Weekly highlights

Weekly highlights

This subtopic contains weekly summaries of key news stories from the world of Pensions,

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Latest Pensions News

Data (Use and Access) Act 2025–What are the implications for Pensions?

Pensions analysis: The Data (Use and Access) Act 2025 (the ‘Act’) introduces a number of changes relevant to data protection requirements, with this article focusing on the key implications for pension schemes. The most significant change from a pensions perspective relates to data subject complaints, which will need to be responded to ‘without undue delay’–a timeframe that is expected to be shorter than a typical deadline under a scheme’s Internal Dispute Resolution Procedure (IDRP). This article was written by Burges Salmon’s Samantha Howell (director-Pensions & Cyber) and Amanda Leiu (senior associate–Data Protection and Technology).

TNFD publishes 2025 Status Report showing widespread uptake of nature-related reporting

The Taskforce on Nature-related Financial Disclosures (TNFD) has published its 2025 Status Report, reviewing two years of progress since the publication of its guidance and recommendations in 2023. The report reveals that 620 organisations across 50 countries, representing US$20trn in assets under management, have committed to adopting TNFD-aligned reporting. Drawing on data from Bloomberg, CDP, and other partners covering over 16,000 companies, the analysis shows that over 500 first- and second generation TNFD reports have now been published. Key findings include: (1) 78% of reporting companies have integrated climate and nature disclosures; (2) 77% of investors expressed interest in specific nature-related standards building on the TNFD framework; and (3) 64% of surveyed entities consider nature-related issues to be equally or more significant than climate-related issues.

FCA consults on Handbook changes for targeted support framework

The Financial Conduct Authority (FCA) has launched a consultation paper (CP25/26) proposing additional changes to its Handbook rules to implement its targeted support framework. The consultation follows CP25/17, which established a framework enabling firms to provide tailored suggestions to consumer groups with shared characteristics. Feedback is sought by 17 October 2025, with final rules expected in December 2025.

HMRC pension schemes newsletter 173 provides updates on LTA abolition and tax treatment of tax-free pension lump sums and cancellation rights

HMRC has published Pension schemes newsletter 173 (September 2025) to update stakeholders on the latest news for pension schemes. In particular, the newsletter provides an update on (i) the abolition of the lifetime allowance (LTA), and (ii) tax-free pension lump sums and cancellation rights. As part of its ongoing commitment to ensuring that legislation continues to function as effectively as intended, HMRC is preparing some further minor technical amendments to the LTA legislation. The changes are designed to clarify certain provisions, correct minor drafting inconsistencies and support smoother implementation without affecting the vast majority of pension savers. The regulations will be made in early 2026 to have retrospective effect from 6 April 2024. There may also be further minor changes following consultation with industry, which will take place later in 2025. Following requests for further detail, and in parallel with a separate statement by the Financial Conduct Authority (FCA), HMRC has also issued a statement setting out its position on the interactions between FCA cancellation rights and the tax treatment of tax-free lump sums paid back into a registered pension scheme.