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

Industry calls for whole market approach to FCA pension transfer reforms

Industry calls for whole market approach to FCA pension transfer reforms

Consultation responses suggest proposals risk creating ‘disjointed’ and ‘confusing’ experiences

Martin Richmond
clock 11 February 2026 • 7 min read
Scottish Widows launches investment options to boost DC private market opportunities

Scottish Widows launches investment options to boost DC private market opportunities

Unveils Lifetime Investment Plus and Lifetime Investment Extra funds

Holly Roach
clock 04 February 2026 • 2 min read
Budget 25: Rumours, possibilities and predictions

Budget 25: Rumours, possibilities and predictions

The industry speculates on the Budget and discusses the impacts of possible reform

Holly Roach
clock 25 November 2025 • 8 min read