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

  • 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

Pension transfer activity falls to lowest level in over five years

Pension transfer activity falls to lowest level in over five years

Transfer activity now half of that measured this time last year

Jonathan Stapleton
clock 31 August 2023 • 1 min read
Mansion House reforms could see DB scheme sponsors get £50bn

Mansion House reforms could see DB scheme sponsors get £50bn

Majority of final salary schemes comfortable with 'significant surplus'

Jasmine Urquhart
clock 22 August 2023 • 1 min read
Gap between best and worst  annuities on offer widening with age

Gap between best and worst annuities on offer widening with age

The best-worst annuity gap is 16% at age 75, higher than other age groups

Jasmine Urquhart
clock 07 August 2023 • 1 min read