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United Kingdom

UK pensions update—13 November 2025: DB surplus arbiter, LGPS dashboards MoU, CDC Collective Drawdown, HMRC McCloud offsets, WASPI compensation retake

Published on: 13 November 2025

Published by a LexisNexis Pensions expert
Legal News
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Article summary

In this issue:

  • Surplus
  • Pensions dashboards
  • Collective defined contribution
  • Public sector pensions
  • State pension
  • Dates for your diary
  • Trackers

Surplus

WPC seeks DWP clarity on independent arbiter role in pension surplus disputes

The Department for Work and Pensions (DWP) has been pressed on whether it will establish an independent, formal arbitration mechanism to manage future clashes between employers and trustees over entitlement to an estimated £160bn of surplus within defined benefit (DB) pension schemes. In a letter released on 5 November 2025, the Parliamentary Work and Pensions Committee (WPC) wrote to the Minister for Pensions, Torsten Bell, to ask if the DWP has explored a clear route for settling disputes arising from its surplus extraction proposals. The government’s Pension Schemes Bill sets out plans for new legislation enabling employers to draw on surplus pension assets where scheme funds are substantially higher than the amounts required to cover existing liabilities...

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