The Pensions Ombudsman

What are the powers of the Pensions Ombudsman and when should he be used?

The Pensions Ombudsman is a free, impartial forum set up to determine complaints or disputes of fact or law. As a result of the transfer of The Pensions Advisory Service’s dispute resolution function to the Pension Ombudsman with effect from 19 March 2018, the Pensions Ombudsman now offers an informal resolution service (led by its Resolution Team) as well as an adjudication service. Our material explores mainly the workings of the Pensions Ombudsman’s adjudication service.

Completion of a scheme's internal dispute resolution procedure is usually required before an eligible member can file a formal application under the Pensions Ombudsman's adjudication service. Applications must fall within the Ombudsman's jurisdiction and be within three years of the date of the offending act or omission which is the subject of the application. Exceptions to the three year time limit can be made.

The caseworker can request more information from the parties and, where appropriate, the Ombudsman can hold oral hearings, although this is rarely used in practice. After

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DWP to evaluate pension scheme climate disclosure regime as part of government’s modernisation of climate disclosure and transition planning in UK financial markets

As part of its efforts to modernise the UK’s sustainability reporting framework, the government has introduced three consultations intended to “unlock billions in clean energy investment”. In doing so, the government is consulting on how to implement its manifesto commitment to mandate UK-regulated financial institutions (including banks, asset managers, pension funds and insurers),  as well as FTSE 100 companies,  to develop and implement credible transition plans that align with the 1.5C goal of the Paris Agreement. The government sees transition planning as a vital part of its commitment to secure the UK’s position as the green finance capital of the world. Notably, one consultation from the Department for Energy Security and Net Zero, seeks views on how the government should implement this commitment by ensuring an orderly transition aligned with global climate goals, aiming to enhance transparency to facilitate efficient capital allocation, enabling companies to seize opportunities from the global net zero transition, and bolstering the growth and international competitiveness of the UK’s financial services industry.  In particular, the consultation from the Department for Energy Security and Net Zero indicates that during 2025, the Department for Work and Pensions (DWP) will conduct a review of the Occupational Pension Schemes (Climate Change, Governance and Reporting) Regulations 2021, SI 2021/839, utilising evidence provided by the Pensions Regulator (TPR). The DWP regards this review as a logical starting point to assess the effects of the current climate disclosure regime (put in place following the recommendations from the Taskforce on Climate-Related Financial Disclosures (TCFD)) and to consider future steps for climate change reporting. In parallel with the TCFD review, the DWP has tasked TPR with evaluating the feasibility of transition plans within pension schemes. Accordingly, TPR is organising an industry working group, including key stakeholders and major occupational pension schemes, and is set to deliver its findings to the DWP later in 2025.

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