On 16 August, the Terms of Reference for Phase 1 of the new Government’s Pensions Review were released. Despite being unlikely bedfellows, the phase will focus on defined contribution schemes and the LGPS in England and Wales. The initial findings will be reported later this year and ahead of the introduction of the Pension Schemes Bill.

The joint Treasury and Pensions Minister, Emma Reynolds, has been appointed to lead the review, but will work closely with MHCLG Minister, Jim McMahon.