What does the market data show? On 8 July 2026, the London Stock Exchange (“LSE“) announced that Wayve had completed its first transaction on the LSE’s Private Securities Market. The $85 million employee tender allowed current employees to sell vested shares
More about PISCES gathers momentum: early transactions and the road aheadAt its simplest, a pension scheme surplus means that the scheme has more assets than it expects to need to pay members’ benefits. However, the existence and size of any surplus depends on the funding basis used. A scheme may
More about DB surplus major flexibilities: the new regime takes shapeIn the determination dated 8 May 2026 relating to the European Metal Recycling Limited Pension and Life Assurance Scheme (CAS -85140-P4M5) TPO considered different types of forfeiture clauses and reviewed case law such as Lloyds Banking Group Pensions Trustees Ltd
More about Pensions Ombudsman upholds Executor’s claim to past pension paymentsProcessing sensitive and special category data increases the risks of data breaches. Pension schemes are attractive targets for cyber-attacks, for example, the attack suffered by Capita in March 2023. Schemes are exposed to significant financial and reputational risk. Last year
More about Data protection – vulnerability of pension schemesFrom 6 April 2027, many unused pension funds and pension death benefits under registered pension schemes will be brought into a deceased person’s estate for inheritance tax (“IHT”) purposes. This marks a significant shift – for years, pensions have been
More about Planning for major change: relevant unused pension funds and pension death benefits will become subject to inheritance tax from 6 April 2027Please see our article below “Legislation blockbusters – an overview”. The Acts are only the beginning – many hundreds of pages of Consultations and Regulations will follow. Scheme trustees and employers must also keep up to date with other current
More about Pensions Compass – June 2026PARLIAMENT Effective Date Effect Recent Acts FINANCE ACT 2026 Royal Assent 18 March 2026 The Bill was introduced in Parliament following the Budget on 26 November 2025. Inheritance Tax on certain death benefits under registered pension schemes
More about Pensions Ready Reckoner – June 2026However, the growing use of AI in the pensions industry also raises significant risks. Legal questions rarely turn on a single provision in a scheme’s governing documentation or an isolated piece of legislation. Issues will often depend on complex interactions
More about AI in Pensions Law – opportunities and risksBackground Mr McKavney was a protected person under the Electricity (Protected Persons) (England and Wales) Pension Regulations 1990 (the EPP Regulations) and was originally employed by Magnox Electric Ltd. In 2005, his employment transferred from Magnox to Serco under TUPE.
More about TUPE Transfers are not retirement: High Court clarifies early pension triggersFor an overview of the new legislation, click here for our Bulletin on IHT and Pensions published 19/3/2026 and here for our Pension Schemes Act 2026 Bulletin published 29/4/2026. This present article looks in more detail at what lies ahead
More about Legislation blockbusters – an overview