Here is our weekly summary of key legal and regulatory developments relevant to occupational pension schemes that you might have missed, with links for further information.
The Pension Schemes Bill is currently being scrutinised by a committee of the House of Lords. In the 12 January and 14 January sessions, the committee reviewed clauses 1 to 8 of the bill, which make provision in respect of the Local Government Pension Scheme (LGPS). Following lengthy debate and some division, those clauses were eventually agreed by the committee. A further committee hearing was held on 19 January, and two more are scheduled for 22 and 26 January. The committee will then report back to the House of Lords, when the bill will receive its third reading in the House of Lords. Following that, any amendments made by the House of Lords will be sent to the House of Commons to agree. The House of Commons will either agree to, amend or disagree with each amendment. This is known as the “ping pong” stage. If the two houses are unable to reach agreement on any particular amendment, the bill will fall away. However, it would be very unusual for the House of Lords to push back so much that the whole bill falls away. If the bill were to fall away, the government could use other legislation to push it through in the next session of Parliament (expected to be opened by the king in May 2026). Assuming the bill is eventually approved by both houses, the government seems to be aiming for royal assent during the first half of 2026.
In a written answer to a question tabled in Parliament, Torsten Bell, pensions minister, said that “further Pensions (Abolition of Lifetime Allowance Charge etc) Regulations will be made in Spring 2026 and will include updates to the treatment of scheme-specific lump sums for individuals with enhanced protection. The majority of the regulations will have retrospective effect from 6 April 2024 when the lifetime allowance was abolished.” The government’s public practice is to bring new regulations into force at the start of either April or October each year – the answer suggests April 2026 is likely for these further changes.
The Work and Pensions Committee has endorsed Emma Douglas for the role of chair of The Pensions Regulator (TPR) following a preappointment hearing. Emma Douglas is currently wealth policy director at Aviva. She has held a number of senior pensions roles and has been part of some high profile industry initiatives. Sarah Smart, the previous chair, stepped down last year.
The Society of Pension Professionals (SPP) has issued a guide on collective defined contribution (CDC) arrangements, described as “one of the most promising developments in the UK’s pension landscape”. The guide looks at the challenges facing single employer, multiemployer and retirement-only CDC schemes.
The Financial Conduct Authority has published its guidance on nonfinancial misconduct in financial services. There is some overlap with the new employment law framework introduced by the Employment Rights Act 2025. You can read more in this publication by our labour and employment colleagues.
If you would like specific advice on any of these issues or anything else, please contact a member of our Pensions team.
