This page focuses on developments that will mainly affect and be of interest to corporate sponsors of pension schemes.

Pensions Hub

Association of Consulting Actuaries publishes policy paper on DB surplus flexibility

Association of Consulting Actuaries publishes policy paper on DB surplus flexibility

A policy paper from the Association of Consulting Actuaries, Unlocking DB Pension Scheme Surplus, sets its recommendations for new legislation and supporting guidance to cover. This follows the announcement by the Chancellor in January 2025 that the government intends to lift restrictions on how well-funded DB schemes may release surplus funds.

United Kingdom | Publication | March 13, 2025
Government makes plans for DB scheme surplus extraction

Government makes plans for DB scheme surplus extraction

The Government has confirmed in a press release that new rules will be introduced giving more flexibility to how occupational DB pension schemes are able to invest surplus funds.

United Kingdom | Publication | February 14, 2025
PPF publishes PPF Levy for 2025/26 and DWP publishes levy ceiling Order

PPF publishes PPF Levy for 2025/26 and DWP publishes levy ceiling Order

On January 30, 2025, the PPF published its levy determination and rules for the 2025/26 financial year, following a consultation in Autumn 2024 on technical changes to allow it to maintain a minimum levy of £100 million.

United Kingdom | Publication | February 14, 2025
UK Pensions Briefing | Pensions Regulator publishes updated employer covenant guidance: Key messages

UK Pensions Briefing | Pensions Regulator publishes updated employer covenant guidance: Key messages

The Regulator has published the final part of the new funding regime framework: updated employer covenant guidance for trustees of defined benefit (DB) pension schemes, calling it “the last piece of the jigsaw to help schemes carry out valuations under the new DB funding code”.

United Kingdom | Publication | February 06, 2025
Prudential Regulation Authority sets out expectations for insurers to manage increased growth and complexity in bulk annuity purchase market

Prudential Regulation Authority sets out expectations for insurers to manage increased growth and complexity in bulk annuity purchase market

The high demand in recent years for DB pension scheme risk transfer solutions means there has been rapid growth in the bulk annuity purchase market across the UK life sector.

United Kingdom | Publication | January 28, 2025
Auto-enrolment earnings trigger and qualifying earnings band: No change for 2025/26

Auto-enrolment earnings trigger and qualifying earnings band: No change for 2025/26

On January 21, 2025, the Department for Work and Pensions published an analysis paper supporting the conclusions of the annual review of the auto-enrolment thresholds as above.

United Kingdom | Publication | January 28, 2025
Virgin Media case: Further joint statement issued by industry working group

Virgin Media case: Further joint statement issued by industry working group

On December 17, 2024, a further joint statement was published about the potential impact of the Court of Appeal decision in the Virgin Media case which stated that certain contracted-out pension rights encompassed those relating to future service as well as past service.

United Kingdom | Publication | January 14, 2025
Pensions Regulator releases report on occupational DB landscape in UK for 2024

Pensions Regulator releases report on occupational DB landscape in UK for 2024

The Regulator has published its annual statistics report on the occupational DB landscape for 2024, which sets out a summary of the UK’s DB and hybrid scheme environment, detailing scheme status, membership numbers and assets under management.

United Kingdom | Publication | December 19, 2024
PPF confirms final 2025/26 levy determination to be published January 2025

PPF confirms final 2025/26 levy determination to be published January 2025

The Pension Protection Fund has confirmed that it is delaying the finalisation of the 2025/26 levy determination until the end of January 2025 to provide greater flexibility in setting the levy amount.

United Kingdom | Publication | December 19, 2024


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