New surplus flexibilities for DB schemes: Useful clarity, with more to come
ArticleNew PSA26 rules let DB trustees release pension surplus to employers – key clarity on funding tests, covenant and next steps.
02 Sep 2026 1 min read

Our 2026 report draws on our expertise across the sector to pull together the data, narrative and policy backdrop shaping care homes today. The sector is absorbing a landmark CMA ruling on Welltower's consolidation of over 600 UK care homes, at a time when record investment is meeting record cost pressure.
We look at what this means for operators, investors and advisers, and where the risks and opportunities lie, both now and over the next decade.
New PSA26 rules let DB trustees release pension surplus to employers – key clarity on funding tests, covenant and next steps.
Ian Guthrie, Grant Thornton UK's Head of Real Estate Advisory reflects on his 35 year career navigating credit markets and complex restructurings
Cyber risk is emerging as a key employer covenant threat. Explore what the 2026 AFS means for trustees and how to assess sponsor exposure.