DB pensions reform roadmap transcript
This roadmap shows planned pensions reform activity from April 2026 to 2030. The roadmap is laid out as a grid with time running horizontally across the top and the three pensions reform workstreams listed vertically down the left side.
Royal Assent received: April 2026.
Date key:
- Half 1 – January to June
- Half 2 – July to December
Please note: The duration of the consultations can vary.
Glossary:
- TPR: The Pensions Regulator
- FCA: The Financial Conduct Authority
- DWP: The Department of Work and Pensions
1. DB surplus
2026
End of half 1 / start of half 2:
- DWP regulations and FCA rules consultation.
Half 2:
- TPR guidance consultation.
2027
Half 1:
- DWP regulations come into force.
- Final TPR guidance published.
- Surplus duties come into effect.
2. Superfunds
2027
Half 1:
- DWP regulations consultation.
2028
Half 1:
- TPR code consultation.
Half 2:
- DWP regulations come into force.
- TPR final code published.
- TPR open to superfund applications.
3. Local Government Pension Schemes (LGPS)
2026
Half 1
- Investment management and governance duties take effect.
- DWP Final guidance published.
Half 2
- DWP regulations come into force.
- First Independent Governance Reviews (IGRs) expected.