Advanced Boiling Water Reactor: The latest design of one of the most common types of BWR. The UK ABWR is a generation III+ reactor being developed and offered by Hitachi GE Nuclear Energy as part of the Horizon project at Wylfa. For more information see http://www.hitachi-hgne-uk-abwr.co.uk/.

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Law360: The UK must act swiftly in developing a new regime to allow businesses to tap into well-funded pension plans to invest in themselves or the wider economy, the Association of Consulting Actuaries (ACA) urged on 6 May 2025.

The Association of Consulting Actuaries (ACA) has issued an update addressed to members of the ACA, the Association of Pension Lawyers (APL) and the Society of Pension Professionals (SPP) regarding Virgin Media Limited v NTL Pension Trustees II Limited ('Virginia Media'). A working group representing the ACA, the APL, and the SPP continues to engage with the Department for Work and Pensions (DWP) regarding the Court of Appeal's ruling in the Virgin Media matter. The working group is advocating for regulations that would, subject to appropriate safeguards, allow the validation retrospectively of any amendment that is held to be void solely because either a written actuarial confirmation was not received before the amendment was made, or where such a confirmation cannot be located. Discussions are ongoing regarding the potential form of such regulations, with the working group refining its approach based on these conversations. An update from the ACA on progress regarding the matter is anticipated in the new year.

The Association of Consulting Actuaries (ACA) has issued a letter to the Pensions Minister and the Economic Secretary following the announcement of a Pensions Bill at the State Opening of Parliament on 17 July 2024. The letter urges the ministers to consult with the pensions industry and take a holistic approach towards pensions legislation, especially given the link between pensions and the financial policies and taxation approaches pursued by the government. The ACA also urges the new government to progress existing pensions policies, including outstanding regulatory issues with the abolition of the lifetime allowance, expanding coverage of collective defined contribution schemes, completing the value for money framework, and extending auto-enrolment coverage. The letter also notes that, while the introduction of the Pension Protection Fund as a public sector consolidator could be useful, the scope of any public sector consolidator should be strictly limited to those schemes that would be unable to access a commercially available solution in the future.

The Association of Consulting Actuaries (ACA) has submitted a paper to the Chancellor and Pensions Minister outlining essential elements for unlocking defined benefit (DB) pension scheme surpluses within a robust risk management framework. The proposal advocates for principle-based legislation that maintains trustees' authority in surplus release decisions whilst introducing new flexibilities. Key recommendations include implementing a gradual surplus release mechanism, establishing consistency with existing funding regimes, and introducing the concept of a 'surplus recovery plan'. The framework would primarily target medium and large schemes, allowing surplus funds to be used for current and future workers' pension contributions. The ACA emphasises that trustees must retain formal oversight in assessing rule changes and determining employer surplus refunds, with guidance suggesting acceptable funding levels based on low dependency plus margin or percentage of buy-out cover.

The Association of Consulting Actuaries (ACA) has released two statements on the ruling in Virgin Media Limited v NTL Pension Trustees II Limited. ACA states its concern over the ruling, and that it is looking to the Department for Work and Pensions (DWP) to enact clarifying legislation or regulations to help schemes and their sponsors address the situation positively. It states that immediate action is needed to prevent additional pressure to scheme administration and member services. ACA also issued a joint statement together with the Association of Pension Lawyers, and the Society of Pension Professionals, stating that regulations should be made in response to the ruling to remove uncertainty by 'validating retrospectively any amendment that is held to be void solely because a written actuarial confirmation was not received before the amendment was made (or where such a confirmation cannot now be located).'

The Association of Consulting Actuaries (ACA) has published its response to the Department for Work and Pensions consultation 'Looking to the future: greater member security and rebalancing risk', raising its doubts about the timing and desirability of the 'Pot for Life' proposals in the consultation. ACA states that it is concerned the new infrastructure required across multiple areas for the 'Pot for Life' will be significant and could be a distraction from other current pensions initiatives. The response also highlights concern that a move away from employer sponsored arrangements will 'reduce employers' engagement with retirement saving'. ACA additionally states it is concerned that people may select their pension pots 'based on familiarity or using a purely price or short-term performance lens, without thinking more holistically about future outcomes'.

The Association of Consulting Actuaries (ACA) has introduced a ‘new industry AI steering group’ to assess the opportunities and risks from emerging and evolving AI technology’. The group has been set up in order to assist in developing ethical standards and mainly how consulting actuaries should respond to emerging risks and opportunities at AI technology demonstrates. The group is made up of members from Aon, Barnett Waddingham, Buck (a Gallagher company), Isio, Mercer and XPS and will be chaired by LCP Partner Alex Waite.

The Association of Consultant Architects (ACA) has announced the transfer of its Framework Alliance Contract (FAC-1) and Term Alliance Contract (TAC-1) to Thomas Telford Ltd—the commercial arm of the Institution of Civil Engineers and publisher of the NEC contract suite. FAC-1 and TAC-1, which have collectively supported £45bn worth of construction programmes globally, will now be integrated into the NEC suite, providing practitioners with a single source for the full range of major collaborative contracts. King's College London's Emeritus Professor, David Mosey CBE, the lead author of FAC-1 and TAC-1, has also joined the NEC4 Contract Board.

Law360: The government must consider a separate inheritance tax regime for pension assets, the Association of Consulting Actuaries (ACA) has said, warning that proposed reforms were unworkable as currently drafted.

The Advisory, Conciliation and Arbitration Service (ACAS) has published the results of a YouGov poll of 1,015 senior business decision makers, which was conducted from 24 March to 2 April 2025. The research follows the introduction of the day-one right to request flexible working, and further changes are anticipated under the pending Employment Rights Bill, which will also require employers to reject requests only on ‘reasonable’ grounds and to provide detailed explanations for any rejections. Notably, current polling shows that 89% of employers already feel confident in communicating these decisions.