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ARTICLE · 09 JULY 2025

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The Pensions Brief: July 2025

Mayer Brown
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The Pension Schemes Bill has been laid before Parliament. Its provisions include...

United KingdomEmployment and HR
Giles Bywater
Giles Bywater
Katherine Carter
Katherine Carter
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Issues affecting all schemes

Pension Schemes Bill – publication

The Pension Schemes Bill has been laid before Parliament. Its provisions include:

  • Changes to the DB surplus regime.
  • A new value for money (VFM) framework for trust-based DC schemes.
  • A system for the automatic consolidation of small DC pots.
  • Creation of DC "megafunds".
  • A requirement for DC schemes to offer a default retirement option.
  • An authorisation and supervision regime for DB superfunds.
  • Confirmation that the Pensions Ombudsman (TPO) can make enforceable determinations in pensions overpayment recoupment cases.
  • Removal of the restrictions that prevent the Pension Protection Fund (PPF) from reducing the PPF levy below £100 million.

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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