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

Companies House confirms identity verification rollout

Companies House announced on 5 August that mandatory identity verification requirements for directors and people with significant control (PSCs) of companies will be phased in from 18 November 2025.

From 18 November 2025:

  • new directors will need to verify their identity to incorporate a company or be appointed to an existing company
  • existing directors will need to confirm they have verified their identity at the same time as they file their next annual confirmation statement, during a 12-month transition period
  • existing PSCs will need to verify their identity in line with an appointed day within 12 months of 18 November 2025, and
  • directors and PSCs will be able to check the Companies House register to see identity verification due dates for all their roles.

Companies House will contact companies to tell them what their directors and PSCs need to do to meet the requirements and encourages individuals to verify their identities as soon as possible.

FCA review of climate-related disclosures

The FCA published the findings of its review into climate-related disclosures by asset managers, life insurers and FCA-regulated pension providers on 6 August 2025. The review looked at how the rules have been working and firms’ views on the regime.

Overall, the FCA found that its rules have “increased firms’ consideration of climate risks and supported their integration into firms’ decision-making”. Firms were more transparent with their clients and consumers but encountered some challenges with the availability of data and consistent, well-developed methodologies.

Following the review, the FCA has updated its sustainability reporting requirements to clarify how firms in scope of both the TCFD requirements and Sustainability Disclosure Requirements can report efficiently under both regimes. In light of its findings, the FCA is also considering how to streamline and enhance its sustainability reporting framework. It plans to engage further with industry to guide its next steps.

PDP blog on testing the MoneyHelper Pensions Dashboard

On 6 August 2025, the PDP published a blog summarising its approach to testing the MoneyHelper Pensions Dashboard.

TPR anti-avoidance action

On 6 August 2025, TPR announced that following anti-avoidance action approximately £2.5m will be returned to a pension scheme.

Concerns had been raised to TPR by the scheme’s independent trustee and upon investigation TPR found that, between 2008 and 2019, money had been extracted from the firm while the scheme was in deficit which amounted to “material detriment”.

Gaucho Rasmussen, TPR’s Executive Director of Regulatory Compliance said, this case “demonstrates our commitment to protecting savers and preserving the integrity of the pensions system. It also shows that we remain open to engagement and settlement where it delivers good outcomes for schemes. Importantly, it highlights that even when an employer remains in business, we will intervene where necessary to safeguard pension benefits.”