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ARTICLE · 26 MAY 2026

What's Happening In Pensions - Issue 122

Travers Smith LLP
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This comprehensive pensions update examines the landmark Pension Schemes Act 2026, new inheritance tax treatment for pension funds, changes to minimum pension ages, and critical regulatory developments affecting trustees and scheme administrators. The issue covers everything from the government's salary sacrifice proposals to the approaching Pensions Dashboard deadline, providing essential guidance on compliance requirements and emerging policy changes.

United KingdomEmployment and HR
David James
David James
Daniel Gerring
Daniel Gerring
Niamh Hamlyn
Niamh Hamlyn
Chris Widdison
Chris Widdison
Catrin Young
Catrin Young
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In this issue:

Pension Schemes Act 2026 enacted: The Pension Schemes Act 2026 received Royal Assent on 29 April 2026, having been through four rounds of parliamentary "ping pong". The final points of disagreement related to the scale requirement, the long-term sustainability of unfunded public service schemes and the mandation clause. There is a lot for the industry to do in the coming months and years and we look forward to the challenge.

Inheritance tax on pensions: HMRC has published a helpful technical note giving more information on how unused pension funds and death benefits will be treated for inheritance tax purposes for deaths on or after 6 April 2027. The note also sets out what HMRC expected to be included in the information sharing regulations and confirms an indicative timetable for next steps.

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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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