Clifford Chance

UK Pensions Update: June 2025

5 June 2025

Welcome to the June 2025 edition of the UK Pensions Update: 5 in 5

Welcome to our newsletter: "UK Pensions Update: 5 in 5" where we deliver to you what you really need to know about the 5 key developments in UK pensions that have occurred in the last quarter – digestible within 5 minutes!

In breaking news, the new Pension Schemes Bill was laid before Parliament today, together with a roadmap describing how the various changes fit together. In this edition, we focus on the key themes of reform and cover:

1.  Reforms around access to DB scheme surpluses
2. The government's pensions investment review report and proposals for DC consolidation
3. Other key measures included in the Bill
4. The Pensions Regulator's final statement of strategy consultation response
5. HMRC's research report on using salary sacrifice for pension contributions

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