Pensions Compass – February 2026

Like a Spring garden, pension developments are growing apace: the Pension Schemes Bill is moving rapidly through Parliament and Royal Assent may be in March /April. Many of the provisions (but not all, see our Virgin Media article below) will apply only when the underlying Regulations are drafted, consulted on, finalised and made, a process during 2026 and 2027.

Meanwhile, other milestones loom: for instance, the statutory deadline for schemes’ Dashboard connection is 31 October 2026, see our Dashboards’ update article.

Subject to Finance (No 2) Bill receiving Royal Assent, Inheritance Tax will be imposed on unused pension pots and certain death benefits for deaths on or after 6 April 2027. As our article on Inheritance Tax flags, underlying Regulations specifying how personal representatives, scheme trustees and death benefit beneficiaries are to co-operate are awaited.

Pension case law – significant decisions in the last few months and more to come, please see our Ready Reckoner.

Do contact your usual Team member with any queries on our articles.

In this issue

Part 1 – Virgin Media update – Justin McGilloway and Alice Anderson update you.

Part 2  – Landed estates and enhanced employer contributions – a joint article by the WB Pension and Real Estate Teams together with input from actuarial practice, First Actuarial.

Part 3 – Buy ins, buy outs and surplus – James Newcome examines this “fizzy” High Court decision on the Coca Cola scheme.

Part 4 – Pensions dashboard update – a dash to the finishing line? James Newcome and Alice Anderson report.

Part 5 – Tax round up – responsibility for Inheritance Tax? Clive Weber considers HMRC’s latest thinking and other tax developments.

Part 6 – Ready Reckoner – highlights from Parliament, Courts, Pension Ombudsman, and Regulators.

Any queries, please be in touch with your usual Pensions team contact.

Find pensions terminology confusing? Go to our glossary here.

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.

Meet the team:

1. 

   • Clive Weber

   • Consultant
   • Pensions & Employee Benefits

   Visit Clive's profile
2. 

   • Justin McGilloway

   • Partner
   • Pensions & Employee Benefits

   Visit Justin's profile

View the whole team