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United Kingdom

UK pensions weekly: Schemes Bill advances; TPR on LDI, governance and innovation; PPF levy set to zero; HMRC lifetime allowance/IHT; CDC and LGPS reforms

Published on: 25 September 2025

Published by a LexisNexis Pensions expert
Legal News
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Article summary

In this issue:

  • Pension Schemes Bill
  • The Pensions Regulator
  • The Pension Protection Fund
  • Taxation
  • Members and benefits
  • Public sector pensions
  • Dates for your diary
  • Trackers

Pension Schemes Bill

New version of Pension Schemes Bill published incorporating Public Bill Committee amendments

A refreshed iteration of the Pension Schemes Bill, reflecting changes made by the House of Commons Public Bill Committee, was released on 18 September 2025. Every government-backed amendment tabled during Committee Stage was approved and now appears in the updated text, including fresh clauses responding to the Virgin Media decision that permit retrospective confirmation of alterations that might otherwise be void. None of the non-government proposals succeeded, though the government indicated it will introduce amendments at a subsequent stage to remove the Pension Protection Fund administration levy (a proposal by John MIlne MP seeking this outcome was withdrawn as ‘unworkable’ in its current form). The Committee commenced its line-by-line consideration on 2 September 2025, concluded on 15 September 2025, and returned the Bill, as amended, to the...

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