Chancellor launches pensions review to boost investment

Chancellor vows 'big bang on growth' to boost savings

Jonathan Stapleton
clock • 9 min read

The chancellor Rachel Reeves has announced the first phase of a landmark pensions review as part of the new government’s mission to boost growth and make every part of Britain better off.

Under the plans the chancellor said billions of pounds of investment could be unlocked in the UK economy from defined contribution (DC) schemes alone and pension pots for savers in defined contribution schemes could be boosted by over £11,000. The review will also look at how to unlock the investment potential of the £360bn Local Government Pensions Scheme (LGPS), which manages the savings of those working to deliver vital local services, as well as how to tackle the £2bn that is being spent on fees. The announcement comes ahead of the first Growth Mission Board on Tuesday (23 July). ...

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 Your profession

WIFA 2025 headline sponsor video: LV's Katherine Carnegie on inclusive leadership

WIFA 2025 headline sponsor video: LV's Katherine Carnegie on inclusive leadership

‘Creating a culture where everyone thrives’

Professional Adviser
clock 17 September 2025 • 1 min read
Fintel simplifies model into two divisions as it stresses cultural fit in acquisitions

Fintel simplifies model into two divisions as it stresses cultural fit in acquisitions

The group moves from three divisions to two

Sahar Nazir
clock 16 September 2025 • 2 min read
PA Awards 2026: Get your entries in by Friday!

PA Awards 2026: Get your entries in by Friday!

Celebrating the best in financial planning and advice

Professional Adviser
clock 16 September 2025 • 1 min read