It has been a busy few weeks in the world of pensions (when has it not?!)

Now the Finance Act 2024 has become law we have a little more certainty about the abolition of lifetime allowance and its two successor lump sum allowances, from 6 April. There remains a lot of devil in the detail and we expect further updates through regulation and guidance, so watch this space. For a summary of the changes and the key actions to take, see our recent guide. There are also some changes being made to the relief at source provisions.

Hot on the heels of this development and the recent laying before Parliament of the final DB Funding Regulations and Pensions Regulator's General Code of Practice, DWP has today released its much-awaited consultation on treatment of scheme surplus and model for a public sector consolidator. All are being considered with great interest across the interest, and look out for further thoughts from the Burges Salmon team on these key themes of the year.