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ARTICLE · 01 MAY 2026

The Pensions Brief: May 2026

Mayer Brown
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Trustees and employers should assess how the Act will affect their scheme and start preparations now. While the government's indicative timeline suggests that most of the reforms will not come into force immediately...

United KingdomEmployment and HR
Edward Jewitt
Edward Jewitt
Katherine Carter
Katherine Carter
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Issues Affecting All Schemes

Pension Schemes Act 2026

The Pension Schemes Act 2026 received Royal Assent on 29 April 2026. It provides for:

  • New powers for trustees to release surplus from ongoing DB schemes;
  • A remedy for potentially invalid past amendments to contracted-out rights (following the Virgin Media case);
  • An authorisation and supervision regime for DB superfunds;
  • A new DC value for money (VFM) framework;
  • Creation of DC "megafunds" by the imposition of scale (and potentially asset allocation) requirements for default arrangements in authorised DC master trusts and group personal pension schemes;
  • A system for automatic consolidation of small, deferred DC pots;
  • A requirement for DC schemes to offer default retirement solutions;

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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.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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