Powered by Lexis+®
Jurisdiction(s):
United Kingdom

DWP consultation: reforming trust-based pensions with trustee accreditation and directory, professional corporate sole trustee standards, administrator regulation, DC consolidation, productive investment, value for money, and a public trustee option

Published on: 13 January 2026

Published by a LexisNexis Pensions expert
Legal News
imgtext
Article summary

What problem is the government diagnosing with the current trusteeship and governance model? What is the government really trying to achieve with this consultation?

The pensions landscape is shifting. Change is already evident through the rise of master trusts and the growing tendency for schemes to appoint professional trustees, including professional corporate sole trustees. Further major reforms are expected under the Pension Schemes Bill, paving the way for defined contribution (DC) megafunds and giving trustees expanded duties and powers: conducting value for money assessments, offering guided retirement solutions within DC arrangements, permitting payment of surplus to employers, and facilitating transfers to defined benefit (DB) superfunds for DB schemes. Alongside this, the government seeks to widen the range of scheme investments and to boost allocation to UK productive assets. However, consolidation of DC schemes and the spread of professional corporate sole trusteeships (PCSTs) present new issues, notably a diminished ‘member voice’ at trustee board level and perceived conflicts of interest around trustees’ selection of service providers...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Popular documents

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Read More Right Arrow

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Read More Right Arrow

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Read More Right Arrow

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...

Read More Right Arrow