Mansion House reforms to unlock £75bn from pension funds

In last night's (10 July) Mansion House speech, chancellor Jeremy Hunt launched an array of reforms encompassing DC, the local government pensions, and defined benefit (DB) schemes, with the average saver expected to benefit from more than £1,000 extra a year in their pension pot. He said the ‘Mansion House Reforms' could increase the average savers' pension pot by about £16,000, or 12%, with the aim of increasing investment in high-growth UK businesses as well as ensuring better member outcomes. The reforms will include the chancellor's "three golden rules" of securing the best membe...