Clive Weber
- Consultant
- Pensions & Employee Benefits
Pensions Ready Reckoner – September 2026
Table of key developments in Parliament, the Courts and from elsewhere.
PARLIAMENT |
Effective Date |
Effect |
Recent Acts |
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Finance Act 2026 |
Royal Assent 18 March 2026 |
Inheritance Tax on certain death benefits under registered pension schemes applies for deaths on or after 6 April 2027. Click here for the article published on 24 June 2026 and included in September 2026 Pensions Compass |
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National Insurance Contributions (Employer Pensions Contributions) Act 2026 |
Royal Assent 29 April 2026 |
The Act empowers the making of Regulations, so that with effect from 6 April 2029 employer and employee NICs apply to amounts of salary sacrificed for employer contributions where the sacrificed amount exceeds £2000. |
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Pension Schemes Act 2026 |
Royal Assent 29 April 2026
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The Act includes new provisions for surplus extraction for DB schemes; consolidation of DC small pots; value test for DC arrangements; large DC schemes consolidation; trustees of certain DC occupational schemes to provide retirement solutions including default investment options; permanent framework for commercial superfunds; CDC retirement schemes; guided retirement; and contractual override for contract- based schemes. |
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GMP Conversion – Conversion of GMPs Act (Royal Assent 28/4/2022) |
Not yet in force |
Enables GMP conversion once relevant Regulations made. DWP’s Consultation on draft Regulations was published on 3 September 2026 and closes on 29 October 2026. |
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Data (Use and Access) Act 2025 |
Royal Assent 19 June 2025 |
Various reforms, including strengthening powers of the Information Commissioner. Most of the Act’s provisions come into effect on dates to be appointed. Some took effect on Royal Assent including those relating to searches for data subject access requests. New provisions for the handling of data protection complaints apply from 19 June 2026. Click here for our article published 14 May 2026 and included in September 2026 Pensions Compass |
RECENT AND FORTHCOMING REGULATIONS |
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| Transitional Regulations for the change in Normal Minimum Pension Age from age 55 to age 57 on 6 April 2028 | HMRC Newsletter 183, April 2026, describes the proposed transitional changes. See under HMRC below re Consultation on draft Regulations. | |
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HMRC further Regulations re abolition of the Lifetime allowance and calculating the new Lump sum Allowances |
Regulations came into force on 25 June 2026 |
Aimed at resolving outstanding queries on the calculation of the Lump Sum Allowance and the Lump Sum Death Benefit Allowance. |
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Pensions and IHT – Regulations for information sharing between PRs, PSAs and scheme members re IHT on certain pension benefits and unused pension pots. |
Regulations laid 15 July 2026 and come into force on 6 April 2027. |
Click here for the article published on 24 June 2026 and in September 2026 Pensions Compass |
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Regulations under Pension Schemes Act 2026 |
Gradually being made and taking effect 2027 – 2030 |
See under ‘DWP’ below. |
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Regulations under the NIC (Employer Contributions) Act 2026 |
By 6 April 2029 |
These Regulations will be consulted on and will provide the detailed machinery for applying and calculating the £2000 cap re sacrificed contributions. |
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Dashboards Amendment Regulations 2023 |
9 August 2023 |
December 2022 Regulations specified statutory connection deadlines. However, there were IT connection problems. The August 2023 Pensions Dashboards Amendment Regulations amended the December 2022 Regulations and specify a single statutory connection deadline of October 2026 with staging to be included in Guidance as published on 25 March 2024. Click here for the article in Part 3 of June 2024 Pensions Compass and here for the article in Part 4 of February 2026 Pensions Compass. |
FROM THE COURTS |
RECENT DECISIONS |
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TUPE Transfers McKavney v Serco Group High Court 10 March 2026 |
High Court upheld the Pension Ombudsman’s conclusion that the TUPE Transfer did not amount to the member being “compulsorily retired from service by his Employer due to redundancy or reorganisation” within the meaning of the particular scheme rules. Click here for the article in June 2026 Pensions Compass. |
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Court approved compromise Ross Trustees v Rouve High Court 23 July 2026 |
The High Court approved a Compromise of legal issues relating to the equalisation of normal retirement dates. The compromise struck a fair balance between the competing interests and avoided trial costs. |
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Data Protection Spurgeon & others v Capita High Court 9 February 2026 |
Many scheme members alleged data breaches by the scheme’s administrator Capita, following a cyber attack on Capita in 2023. The High Court dismissed Capita’s action to strike-out these claims. Footnote: another case on data security, albeit in the retail rather than pensions field, is the “DSG” case. On 19 February 2026, the Court of Appeal decided the retailer was required to take appropriate security measures to protect data from unauthorised access, regardless of whether people could be identified from the data obtained by the hackers. |
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Settlement of issues and Rectification Places for People Group Retirement Benefit Scheme High Court 19 December 2025 |
The High Court “blessed” the proposed settlement of issues including some Virgin Media section 37 issues; and ordered Rectification of various scheme documents including certain documents incorrectly executed. |
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Interpreting amendment power 3i plc v Decesare High Court 21 November 2025 |
Held that the scheme’s amendment restriction (not to diminish the “accrued rights or interests” of members in respect of “benefits already provided”) did not apply to future service benefits. This paved the way for proposed amendments. |
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Pensions Liberation Brambles v Harvey High Court 14 November 2025 |
High Court upholds Pensions Ombudsman decision re test for trustee dishonesty, and that the trust was a single trust not separate sub trusts. |
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Corporation Tax (CT) deduction disallowed A D Bly v HMRC Court of Appeal 14 November 2025 |
Deduction disallowed for employer contributions to an unfunded unregistered pension scheme. The Court of Appeal decided the main purpose was to obtain a CT deduction and therefore the contributions were not an allowable business expense, decisions of lower Courts upheld. |
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Enforcing debts against pension benefits Zubarev v Singh High Court 3 September 2025 |
The wording in the personal pension schemes could not be regarded as protecting pension benefits in the same way as under section 91 (5) Pensions Act 1995 which applies to occupational pension schemes. The court also considered the timing impact of third-party debt Orders. |
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Meaning of SPA (State Pension Age) in scheme rules Spirit (Legacy) Pension Trustees Limited v Alexis High Court 1 September 2025
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Disagreeing with the Pensions Ombudsman, the High Court ruled the particular SPA wording meant SPA was static – the SPA when the scheme rule was adopted and not the SPA when the member subsequently retired
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Settlement of Issues KO UK Pension Trustees v Coca Cola High Court 8 August 2025 |
The Court “blessed” the proposed variation of a buy-in contact and proposed use of scheme surplus. Click here for the article in Part 3 of February 2026 Pensions Compass
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Data Protection Farley v Paymaster (trading as Equiniti) Court of Appeal 22 August 2025 |
Some 400 police officers were sent annual benefit statements containing personal data including dates of birth and national insurance numbers; these were sent to out -of -date addresses. Claims were brought for compensation. In February 2024 the High Court struck out the claims as having no real prospect of success. On 11 July 2024 the Court of Appeal concluded that one of the grounds was reasonably arguable. On 22 August 2025 the Court of Appeal decided that proof that incorrectly addressed benefit statements were opened and read was not needed. Case remitted to High Court to decide whether in each case there was any damage to be compensated. Footnote – on 10 November 2025 Paymaster was granted permission to appeal to the Supreme Court on whether the police officers had a reasonable basis for compensation, with a realistic prospect of success at trial. The Supreme Court hearing is listed for 7 and 8 October 2026. |
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TPR Contribution notice against director and shareholder Pelgrave v TPR Upper Tribunal High Court 1 August 2025 |
Another win for TPR under the Pensions Act anti-avoidance provisions. Click here for the article in Part 1 of October 2025 Pensions Compass. |
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Creditor’s rights against SIPP benefits Century Property v Aldiss High Court 24 June 2025 |
Held judgment could be enforced against SIPP benefits (not possible where occupational pension scheme – see Manolete Partners v White below). |
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Correction of scheme document by Court by interpretation Renishaw v Ross Trustees High Court 23 May 2025 |
Where the language has clearly gone wrong and it is clear what was meant, the Court can correct a document as matter of interpretation – so the Court corrected the drafting of a money purchase underpin, having considered a confidential Counsel’s opinion. |
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Amendments (schemes’ merger) Arcadia Group Pension Trustees Limited v Smith High Court 3 February 2025 |
The High Court approved the proposed merger of 2 registered pension schemes and reviewed scheme trustees’ fiduciary duties in context of the proper purposes of the scheme. Click here for the article in Part 4 of April 2025 Pensions Compass. |
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Creditor’s right to enforce pension drawdown dismissed |
Whether the Court should direct a member, a former director of a company, to draw his pension to satisfy a judgment debt owing to a creditor for breach of director’s duties. On 16 March 2023 the High Court so ordered saying that section 91(2) Pensions Act 1995 was no bar as the member was to be paid his pension, albeit it would then be used by his creditor. On 15 November 2024 the Court of Appeal reversed the High Court’s decision, holding that such an order infringed section 91(2) Pensions Act 1995 which says that an order cannot be made to restrain a member from receiving a pension due under an occupational pension scheme. The position seems to be different in relation to enforcing a debt against SIPP benefits – See also Century Property v Aldiss, High Court 4 June 2025. |
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Cohabitation under the LGPS rules Thomas v Southwark Council High Court 31 October 2024 |
Successful appeal against Pensions Ombudsman’s determination re meaning of cohabitation. Click here for the article in Part 1 of December 2024 Pensions Compass. |
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Validity of amendments in absence of section 37 actuarial written confirmation |
Virgin Media asked the High Court to decide whether certain scheme amendments relating to revaluation were valid. It was argued the scheme amendments affecting contracted -out benefits should have been accompanied by written actuarial confirmation under section 37 Pension Schemes Act 1993. The Court was asked to assume there was no actuarial confirmation. On 16 June 2023 the High Court decided that, in the (assumed) absence of written actuarial confirmation, the amendments in question were void. On 25 July 2024 the Court of Appeal unanimously upheld the High Court’s decision. Click here for the article in Part 3 of October 2024 Pensions Compass and here for the update in Part 4 of July 2025 Pensions Compass on Announcement 5 June 2025. Click here for the article in Part 1 of February 2026 Pensions Compass on the Government’s “Virgin Media” amendments to the Pension Schemes Bill, reflected in the finalised Pension Schemes Act 2026. |
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Employer’s appeal about alteration powers |
On 28 July 2023 the High Court decided that, based on the scheme rules, members’ “interests” extend to future benefits as well as past. On 9 July 2024 the Court of Appeal unanimously upheld the High Court decision. Click here for the article in Part 3 of October 2024 Pensions Compass. |
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Final salary underpin Avon Cosmetics v Dalriada & Others 17 January 2024 and 19 February 2024 |
Using “severance” principles the High Court upheld the switch to CARE benefits for future service, but for past service members should receive the better CARE and Final salary linked benefits underpin. On 19 February 2024 the Court approved a compromise agreement as to the underpin’s effect. Click here for the article in Part 5 of March 2024 Pensions Compass. |
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Newell Trustees v Newell Rubbermaid High Court 23 January 2024 |
In context of conversion to money purchase, the High Court upheld the final salary underpin but based on actuarial value. Click here for the article in Part 5 of March 2024 Pensions Compass on this interesting decision. |
FROM THE COURTS |
FUTURE CASES |
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Scheme amendments Verity Trustees Ltd v Wood High Court February 2025 |
Application by the sole trustee of the Pensions Trust requesting Court directions about restrictions on the scheme’s amendment power. This MAJOR case lasted many weeks. It involves the scope and effect of a scheme amendment power. The High Court was also asked ancillary questions about the Court of Appeal’s Virgin Media decision, see above. Due to the complexity and amount at stake, judgment in Verity is not expected until Autumn 2026 at the earliest. It may be the Court will not rule on Virgin Media issues. |
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Various Part 7 Claims against Verity Trustees Ltd |
We understand some employers participating in the Pensions Trust have brought claims against the trustee alleging breach of duty, and that these claims have been stayed pending the outcome of the above High Court proceedings. |
PENSIONS OMBUDSMAN |
RECENT DECISIONS |
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Distribution of death benefits following a member’s death Miss G and Aegon Personal Pension Plan 28 July 2026 |
The PO decided that Aegon had properly exercised its discretion when distributing a member’s death benefits to the member’s widow rather than his daughter, who claimed to be financially dependent on him. The PO found that Aegon had identified and considered all relevant beneficiaries and made reasonable enquiries before reaching its decision. |
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Forfeiture of spouse’s pension benefits Mr G (on behalf of the estate of Mrs P) and The Trustees of the European Metal Recycling Limited Pension and Life Assurance Scheme 8 May 2026 |
The PO decided that the trustees were not entitled to forfeit a widow’s pension that had stopped being paid in 2001 for unknown reasons. Although they relied on a scheme rule allowing unclaimed benefits to be applied for other scheme purposes after six years, the PO found that the rule did not operate as a valid forfeiture provision. The decision contains useful guidance on when a scheme’s forfeiture clause will be valid. |
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Discretionary Pension Increases |
On 7 May 2026 the PO issued a Lead case update on this topic |
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Time limits for request for reassessment of ill-health early retirement benefits Mrs T and NHS Pension Scheme (NHS Business Services Authority) 21 April 2026 |
The scheme administrator refused to consider a member’s request for reassessment of her ill-health early retirement benefits because it was submitted after the scheme’s three-year deadline. The PO found that the administrator had failed to consider whether to exercise its discretion under the scheme Regulations to extend the time limit. The administrator was ordered to reconsider the request and provide reasons for its decision. |
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Recovery of pension overpayments caused by maladministration Mrs S and the Royal Mail Statutory Pension Scheme 25 March 2026 |
The PO decided that a scheme administrator was entitled to recover pension overpayments notwithstanding that the overpayments arose from maladministration and incorrect benefit information provided to the member. The PO considered the defences of change of position, estoppel and undue hardship but found that they did not prevent the recovery of the overpayments. |
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Distribution of scheme death benefits Mrs Y and Standard Life Self Investment Personal Pension Scheme 27 January 2026 |
The PO decided that Standard Life had properly exercised its discretion when distributing the member’s death benefits. Although the member’s widow argued that she should receive 100% of the benefits, Standard Life decided to pay her 50% in accordance with the member’s beneficiary nomination. The PO found that Standard Life had identified and considered all relevant beneficiaries and their circumstances, made reasonable enquiries, and was entitled to determine the weight given to the various factors. |
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Loss of transfer rights due to employer delay Mr K and NHS West Yorkshire Integrated Care Board 27 January 2026 |
The PO found that the employer had breached both its contractual and common law duties by failing to process the transfer request within a reasonable time. The employer was ordered to take all reasonable steps to procure the transfer and, if this could not be achieved, to compensate the member for 80% of his financial loss. |
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Duty to properly investigate potential death benefit beneficiaries Ms N – Reassure Personal Pension Plan 25 September 2025 |
A salutary reminder to identify all potential beneficiaries, to be alert to fraud and to make all appropriate enquiries. The complaint was upheld and the matter remitted to the scheme administrators to have another go! The deceased member died in 2018 – some 7 years later the distribution of death benefits remained unsettled. |
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Incorrect distribution of scheme death benefits Mrs R – Wellcome Trust Pension Plan 18 March 2025 |
The PO decided the scheme trustees had made insufficient appropriate enquiries about who was financially dependent on the deceased member. Matter remitted back to the scheme trustees to decide again. |
PPF |
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PPF Levy and PPF Administration Levy |
DWP has considered changes to the PPF legislation e.g. to enable ‘nil’ PPF levies if appropriate. Relevant provisions are in the Pension Schemes Act 2026. On 11 September 2025 the government announced provisions to abolish the PPF Administration Levy and these provisions are also in Pension Schemes Act 2026. |
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PPF Levy Rules for 2026/2027 |
The PPF’s Consultation on the Levy rules closed on 5th January 2026. The zero conventional PPF Levy for 2026/2027 is reflected in Pension Schemes Act 2026. The PPF will continue to levy what it expects to be a low Levy for alternative covenant schemes. |
DWPDC Changes under Pension SCHEMES Act 2026 – DWP updated Road Map published 13 July 2026 |
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Main Scale Default Arrangements – DWP Policy |
DWP’s 9th March 2026 Guidance sets out policy principles on the Act’s scale measures, as an overview ahead of Consultation on proposed Regulations. TPR’s Guidance on the same date complements DWP’s Guidance, see below. On 13 July 2026 DWP published a discussion paper, response due 7 September 2026. Target date for Main Scale requirements 2030. |
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Consultation on Retirement CDC schemes (R -CDC) |
On 23 October 2025 the DWP issued its Consultation on its policy proposals for Collective Defined Contribution schemes for pensioner members only. This would enable individuals with DC pots to transfer their pots at retirement into a pooled fund with subsequent adjustments based on eg investment returns. Such schemes are likely to operate within Master Trusts or unconnected multi- employer schemes. The DWP Consultation closed on 4 December 2025. Under the DWP Road Map, DWP intend to consult on draft R-CDC regulations in Autumn 2026. The R – CDC legislation is expected to apply from late 2028 enabling authorisation applications. |
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Consultation on VFM (Value for Money) Framework |
The DWP Consultation published on 13 July (with draft regulations) closed in September 2026. The VFM Regulations are expected to come into force on 6 April 2027. The DWP Road Map anticipates only larger scheme being initially subject to VFM assessment in 2028. |
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Small Pots Consolidation |
On 24 April 2025 the small pots delivery group report was released, setting out plans and a timetable for consultation re consolidation of small deferred DC pots (click here for the article in Part 3 of July 2025 Pensions Compass). Enabling provisions are in the Pension Schemes Act 2026. Further consultation is planned, leading to a best estimate start date for small pots’ consolidation in 2029/2030. |
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Guided retirement for pensioners |
Consultation on Regulations now likely to start 2027 with aim of Regulations being effective by 2029/2030. |
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Contractual override (contract-based arrangements) |
Compulsory transfers of members from under-performing DC arrangements. Tentative timescale not earlier than 2028. |
DWP – DB Schemes |
Changes under Pension SCHEMES Act 2026. |
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DB Surplus |
Major new flexibility for ongoing schemes to pay surplus to employers. Consultation closed 2 September 2027. Regulations expected to come into force 6 April 2027. Click here for article “DB Surplus major flexibilities” published 15 July 2026 and included in September 2026 Pensions Compass. |
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DB Superfunds |
Consultation on DB Superfunds regulations expected early 2027. DWP hopes new regime will come into force in 2028. |
TPR |
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| TPR Statement on DB Surplus flexibilities |
On 21 August 2026 TPR updated its Statement on DB surplus flexibilities, figures in case studies not intended as benchmarks. |
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TPR Guidance re AI |
On 20 May 2026 TPR published its expectations for how trustees should govern the uses of artificial intelligence. |
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TPR Code of Practice on supervision of CDC Schemes |
Published 29 April 2026 |
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TPR Guidance re Virgin Media remediation |
On 26 March 2026 TPR published guidance to scheme trustees including that “You will normally need to seek advice and confirmation from your legal adviser…” Footnote – the Financial Reporting Council also published useful advice in January 2026, finalised May 2026. |
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TPR Guidance on new scale requirements for DC master trusts |
TPR’s Guidance on 9 March 2026 complements the DWP Guidance on the same date, see above. TPR’s aim is to give schemes a heads-up for developing credible growth plans. |
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TPR and Financial Conduct Authority (FCA) joint consultation on the VFM (value for money) framework for trust and contract-based DC default arrangements |
The Consultation opened on 9 January 2026 and closed on 8 March 2026. The government will consider the responses in connection with regulations under the Pension Schemes Act 2026. For contract – based schemes the FCA will amend the FCA’s handbook. |
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TPR’s Revised Administration Guidance |
On 9 December 2025 TPR published its revised administration guidance to help trustees and administrators deliver high quality services. This replaces TPR’s previous guidance entitled Administration of a DC Scheme, and applies to all scheme types. |
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TPR Consultation on its Enforcement Strategy. |
The Consultation opened on 16 September 2025 and closed on 11 November 2025. TPR describes its proposed new Enforcement Strategy as a “deliberate move towards smarter, collaborative, and risk- based interventions that deliver real-world results.” Footnote: In February 2026 TPR sent a warning notice to Smiths News Plc saying it is considering a financial support direction against Smiths News and others re a former subsidiary of Smiths News |
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TPR decision re surplus – Littlewoods Pension Scheme |
On 3 June 2025 TPR published the terms of its Determination modifying scheme rules of the Littlewoods Scheme to give the trustees power to return surplus to the employer on the winding up of the scheme. |
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DB Schemes Statements of Strategy |
On 28 May 2025 TPR announced it would provide statements of strategy spreadsheets and was launching its “Submit scheme valuation” digital service. Click here for the article in Part 2 of October 2024 Pensions Compass |
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DB Schemes: Employer Covenant Guidance |
TPR published its guidance on 4 December 2024 and published its finalised views on 28 May 2025 as part of its response to its Consultation on Statements of Strategy. |
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DB Scheme Fast Track submission tests and conditions |
On 2 November 2024 TPR publish the fast – track rules for DB schemes with Valuation dates on or after 22 September 2024. |
HMRC |
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Normal Minimum Pension Age |
On 6 August 2026 HMRC published a Technical Consultation on draft Regulations re transitional arrangements for the change in NMPA from age 55 to age 57 on 6 April 2028. The Consultation ends on 28 September 2026. |
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IHT and Pensions |
On 29 May 2026 HMRC published a Technical note. On 27 August 2026 HMRC published Technical note 2 including draft Guidance re personal representatives’ Identity Evidence and draft template Withholding and Payment Notices. In Autumn 2026 HMRC intend to publish Technical note 3 dealing with specific matters including international aspects of IHT and Pensions. Early in 2027 HMRC intend to formalise their Guidance and revise the IHT Tax Manual. Click here for the article ”Planning for Major Change” published on 24 June 2026 and included in this Pensions Compass. |
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GMP Conversions |
HMRC Technical Consultation 8 June 2026 re maintaining certain tax protections notwithstanding conversion. Consultation closed 13 July 2026 |
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Tax treatment of DB surplus shared with members |
The draft legislation for Finance Bill 2026/2027 published on 13 July 2026 provides for lump sum surplus payments shared with members to be in certain circumstances authorised payments for tax purposes. HMRC’s technical Consultation closed on 7 September 2026. |
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Modernising and mandating tax adviser registration |
Finance Act 2026 requires registration of tax advisers who interact with HMRC on behalf of clients. Further Guidance from HMRC has been issued. |
PENSIONS DASHBOARDS |
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Staging Guidance |
Originally issued by DWP on 25 March 2024 and subsequently updated. Click here for the article in Part 3 of June 2024 Pensions Compass and here for the article in April 2026 Pensions Compass. As 2026 progresses it remains to be seen whether relevant schemes continue to meet their Staging Guidance as the number of schemes seeking connection builds in line with the Guidance. The deadline for all relevant schemes remains 31 October 2026 as per the legislation. In May 2026, the Pensions Dashboard Programme stated it expects the pensions dashboard first to be available to the public in financial year 2027/2028. |
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Voluntary Connection |
Guidance July 2025 |
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Data Protection Impact Assessment |
Issued by the Pensions Dashboard Programme, June 2025. This includes descriptions of how systems will work in practice. |
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PASA’s Toolkit for AVCs |
Guidance from PASA re practicalities of connecting to dashboards re AVCs. |
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Pensions Dashboards Programme (PDP) – Technical Standards |
Technical Standards have been published relating to reporting, data, and connection, containing mandatory requirements for the interaction of parties and their interaction with the PDP’s central digital architecture. On 28 January 2026 a Consultation on updating the Reporting standard was issued. The Consultation closed on 30 April 2026. |
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TPR’s Pensions Dashboards Compliance and Enforcement Policy |
On 5 September 2024 TPR published its Policy in this area including examples of TPR’s approach in 4 scheme scenarios. |
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TPR – Updated Guidance and Checklists for trustees |
On 23 April 2026, TPR issued updated Guidance and Checklists in connection with Pensions Dashboards. |
MISCELLANEOUS |
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DB Schemes: anti-avoidance re DB schemes |
On 16 June 2026, the Government announced it will in due course consult on whether and how the legislation relating to flexible apportionment arrangements should be strengthened. |
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Fairer end to Relationships |
Ministry of Justice Consultation on 5 June 2026 regarding certain rights on divorce and co-habitees’ rights in certain circumstances. Consultation closed 14 August 2026 |
This article is for general information purposes only and does not constitute legal advice or a comprehensive statement of the law. Specific legal advice should always be sought in relation to individual circumstances.
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