Pensions Minister announces Pensions Bill to be introduced “before summer recess”

In a speech given at the PLSA Investment Conference on March 11, 2025, Pensions Minister Torsten Bell announced the Government’s intended timeframe for the final report on its Pensions Investment Review and the introduction of the new Pensions Bill.

The Minister confirmed that report on the Government's Pensions Investment Review will be finalised in the coming weeks, with a new Pensions Bill to be introduced before the House of Commons' summer recess scheduled to start on July 22, 2025. 

The Minister also referenced the Government’s intention to include provisions in the upcoming Pensions Bill for legislation for a DB superfunds regime and for flexibilities relating the release of DB surplus. The Government’s response to the consultation on Options for DB Schemes (initiated under the previous Government) should be published this spring.

The speech also confirmed that the Government is considering allowing the Pension Protection Fund greater flexibility to reduce the pension schemes levy as required.