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ARTICLE · 24 JUNE 2026

What's Happening In Pensions - Issue 123

Travers Smith LLP
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This comprehensive pensions update examines critical regulatory developments affecting UK pension schemes, from the anticipated surplus release framework coming in 2027 to emerging AI governance expectations. The bulletin covers major consultations on transfer regulations, VAT recovery changes, and flexible apportionment arrangements, while analyzing recent Ombudsman determinations on forfeiture clauses and overpayment recovery periods.

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:

Surplus release expected to be available from April 2027: The Government has launched the widely anticipated consultation on the draft regulations that set out the conditions defined benefit schemes will need to meet before a surplus payment can be made to a sponsoring employer from an ongoing scheme. The regulations are expected to come into force on 6 April 2027.

Pensions Commission issues interim report: On 19 May 2026, the second Pensions Commission published its interim report. It contains no recommendations but sets out the evidence gathered so far and the main areas the Commission will examine further before finalising its report in Spring 2027.

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