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DWP launches consultation on GMP conversion regulations


By Callum Conway

The Department for Work and Pensions (DWP) has launched a consultation on draft regulations intended to provide greater certainty for formerly contracted-out pension schemes undertaking guaranteed minimum pension (GMP) conversion exercises.

The consultation seeks views on proposed changes to the regulations governing the conversion of GMPs into other scheme benefits, with the reforms aiming to clarify the process and steps that schemes must follow


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FCA decides to ban and fine director over unauthorised pension transfer advice

The Financial Conduct Authority (FCA) has issued a Decision Notice to ban former DPT Financial Solutions director and financial adviser, Daniel Thomas, from working in financial services and fine him £742,700 over unauthorised pension transfer advice

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Industry reiterates need for ‘practical’ DB surplus regime as consultation closes

The government has been urged to ensure its proposed defined benefit (DB) surplus regime protects members while preserving trustee discretion, with industry respondents calling for greater flexibility around funding buffers, phased payments and implementation requirements

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Pension trustees told to assess the impact of reforms on schemes

Trustees should assess how reforms introduced by the Pension Schemes Act 2026 could affect their scheme, including governance and member outcomes, according to Hughes Price Walker

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Aon launches DB run-on service aimed at smaller schemes

Aon has launched Run-On Futures, a new run-on service designed for smaller defined benefit (DB) pension schemes

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Charity DB schemes urged to prioritise endgame decisions as funding reaches 109%

UK charities sponsoring defined benefit (DB) pension schemes should shift their focus from deficit recovery to long-term endgame planning, as improving funding levels expand the range of options available, Hymans Robertson has said

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Unnamed DB scheme secures £11m buy-in with Just Group

An unnamed manufacturing firm's defined benefit (DB) pension scheme has completed an £11m buy-in with Just Group

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Greater pension risk pooling could boost productive investment and saver return

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