Reforms to workplace pensions

Implementation date: To be confirmed

The Pension Schemes Bill will make wide-ranging reforms to workplace pensions.

The Bill, which was introduced to Parliament on 5 June 2025, will encourage the consolidation of defined contribution (DC) and defined benefits (DB) pension funds. It will also place obligations on trustees of occupational pension schemes to ensure that their retirement offerings include an "income solution" that offers more than a savings pot (that can be converted into a pension payment).  

It is not yet known when the Bill will come into force.