Kwarteng voted second worse chancellor for pensions over past 25 years

Kwasi Kwarteng ranked as worst since 1997 after week of budget chaos

Jonathan Stapleton
clock • 1 min read

Despite being chancellor for less than a month, Kwasi Kwarteng has been named as second only to Gordon Brown as the worse chancellor for pensions over the past 25 years, a poll reveals.

Some 31% of respondents to the latest Pensions Buzz survey conducted by Professional Adviser's sister title Professional Pensions said Kwarteng was the worst chancellor for pensions. As one said of Kwarteng: "And only a few days into the job! The economy is in danger of collapsing on the global stage." Another added: "There has been significant damage done to defined contribution (DC) funds, especially for those thinking of retiring in next ten years." A third agreed: "Kwarteng is off to a cracking start as the chancellor most likely to tank the economy - don't launch a huge fiscal...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Budget 26: What is the pensions industry expecting?

Budget 26: What is the pensions industry expecting?

Industry sets out predictions as speculation grows ahead of Wednesday

Holly Roach
clock 27 October 2026 • 7 min read
Pension reform should be part of UK's wider economic strategy - Pensions UK

Pension reform should be part of UK's wider economic strategy - Pensions UK

Organisation urges action to be taken now

Holly Roach
clock 13 October 2026 • 2 min read
Triple lock has lifted state pension 14% above earnings-only level

Triple lock has lifted state pension 14% above earnings-only level

Chancery Lane analysis illustrates so-called ‘ratchet effect’

Isabel Baxter
clock 05 October 2026 • 2 min read