Pensions updates | September 2026

Pension dashboards: Key deadline approaching for pension schemes

The pensions dashboards programme continues to progress ahead of the 31 October 2026 connection deadline. By that date, occupational pension schemes with 100 or more relevant members and FCA-regulated pension providers must be connected to the pensions dashboards ecosystem and be capable of responding to member information requests.

Employers should liaise with their pension providers and administrators now to ensure member data is accurate, helping to reduce the risk of employees being unable to locate their pension benefits when dashboards become available.

Defined benefit pension scheme surplus reforms: New regime expected from April 2027

The Government is continuing with its programme of reforms designed to make it easier for well-funded defined benefit (DB) pension schemes to release surplus funds to sponsoring employers and, in some circumstances, scheme members. Following the enactment of the Pension Schemes Act 2026, the Department for Work and Pensions has consulted on draft regulations that would introduce a new statutory framework for ongoing surplus extraction from DB schemes from 6 April 2027, subject to final approval.

Employers sponsoring well-funded DB schemes may wish to start discussions with trustees and advisers about how the new regime could affect their scheme. While member security will remain paramount, the reforms could provide greater flexibility to utilise surplus assets, support business investment and, where appropriate, deliver additional benefits to scheme members.