Chancellor Vows ‘Big Bang on Growth’ With Pension Reform

Published on July 21, 2024

Chancellor of the Exchequer Rachel Reeves launched a review of pension schemes on Saturday in a bid to boost investment by billions and deliver better returns for pensioners. As part of her ambition to lead a “big bang for growth,” the chancellor outlined plans to pool pension funds and get them to invest in infrastructure, small businesses, and other projects. It follows the inclusion of a Pension Schemes Bill in Wednesday’s King’s Speech, to help savers by introducing automatic consolidation of small pension pots and a value-for-money framework to improve governance. The Treasury said the measures could boost an average pension pot by over £11,000....

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