7 Days is a weekly round up of developments in pensions, normally published on Monday afternoons. We collate this information from key industry sources, such as the DWP, HMRC and TPR.

In this 7 Days

TPR and FCA podcast on guided retirement

On 22 August 2025, TPR and the FCA announced a joint podcast on “Guided retirement and helping savers make the right decisions”. Patrick Coyne, TPR’s Interim Director of Pensions Reform, and Nike Trost, the FCA’s Head of Department – Asset Management and Pensions Policy, discuss how trustees can ensure guided retirement “makes a difference” by developing a better understanding of the different needs and profiles within their scheme membership.

The podcast also explores the FCA’s targeted support proposals and encourages trustees to respond to the FCA’s consultation which closes imminently, on 29 August 2025.

Fraud Compensation Fund pays £81.5m compensation

TPR announced on 19 August 2025 that, in partnership with the Fraud Compensation Fund and TPO, £81.5m has been paid out in compensation to 58 occupational pension schemes whose members were defrauded by scammers. More than 2,000 victims will benefit from the payments, with further payments expected later in 2025/26 for other historic scam victims.

HMRC publishes latest pensions newsletter

HMRC published its latest pension schemes newsletter 172 on 21 August 2025, covering a range of topics. Among other things, it confirms that:

  • from 1 September 2025, HMRC is lowering the threshold for evidence requirements for new requests for higher or additional rate relief claims to be given through an individual’s tax code for the current year. The upshot is that some individuals may be asked to provide evidence where previously they would not have been, and
  • HMRC is looking for industry volunteers to test a new authenticated look-up service to allow users to view a member’s lifetime allowance protection and enhancements.

Data (Use and Access) Act 2025 first provisions in force

The first provisions of the Data (Use and Access) Act 2025 came into force on 20 August 2025 following the Act receiving Royal Assent on 19 June 2025 as a result of the first set of regulations. The changes include:

  • technical provisions which clarify aspects of the legal framework
  • provisions requiring the Government to publish an impact assessment, a report and a progress update on artificial intelligence and copyright issues, and
  • introducing new obligations the Information Commission (the new entity replacing the ICO) must meet when carrying out its regulatory functions.

TPR regulatory action

On 26 August 2025, TPR published a report outlining the role it played in securing the rescue of a scheme following the insolvency of its sole sponsoring employer back in November 2020. TPR opened an enquiry into concerns about the circumstances leading up to the insolvency and issued several statutory notices to allow it to investigate and gather relevant evidence.

Following engagement with the PPF and the scheme’s trustee, an arrangement was reached with the new owner of the business for it to become the scheme’s statutory employer. Members are now expected to receive their full benefits.