Skip to content

News

Brightwell comments on pension scheme surplus speculation

On Sunday 26 January, Sky News reported that the government is set to announce plans to unlock tens of billions of pounds from corporate pension schemes.

Commenting on the speculation, Morten Nilsson, CEO, Brightwell said: “UK defined benefit pension schemes hold around £1.2 trillion of assets and many are sitting on healthy surpluses.

“In most cases, companies can’t access any of the surplus which sits in their pension schemes until the scheme is wound up.

“We would welcome the government including legislation in the Pension Schemes Bill to make it easier for strong employers, with well-managed pension schemes, to access scheme surplus subject to appropriate permissions and safeguards.

“This reform has the potential to fundamentally change the way employers view their defined benefit pension schemes, transforming them from liabilities to offload, into valuable assets worth running on for the longer term.

“To be successful, clear guidance for Trustees would be needed to define who decides whether a payment is made, when it’s made, and the size.

“Done carefully, we believe that these changes would not only benefit employers and members but also support the UK economy.”

Published:

27 / 01 / 2025

Share Article:

Media enquiries contacts

Amy Mankelow​

Head of Communications and External Relations


Explore other articles

Brightwell welcomes passage of the Pension Schemes Bill

Brightwell has welcomed the passage of the Pension Schemes Bill through Parliament. Morten Nilsson, CEO, Brightwell, said: “The industry will be breathing a collective sigh of relief at the passage of the Pension Schemes Bill last night. While the detail will now be shaped through consultation, regulation and guidance, the Bill provides a strong blueprint for the future.

Find out more about “Brightwell welcomes passage of the Pension Schemes Bill”

29/04/2026

Brightwell comments on the final phase of the Pension Schemes Bill

As the Pension Schemes Bill reaches its final phase, Morten Nilsson, CEO, Brightwell said: “The Pension Schemes Bill will introduce a number of important reforms which will shape the future direction of travel for pensions for decades to come.

Find out more about “Brightwell comments on the final phase of the Pension Schemes Bill”

21/04/2026

Subscribe

    Email subscription form