Jurisdiction(s):
United Kingdom

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Key definition

Adoption definition

What does Adoption mean? Adoption is the court process by which an adult or couple becomes a child’s legal parent(s), permanently replacing the legal status of the birth parent(s). When an adoption order is made, parental responsibility (England & Wales and Northern Ireland) or parental responsibilities and rights (Scotland) transfers in full to the adopter(s); the birth parents’ legal rights and duties are extinguished, subject to any contact the court may authorise. The child is treated in law as the child of the adopter(s) for all purposes, including name, birth registration and inheritance. The law is statutory in each jurisdiction (for example, the...

UK Occupational Pension Schemes: Annual Reporting and Accounts—Legal Requirements, SORP 2018/2026 and FRS 102, TCFD and SIP/Implementation Statements, Audit, Trustees’ Reports, and PPF/FAS Alternatives

Published by a LexisNexis Pensions expert

Practice notes

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STOP PRESS :

The Pensions Research Accountants Group (PRAG) has released the Statement of Recommended Practice, Financial Reports of Pension Schemes 2026 (SORP) following broad pre-consultations with stakeholder groups and a thorough review of feedback to the formal consultation, which closed in Q4 2025. SORP 2026 applies to accounting periods starting on or after 1 January 2026. The SORP was last overhauled in 2018, and the latest amendments ensure alignment with Financial reporting Standard 102 and current pensions legislation and regulations. Consultation respondents largely endorsed the proposed changes in the three principal areas—fair value determination, investment risk disclosures and sole investor pooled arrangements—considering them appropriate and proportionate.

This Practice Note is being updated to reflect these changes. THIS PRACTICE NOTE APPLIES TO UK OCCUPATIONAL PENSION SCHEMES

This Practice Note on pension scheme annual reports and accounts is based on:

the latest Financial Reports of Pension Schemes: A Statement of Recommended Practice (2018) (SORP 2018) issued in March 2018 by PRAG...

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Stephen Leah

Barnett Waddingham LLP

Stephen Leah joined the Barnett Waddingham Leeds Administration Team in March 2001.Stephen has over thirty years pension administration experience gained with large in house pension schemes and pension consultants, with experience in all aspects of pension administration, accounting and payroll procedures. Stephen is currently a Senior Pension Fund Accountant and is responsible for the co-ordination, preparation and checking of Trustees Reports and Accounts.Stephen is a member of the firms Pension Scheme Accounts Committee, is a member of the Pension Research Accountants Group (PRAG) and contributes to the PRAG SORP Third Party Administration Working Party....

Web page updated on 21/05/2026

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