Clive Weber
- Consultant
- Pensions & Employee Benefits
| PARLIAMENT | Effective Date | Effect |
| Bills (and Acts not yet in force) | ||
| National Insurance Contributions (Employer Pension Contributions) Bill | 6 April 2026 (effect from 6 April 2029)
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The Bill 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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| Finance (No 2) Bill | 6 April 2026 | The Finance (No 2) Bill was introduced in Parliament following the Budget on 26 November 2025. Inheritance Tax on certain death benefits under registered pension schemes with effect from 6 April 2027. Click here for the article in Part 5 of this Pensions Compass. |
| Pensions Schemes Bill |
Commons stages completed and Bill now in House of Lords. Royal Assent expected Spring 2026. |
The Bill includes new rules 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; and permanent structure for commercial superfunds. Click here for articles in July 2025 Pensions Compass.
The Bill also facilitates relevant schemes handling “Virgin Media” issues. Click here for the article in Part 1 of this Pensions Compass. |
| GMP Conversion – Conversion of GMPs Act (Royal Assent 28/4/2022) | Not yet in force | Enables GMP conversion once relevant Regulations made. Still awaiting DWP’s Consultation on draft Regulations.
Click here for article in June 2022 Pensions Compass. |
| Recent Acts in force | ||
| 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. |
| Finance Act 2025 | Royal Assent 20 March 2025 | Overseas transfer charge: transfers to QROPs in EEA or Gibraltar no longer excluded from overseas transfer charge; conditions of OPS and ROPs established in EEA aligned with OPS and ROPs established in rest of the world from 6 April 2025; and as from 8 April 2025, scheme administrators of registered pension schemes must be UK resistant. |
| Finance Act 2024 | Royal Assent 22 February 2024 with effect from 6 April 2024 | Replaces Lifetime Allowance with new Lump Sum Allowance and Lump Sum and Death Benefit Allowance. Click here for the article in Part 4 of June 2024 Pensions Compass. |
| Pensions (Extension of automatic Enrolment) (No 2) Act 2023 | Royal Assent 18 September 2023 | Regulations awaited. |
| Forthcoming Regulations (including Expected Regulations) | |||
| Regulated Activities Amendment Order | Enabling providers to give targeted support to consumers on investments and pensions. Regulations come into force on 6 April 2026. | ||
| Collective Defined Contribution (CDC) Regulations for schemes with unconnected employers | The DWP consultation closed on 19 November 2024. The draft CDC Regulations were laid before Parliament on 27 October 2027 and are expected to come into force on 31 July 2026. | ||
| GMP Conversion Regulations | Consultation on draft Regulations still awaited | See above under Conversion of GMPs Act | |
| Notifiable Events Amendment Regulations | Timing unknown | Additional Events to be notified to TPR and to scheme trustees (change in control of an employer, sale of material proportion of business or assets and/or granting of certain security rights). DWP’s Consultation on these proposed controversial Regulations closed on 27 October 2021 and DWP’s Response is awaited.
Click here to listen to our December 2021 Podcast. |
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| Extension of Automatic Enrolment Regulations
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Timing uncertain
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See above under Pensions (Extension of Automatic Enrolment) (No. 2) Act 2023 | |
| Transitional Regulations relating to the change in Normal Minimum Pension Age (NMPA) from age 55 to age 57 on 6 April 2028 |
Consultation on draft Regulations awaited |
Important Regulations to ensure the change in NMPA works fairly. | |
| Recent Regulations | |||
| DB Schemes Code of Practice, Commencement Order | Made 11 November 2024 and appointed 12 November 2024 as the date for the guidance take effect. | Practical guidance on the new DB funding regime. | |
| DB schemes – Funding and Investment Strategy Amendment Regulations 2024 | Laid in Parliament 29 January 2024 and came into force 6 April 2024 | Regulations reflect significant amendments to the Pensions Act 2004 scheme specific funding regime by Pension Schemes Act 2021.
Click here for the article in March 2024 Pensions Compass. On 29 July 2024 TPR’s revised Funding Code of Practice was laid in Parliament and came into force on 12 November 2024, see above. Click here for the article in Part 2 of October 2024 Pensions Compass. |
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| Retained EU Law Regulations | Made on 17 September 2024 and came into force on 18 September 2024 | The provisions enabling the UK courts to depart from retained EU case law more easily are revoked whilst the present government considers its position | |
| Further Regulations re Abolition of Lifetime Allowance | 6 April 2024 | Further detailed tidying-up Regulations came into force on 18 November 2024, with effect from 6 April 2024 | |
| Regulations relating to Abolition of Lifetime Allowance Charge | 6 April 2024 | These Regulations made numerous changes to Finance Act 2024.
Click here for the article in Part 4 of June 2024 Pensions Compass. |
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| Authorised Surplus Payments Charge (Variation Rate) Order 2024 | 6 April 2024 | Reduces the amount of tax due on authorised surplus repayment from 35% to 25%.
Click here for the article in Part 1 of December 2023 Pensions Compass. |
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| Regulated Activities Amendment Order – Operators of pensions dashboards | 11 March 2024 | The Order authorises the Financial Conduct Authority to regulate commercial operators of pensions dashboards.
Such operators must either be or become authorised by the FCA. |
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| Pensions Dashboards Amendment Regulations 2023 | 9 August 2023 | The 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 this Pensions Compass. |
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| FROM THE COURTS | RECENT DECISIONS |
| 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. |
| Interpreting amendment power
3i plc v Decesare High Court 21 November 2025 |
The High Court decided 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. |
| 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. |
| 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. |
| 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. |
| Meaning of SPA (State Pension Age) in scheme rules
Spirit (Legacy) Pension Trustees Limited v Alexis High Court 1 September 2025 |
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 this Pensions Compass. |
| 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. |
| TPR Contribution notice upheld 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. |
| Creditor’s rights against SIPP benefits
Century Property v Aldiss High Court 24 June 2025 |
High Court ordered judgment could be enforced against SIPP benefits. (Not possible where occupational pension scheme – see Manolete Partners v White, below). |
| 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. |
| Equality Act 2010
For Women Scotland Ltd v Scottish Ministers Supreme Court 16 April 2025 |
Supreme Court decides that references to ‘man’ ‘woman’ and ‘sex’ in the Equality Act 2010 and key provisions in Gender Recognition Act 2004 refer to biological sex, not ‘certificated sex’ of an individual under a gender recognition certificate. |
| Scheme sanction charges (Finance Act 2004)
Morgan Lloyed Trustees v Revenue and Customs Commissioners Upper Tribunal 25 March 2025 |
The Upper Tribunal upheld most of the tax charges against the scheme administrators in respect of unauthorised payments made to the sponsoring employers (purchase of intellectual property rights for inadequate value). The Upper Tribunal decision also ruled on time limits and the conditions on which scheme administrators can be discharged from liability for scheme sanction charges. |
| Limitation – continuing duty not upheld
Philips v National Grid Gas High Court 24 March 2025 |
Although the court held there was no continuing duty, it decided that the action could continue due to the employer’s failure to obtain a promised further medical opinion. |
| 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. |
| Creditor’s right to enforce pension drawdown dismissed Manolete Partners PLC v White Court of Appeal 15 November 2024 |
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. |
| Rectification:
Ballard v Buzzard High Court 4 November 2024 |
The High Court accepted that a signature on behalf of the employer to a rule change could in the circumstances be accepted as also being a trustee’s signature |
| 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. |
| Validity of amendments in absence of section 37 actuarial written confirmation
Virgin Media v NTL Pensions 25 July 2024 |
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. Now also see the Government’s “Virgin Media” amendments to the Pension Schemes Bill, amendments tabled in Parliament 1 September 2025. Also click here for the article in Part 1 of this Pensions Compass on the Government’s “Virgin Media” amendments to the Pension Schemes Bill, amendments tabled in Parliament 1 September 2025. |
| Employer’s appeal about alteration powers
BBC v BBC Pension Trust & Another 9 July 2024 |
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. |
| 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 underpin.
Click here for the article in Part 5 of March 2024 Pensions Compass. |
| 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 |
| 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. It is expected the High Court may also rule on ancillary questions arising from the Court of Appeal’s Virgin Media decision, see above. Due to the complexity and amount at stake, judgment is not expected until Spring 2025 at the earliest. |
| 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. |
| Value of Investments
Legal and General Assurance and Others v Glencore PLC High Court 2025 |
Following Glencore admitting in the US courts various violations, L&G and 4 of its funds have lodged a Part 7 claim against Glencore we understand judgment has been given but has not yet been released. |
| PENSIONS OMBUDSMAN | RECENT DECISIONS |
| Incorrect distribution of scheme death benefits
Mrs R – Wellcome Trust Pension Plan 18 March 2025 |
The PO decided the scheme trustees had not made sufficient appropriate enquiries about who was financially dependent on the deceased member. Matter remitted back to the scheme trustees to decide again. |
| Duty to properly investigate potential death benefit beneficiaries
Ms N – Reassure Personal Pension Plan 25 September 2025 |
A salutory 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. |
| Suspension of spouse’s pension
MSE – NHS pension Scheme 16 July 2025 |
PO dismissed widow’s complaint that the suspension conflicted with her rights under the European Convention on Human Rights, incorporated into UK law by the Human Rights Act 1998. |
| Recovery of overpayments by recoupment from future pension payments
Mr and Mrs D and Trustees of BIC UK Pension Scheme 20 June 2025 |
The PO decided it was inequitable for the scheme trustees to recover the lion’s share of the overpayments. Paragraphs 41 to 55 of the PO’s decision gives guidance on the PO’s general approach to recovery of overpayments. |
| Complainants must act in good faith
Mrs N – Teachers Pensions Scheme 5 September 2025 |
The Pensions Ombudsman dismissed the member’s complaint. The initial pension statement was expressively stated to be an ”interim award’ and that the scheme was awaiting employer confirmation. |
| PPF | |
| PPF Levy Rules for 2025/2026 | In January 2025 the PPF finalised and issued the PPF Levy Rules for the PPF year starting 1 April 2025 |
| PPF Levy changes | DWP has considered changes to the PPF legislation e.g. to enable ‘nil’ PPF levies if appropriate. Relevant provisions are included in the Pension Schemes Bill published on 5 June 2025.
Click here for the article in Part 4 of July 2025 Pensions Compass. On 11 September 2025 the government announced provisions to abolish the PPF Administration Levy would be included in the Pension Schemes Bill. On 23 September 2025 the PFF announced they would not be charging a PPF levy for 2025/2026. |
| PPF Levy Rules for 2026/2027 | The PPF’s Consultation closed on 5th January 2026. The PPF proposes a zero conventional levy for 2026/2027 dependent on passage of the Pension Schemes Bill. |
| DWP | |
| Consultation on Retirement CDC schemes | 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. |
| Trust – based pension schemes: Consultation on strengthening Trustee boards and Governance | On 15 December 2025 DWP published its Consultation. This is prompted by the likely emergence of new types of schemes in the next few years, scheme consolidation, and other changes in the pensions landscape such as the government’s promise to produce Guidance on fiduciary duty in the context of wider factors including systemic risk (such as climate change). The Consultation closes on 6 March 2025. |
| Government Pensions Investment Review | On 29 May 2025 DWP published their Report, recommending changes to be included in the Pension Schemes Bill. See the articles in July 2025 Pensions Compass. |
| Small Pots Delivery Group Report | On 24 April 2025 the group report was released, setting out plans and a timetable for consultation re consolidation of small deferred DC pots. Provisions are included in the Pension Schemes Bill – see the article in Part 3 of July 2025 Pensions Compass. |
| Treasury | |
| DB Surplus | See the provisions in the Pension Schemes Bill.
Click here for the article in Part 2 of July 2025 Pensions Compass. |
| Government Pensions Review (Mansion House Reforms) | Part 1 of the Pensions Review was published on 29 May 2025, see above under Pensions Investment Review.
Part 2 of the Pensions Review started in July 2025 including the announcement of a new Pensions Commission. |
| TPR | |
| 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 closes on 8 March 2026.
The government will consider the responses in connection with regulations under the Pension Schemes Bill. For contract – based schemes the FCA will amend the FCA’s handbook. |
| 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. |
| 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.” |
| 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. |
| 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 |
| 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. |
| 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 | |
| Revised proposals imposing IHT in Finance (No2) Bill published 4 December 2025 | Click here for the article in Part 4 of December 2024 Pensions Compass on the proposed imposition of inheritance tax on unused pension and death benefits from 6 April 2027 and here for the article in Part 3 of October 2025 Pensions Compass on HMRC’s revised IHT proposals and the draft legislation issued in July 2025 (Technical Consultation closed on 15 September 2025).
Finance (No 2) Bill reflects significant changes including a more level-playing field between personal representatives, scheme trustees and pension beneficiaries. However, much uncertainty and complexity remains – Click here the article in Part 5 of this Pensions Compass. |
| Modernising and mandating tax adviser registration | On 30 October 2024 the government announced funding to modernise HMRC Tax Registration services and will require registration of tax advisers who interact with HMRC on behalf of clients from May 2026 onwards. Finance (No 2) Bill contains modified registration requirements. |
| Lump Sum Allowance and Lump Sum and Death Benefit Allowance (replacing the Lifetime Allowance from 6 April 2024)
HMRC Guidance Newsletters and HMRCs revision of its Pensions Tax Manual |
Click here for the article in Part 1 of March 2024 Pensions Compass and here for the Update article in Part 4 of June 2024 Pensions Compass.
In its Newsletter 163 published on 24 October 2024 HMRC confirmed that further corrective Regulations have been made – see under PARLIAMENT “Recent Regulations” in this Pensions Compass. Yet further corrective Regulations may be made in due course.
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| PENSIONS DASHBOARDS | |
| 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 Part 4 of this Pensions Compass. The first schemes have met their April 2025 staging dates. 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. |
| Voluntary Connection | Guidance July 2025 |
| Data Protection Impact Assessment | Issued by the Pensions Dashboard Programme, June 2025. This includes descriptions of how systems will work in practice. |
| PASA’s Toolkit for AVCs | Guidance from PASA re practicalities of connecting to dashboards re AVCs. |
| Pensions Dashboards Programme (PDP) – Technical Standards | In September 2024 the PDP issued Technical Standards containing mandatory requirements for the interaction of parties and their interaction with the PDP’s central digital architecture.
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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. |
| PDP on 19 November 2024 | Publications of following draft versions:
– version 1.2 of reporting standards – version 1.3 of data standards; and – version 1.2 of code of connection (how pension providers and schemes are to connect and remain connected to dashboards). These standards have now been approved by the Secretary of State for Work and Pensions. |
| TPR – Updated Checklist for trustees | On 12 April 2024, TPR reissued its Checklist for schemes preparing for Pensions Dashboards.
On 28 January 2026 the PDP (Pensions Dashboard Programme) consulted on revised reporting standards. The Consultation closes on 28 March 2026. The existing reporting standard applies until the revised reporting standard is approved. |
| Institute of Chartered Accountants for England and Wales
(” ICAEW”) |
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| ICAEW Guidance to employers and their auditors re ‘Virgin Media’
High Court Decision 25 July 2024 |
On 13 February 2025 the ICAEW issued guidance to sponsoring employers and their auditors on the impact of the Virgin Media decision on employers’ accounts and audit reports. On 2 April 2025 Pensions Research Accountants Group (PRAG) issued a discussion paper on the impact of the Virgin Media decision on scheme accounts. Both initiatives need rethinking following the Virgin Media remediation provisions included in the Pension Schemes Bill on 1 September 2025 as subsequently amended. |
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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