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

In this 7 Days

DWP consults on regulations to change GMP conversion rules

On 3 September 2026, the DWP published a consultation on draft regulations to make clarificatory changes to the GMP conversion process by amending existing regulations, alongside changes to the GMP conversion legislation made by the Pension Schemes (Conversion of Guaranteed Minimum Pensions) Act 2022. The revised process is intended in particular to help schemes which plan to use conversion as part of a GMP equalisation exercise.

The draft regulations set out how survivor benefits must be treated after conversion and define the “relevant persons” whose consent must be sought by a scheme’s trustees prior to GMP conversion being carried out. They also propose a new process which schemes can use to certify that pre and post-conversion benefits are actuarially equivalent when a single individual’s GMP is being converted.

The changes will apply to GMP conversions undertaken after the regulations come into force, and as such will not have implications for schemes which have already completed a GMP conversion exercise. The intention is that schemes in the process of consulting with members about GMP conversion when the regulations come into force will continue to be subject to the current legislation.

The consultation closes on 29 October 2026. No timing is given for the final regulations.

DWP consults on GMP fixed rate revaluation

On 3 September 2026, the DWP published a consultation seeking views on the proposal to retain 3.25% per annum as the fixed rate used to revalue GMPs for early leavers. The rate is reviewed every five years and the DWP has carried out this review with advice from the GAD. Subject to consultation responses, the proposed rate will apply to members leaving pensionable service on or after 6 April 2027 to 5 April 2032.

The consultation closes on 29 October 2026.

PASA publishes new dashboards toolkit guidance

On 1 September 2026, PASA published new guidance to help trustees, scheme managers, administrators and providers assess how member behaviour may change once pensions dashboards are available.

The guidance highlights reporting measures that schemes and administrators may wish to consider, including changes in completed transfers, transfer quotations, retirement settlements and quotations, transfers in, member enquiries, fraud cases, and engagement from vulnerable members. It also considers whether this data is likely to be captured through existing reporting and identifies additional information that could offer further insight.

Pension Attention Campaign 2026 launches

The fifth annual Pension Attention campaign was launched by the ABI and Pensions UK on 4 September 2026. The national pension engagement drive urges the public to engage with their retirement plans, with various resources for individuals and employers available on the campaign website.