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ARTICLE · 04 NOVEMBER 2026

UK Pensions: What’s New This Week? October 26, 2026

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The Pensions Regulator expects trustees to understand and manage AI concentration risk in pension portfolios, while the Pension Protection Fund announces no levy for 2027/28 and introduces revised actuarial assumptions. New guidance addresses pensions dashboards implementation challenges including possible matches and daily reporting requirements.

United KingdomFinance and Banking
Neil Bowden
Neil Bowden
Andy Cork
Andy Cork
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Jane Higgins
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Jessica Kerslake
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Helen Powell
Angela Stafford
Angela Stafford
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Welcome to your weekly update from the A&O Shearman Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. 

Summary

  • TPR highlights AI concentration risk: TPR expects trustees to understand their scheme’s AI exposure and take steps to manage concentration risk.
  • No PPF levy for 2027/28: The PPF will not charge a levy on conventional DB schemes and will pause the Alternative Covenant Scheme levy for one year.
  • PPF valuation changes: Revised actuarial assumptions will apply to section 143 valuations from May 31, 2026 and to section 179 valuations with an effective date on or after November 30, 2026.
  • Dashboards guidance on partial matches and daily reporting: PASA provides guidance on dealing with possible matches and the PDP urges action on new daily reporting requirements.

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