Trustees should assess how reforms introduced by the Pensions Schemes Act 2026 could affect their scheme, including governance and member outcomes, according to Hughes Price Walker.

The firm said trustees should look beyond compliance and consider how the changes fit within their scheme’s wider objectives as the reforms enter the implementation phase.

In July, the government published an updated workplace pensions roadmap, which set out a revised, phased timetable for implementing reforms across the defined contribution (DC), collective defined contribution (CDC), and defined benefit (DB) markets.

The Department for Work and Pensions (DWP) said the sequencing recognised the interaction between reforms and capacity constraints facing schemes, providers, administrators and regulators.

Hughes Price Walker said that while some of the detail will be introduced by regulations and further guidance, this period could be used to decide where preparation is needed.

“The government's roadmap confirms that pension reform is no longer a distant policy debate; it is moving into delivery," commented Hughes Price Walker director, Ray Hughes.

“Trustees will need to understand the specific requirements that apply to their schemes, but they should also look at the reforms as a connected programme of change affecting governance, strategy and how schemes continue to deliver good outcomes for members.”

Hughes said the roadmap gives trustees greater visibility of the direction and timing of change, allowing them to consider what the reforms collectively mean for their schemes rather than focusing on individual requirements.

Looking beyond compliance and considering how the changes fit with the scheme’s wider objectives may lead some schemes to review their governance arrangements, while prompting others to reassess strategy, member outcomes and long-term sustainability.

“Major regulatory shifts can create challenges, but they can also create opportunities,” Hughes added.

“The key will be ensuring trustees have the right information, advice and governance framework in place to navigate the changes effectively.

“Schemes that take a proactive approach will be best positioned to respond as the new requirements are implemented and to make the most of the opportunities they create.”

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