Guidance
Pensions schemes newsletter 175 — November 2025
Newsletter 175, published by HMRC in November 2025 to update stakeholders on the latest news for pension schemes.
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This newsletter is published by HMRC’s Pension Schemes Services to update stakeholders on the latest news for pension schemes. Pension schemes newsletter 175 has articles on:
- Autumn Budget 2025
- collective money purchase schemes
- defined benefits surplus payments
- Inheritance Tax on pensions
- changes to tax rates for property, savings and dividend income
- salary sacrifice reform for pensions contributions
- speculation about budget changes
- checking your pension protections and enhancements service
- reporting a transfer to a qualifying recognised overseas pension scheme (QROPS)
Updates to this page
Published 27 November 2025