Clauses

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Lawyers work on a huge variety of transactions, but all of them will in some way involve written agreements. All of those agreements should contain some boilerplate clauses.

'Boilerplate' is the term used to describe the clauses that are included in an agreement to deal with the mechanics of how it works and those legal points that are relevant to most transactions. For further consideration of the role and importance of boilerplate clauses, see Practice Note: The role of boilerplate.

Boilerplate clauses are generally found at the beginning and the end of an agreement. Such clauses are often thought of as standard, miscellaneous provisions, but this is a very dangerous view to adopt. As a boilerplate clause will deal with issues such as the interpretation, validity and enforcement of an agreement, it can

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Latest Pensions News

Pensions weekly highlights—30 October 2025

This week's edition of Pensions weekly highlights includes a review of key news stories, as well as dates for your diary and trackers.

PPI publishes second report on retirement saving among low earners

The Pensions Policy Institute (PPI) has published the second report in its ‘From Payslip to Pension: Life Course Impacts on Retirement Saving Among Low Earners’ series. The report examines how the life courses of low earners interact with workplace pension savings and is published as the Pensions Commission examines pension adequacy. The series, funded by a grant from the Nuffield Foundation, will run until summer 2026 and comprise five individual reports in total.

FRC publishes guidance to support Stewardship Code reporting

The Financial Reporting Council (FRC) has published finalised guidance intended to support reporting under the UK Stewardship Code 2026.  The guidance, initially published in draft form in June 2025 alongside the updated Code, has been amended following stakeholder feedback received through a call for comments. The guidance is optional and non-prescriptive, providing suggestions on the types of information organisations may include in their reporting to explain their stewardship approach. It also offers suggestions for those managing asset classes beyond listed equity on how to report to the Principles of the Code. The guidance reflects the Code’s flexible approach, recognising that organisations vary in size, structure and investment strategy, and therefore apply stewardship in different ways.  Throughout 2026, the FRC intends to engage with signatories to support their transition to reporting under the updated Code.

FRC consults on AS TM1 with no significant amendments proposed

The Financial Reporting Council (FRC) has launched a consultation on the Actuarial Standard Technical Memorandum 1 (AS TM1), proposing no significant amendments to the standard. Following its annual review, the FRC proposes only a minor wording amendment relating to fund volatility calculation dates, intended to clarify policy intent. The review considered changes in market volatility and return expectations over 2025 and concluded that the current accumulation rate assumptions and volatility parameters in AS TM1 remain appropriate. The consultation closes on 1 December 2025, with the final outcome expected to be published by 15 February 2026.

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