Pensions Weekly Update – 31 March 2026

Here is our weekly summary of key legal and regulatory developments relevant to occupational pension schemes that you might have missed, with links for further information.

• The Pension Schemes Bill has had its third reading in the House of Lords. A few drafting amendments were made to the bill during its third reading, but otherwise the significant amendments are those that we noted in part one of last week's update. Possibly the most significant amendment made by the House of Lords has been the removal of the government’s power to mandate the way in which pension trustees invest defined contribution (DC) pension funds. It has been widely reported in the press that the government proposes countering opposition to mandation by introducing caps that would reflect the voluntary agreement reached under the Mansion House Accord (being a minimum 10% allocation to private markets across all main default funds in DC schemes by 2030, with at least 5% of the total going to UK private