TPR director of DC and master trust supervision, Kim Goodall-Brown, calls on trustees and schemes to assess whether they meet the new requirements set out in the Pension Schemes Act 2026.

The Pensions Regulator (TPR) has launched the first phase of a communications programme to support schemes through these changes, including direct email and a new Pension Schemes Act webpage where they can find more detail on what they need to know.

The defined contribution (DC) market is consolidating rapidly – by 15 per cent last year. Our data shows that larger single-employer schemes and master trusts are better placed to deliver good outcomes.

For many smaller schemes, the higher bar will prove challenging. Trustees will need to demonstrate strong governance, reliable data and a credible approach to supporting members into retirement.

They should carefully consider if they can make the changes needed to meet higher legislative standards – or whether members would benefit from transferring to another scheme.

I encourage trustees to challenge existing assumptions. The question is not whether a scheme can continue as it is today, but what is the best route to good outcomes for members.

The direction is clear. Trustees should assess their options now, address any gaps and focus on what is in your members’ interests.

---