Broadly, 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 legislationAs we move further into the 2025/26 tax year, this edition focuses on the importance of forward planning — particularly in light of the government’s proposed inheritance tax reforms in respect of agricultural property relief (“APR”) and business property relief
More about In Trust – June 2025Given the legislation upon which we currently rely is almost two hundred years old, some might say reform is long overdue, however, are we ready for change? Many of the recommendations contained in the report are welcome; adopting gender neutral
More about Modernising wills law: Are we ready for change?Although termed “marriage”, this coercion can apply equally to civil partnerships. As we approach Elder Abuse Awareness Day on Sunday 15 June, we consider what steps can be taken to help avoid such devastating financial abuse. Perpetrators of predatory marriage
More about Predatory marriage: How to safeguard against itUndoubtedly 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?There is also a common misconception that Lasting Powers of Attorney (LPAs) are only necessary for older individuals preparing for conditions like dementia. In reality, LPAs are vital for anyone, regardless of age; Financial LPAs can be used even before
More about Lasting power of attorney: Essential for all agesWelcome to the May 2025 edition of Globally Speaking, our international e-bulletin for private client, family office, and trustee clients and contacts. As the global private wealth landscape continues to evolve, this issue explores the shifting tax, legal, and geopolitical dynamics
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