AWE meaning

In this issue: Pension Schemes Bill The Pensions Regulator Financial Conduct Authority Daily and weekly news alerts Dates for your diary Trackers Pension Schemes Bill Bill amendments agreed in Report Stage of the House of Lords On 16, 19 and 23 March 2026, notable changes (including non-government proposals) were agreed to the Pension Schemes Bill, most prominently scrapping the reserve power to dictate how certain schemes invest their assets, whilst preserving the broader framework on scheme scale. The Lords also set out a fresh regulatory exemption from scale obligations, permitting schemes to forgo consolidation where it would not enhance member outcomes, together with new duties on the government to factor in innovation and competition when drafting regulations. Other agreed amendments include: confirming that the guided retirement duty extends to deferred members as well as active members and pensioners adding a new chapter to the PSB on the Atomic Weapons Establishment (AWE) Pension...

In this issue: Pension Schemes Bill Salary sacrifice Collective defined contribution schemes Daily and weekly news alerts Dates for your diary Trackers Pension Schemes Bill Day 7 Grand Committee: indexation reforms approved, AWE proposal withdrawn By the close of the seventh sitting of the House of Lords Grand Committee on the Pension Schemes Bill, held on 5 February 2026, the government had won the House’s consent to its complete suite of technical changes on pre-1997 indexation for the Pension Protection Fund (PPF) and the Financial Assistance Scheme (FAS). Nevertheless, its principal structural amendment to create a new public sector AWE pension arrangement was withdrawn following concerns raised in debate, and no substitute amendment was tabled that day. The Grand Committee is next due to meet on 23 February 2026 and 3 March 2026 to scrutinise the remaining elements of the Pension Schemes Bill. Indexation of Pension Protection Fund compensation for pre-1997 service (Clauses 108-110) Clause 108...