Welcome to our latest update, in which we cover: Inheritance tax and pensions: revised policy Pensions Commission and State Pension age review Pensioner poverty: results of inquiry Pensions dashboards: clearing “data debts”...more
Welcome to our monthly update on current legal issues for trustees of DC pension schemes, designed to help you stay up to date with key developments between trustee meetings and to support the legal update item on your next...more
Welcome to our monthly update on current legal issues for trustees of DB and hybrid pension schemes, designed to help you stay up to date with key developments between trustee meetings and to support the legal update item on...more
Mansion House 2025 - On 15 July 2025, the Chancellor gave her Mansion House speech and set out her Leeds Reforms, including launching the Financial Services Growth and Competitiveness Strategy....more
Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. Pension Schemes Bill call for evidence - The House of Commons...more
Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. FCA consultation on targeted support: relevance to...more
A bite-sized summary of recent UK pension news. Welcome to our latest update, in which we cover: HMRC announce change to VAT policy HMRC have announced a change to VAT policy to allow employers to recover up to 100% of VAT...more
The Prudential Regulation Authority ("PRA") has issued a letter, dated 4 July 2025, to Chief Risk Officers of life insurers active in the bulk purchase annuity ("BPA") market. The letter focusses on the use of so-called...more
AT A GLANCE - The government will make release of surplus from ongoing defined benefit (DB) pension schemes easier....more
A scheme has been ordered to pay over GBP50,000 by the Pensions Ombudsman (TPO) for failure to pay lump sum death benefits within a two-year window set out in the scheme’s rules: CAS-66581-S4T8. The rules provided that...more
We run a comprehensive programme of pension training for clients and their advisers, including training for new pension trustees, training for experienced trustees and regular morning seminars reviewing legal developments in...more
The Pension Fund Clearing Obligation Exemption (Amendment) Regulations 2025 (SI 2025/670) have been published, alongside an explanatory memorandum. The regulations amend the UK version of Regulation 2012/648 (UK EMIR) and...more
Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. The Pensions Regulator (TPR) blog post: Industry next steps...more
Welcome to our latest update, in which we cover: The long-awaited Pension Schemes Bill was introduced in Parliament on 5 June 2025. Many of the provisions are no surprise, as they will give legal effect to proposals which...more
Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. Government to legislate to help with Virgin Media issues - The...more
The long-awaited Pension Schemes Bill has been laid before Parliament. Described by the government as a "game changer", it aims to increase members' pension pots and deliver a £50 billion investment into the UK economy. The...more
The Pensions Regulator (TPR) has published guidance for trustees on new models and options for DB and hybrid pension schemes. While some of these are endgame options, the guidance also covers options for improving financial...more
ISSUES AFFECTING ALL SCHEMES - MARKET VOLATILITY – PENSIONS REGULATOR REPORT - The Pensions Regulator (TPR) has published a market oversight report on market volatility and what trustees should do, which sets out how...more
The government has responded to the previous government's 2024 consultation on options in the DB context to provide better outcomes for members, drive a more consolidated market, and enable pension funds to invest in a...more
We have written about the opportunities for the managers of private funds, such as private equity, real estate, venture, and infrastructure managers, to increase the investor base for the funds they manage (funds) to include...more
The market for insured risk transfer solutions for UK defined benefit pension schemes has continued to grow in recent years, as increased competition among insurers and improved funding positions has enabled more and more...more