response in
More about Part 2 – Surplus reformsOn 5 June 2025, the UK Government published the Pension Schemes Bill, outlining significant reforms aimed at transforming the defined contribution (“DC“) pension scheme landscape. The Bill was accompanied by the Government’s final report on its Pension Investment Review and a DWP publication entitled “Workplace
More about Part 3 – Pension Schemes Bill – Defined contribution schemesOther Bill Changes Some other changes in the Bill not featured in the preceding parts of this Pensions Compass: Pensions Ombudsman and Recovery of Overpayments The Bill gives the PO power (like those of a competent court) to facilitate scheme
More about Part 4 – Pensions scheme bill: Other changes and missing legislationUndoubtedly the Government’s aims are bold: to slant schemes’ investments in ways the Government perceive to be in the interests of the UK economy, improving the lot of members by hopefully enhancing investment returns, and releasing – so the Government hopes
More about Pension Schemes Bill due to be laid in parliament on 5th June 2025 – Giant STEP forward?
On April 6, 2025, the Neonatal Care (Leave and Pay) Act 2023 introduced significant changes for parents of new-borns requiring neonatal care. This new legislation aims to alleviate the stress faced by parents during challenging times, ensuring they can focus
More about Neonatal careThe Employment Rights Bill has undergone significant amendments following extensive consultations and parliamentary debates. Here’s an overview of the key updates. ‘Right to Switch Off’ Abandoned Initially proposed as part of the “New Deal for Working People,” the right to
More about Employment Rights Bill: Key updates and implications for employersOn 28 January 2025, the UK Government announced proposed legislative changes aimed at unlocking scheme surpluses. The changes are aimed at allowing employers to access surplus funds ‘trapped’ within schemes to enable trustees and sponsoring employers the ability to boost
More about Part 1 – Defined benefit (DB) surplus – UK government plans major changes to trapped surplus regimeBackground In 2005, Janus Henderson, the asset management group (formerly the Henderson Group) established an employee benefit trust to benefit employees and their families, and an employer-financed retirement benefit scheme in 2011 (established in anticipation of legislative changes), to benefit
More about Part 2 – High court decision – IHT mistake allowed for trust rescission