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Latest Pensions News

Amendments to Pension Schemes Bill published including new Virgin Media remedy provisions

A full list of amendments to the Pension Schemes Bill (the Bill) has been published and currently being considered at the Public Bill Committee stage where the line by line reading of the Bill began on 2 September 2025. The amendments made to the Bill reflect a broad set of changes aimed at refining the Bill’s scope, clarifying responsibilities, and improving its operational mechanics. In total, over 240 amendments and 30 new clauses (NC1 to NC30) were tabled including provisions relating to the Court of Appeal’s decision in the Virgin Media case which are intended to form part of a new Chapter 1 in Part 4 to the Bill. Rosalind Connor of Temple Bright comments on the proposed amendments further below.

HM Treasury publishes policy note and draft regulations on reforming Money Laundering regime

HM Treasury (HMT) has published a policy note setting out proposed amendments to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), accompanied by the draft Money Laundering and Terrorist Financing (Amendment and Miscellaneous Provision) Regulations 2025. The policy note  proposes targeted amendments to the (MLRs 2017) to address regulatory gaps, enhance proportionality and emerging risks, including in cryptoasset regulation, pooled client accounts, and trust registration. Responses are sought by 30 September 2025, with final regulations expected to be laid before Parliament in early 2026.

Pension Schemes Bill: Government’s proposed amendments aim to fix fallout from Virgin Media ruling

Law360: The government has proposed new rules for former contracted-out salary related occupational pension schemes that experts say could offer a way out of the legal limbo they've faced since the Court of Appeal Virgin Media judgment in July 2024.

Pension Schemes Bill: Parliament urged to back new amendments on PPF and FAS pre-1997 indexation

Law360: Parliament has been urged to back amendments to the Pension Schemes Bill to extend indexation to pre-1997 pensionable service for members receiving compensation through the Pension Protection Fund (PPF) and the Financial Assistance Scheme (FAS).

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