Pensions law update: August 2026

PSA26 reforms

PSA26 handbook updates

We have updated our Pension Schemes Act 2026 handbook to reflect the latest developments and timetable changes, following the July publication of the updated workplace pensions roadmap.

The handbook now encompasses the most recent publications on surplus law changes, new LGPS regulations and statutory guidance and the latest on key DC changes (including the value for money consultation and policy papers for the scale requirements and guided retirement). With our handbook you have up to date information on the changes affecting your scheme at your fingertips.

An updated roadmap for reform

Following the DWP’s publication spree in July, Rachael Skuse outlines some key developments as the implementation phase of the reforms under the PSA26 picks up momentum.

Directors Jack Gillions and Andy Prater were delighted to sit down with Pensions Age magazine to discuss some of the key issues facing pension schemes during the current period of intensive reform – read their comments in this month’s edition (“Clearing a path” – page 56-58).

Policy round up

Second Pensions Commission interim report

The Interim Report published by the Second Pensions Commission is a comprehensive “state of the nation” analysis of the current UK pensions landscape. While the work of the Commission is continuing as it moves now to formulating its recommendations, there is a wealth of information in the Interim Report for us as an industry to consider.

In the first of two articles on the report, we’ve looked at what the Commission’s findings mean for employers:

Multiple employer CDC: applications open

On 31 July 2026, the regulations which will enable the establishment of collective defined contribution schemes for multiple unconnected employers came into force. This is a change that it is hoped will galvanise the new CDC market, since it will allow commercial providers to offer CDC arrangements for the first time.

Alongside the implementation of the regulations, TPR’s updated CDC Code of Practice has also come into force. TPR has published a number of new and updated guidance documents to support the revised Code and the new multiple employer CDC arrangements.

Applications for multiple employer CDC arrangements to seek authorisation from TPR are now being accepted.

Governance

Pension scheme cyber risk – a covenant issue?

How does cyber security and business continuity risk impact a pension scheme’s covenant? This is the topic Samantha Howell explores in our recent article, which looks at TPR’s approach to cyber security and covenant risk.