Chancellor Rachel Reeves’ decision to indefinitely pause the second phase of the government’s Pensions Review has been met with disappointment from across the industry.
The second stage of the review, focusing on the adequacy of pension contributions, was due to start before the Christmas. However, the chancellor has halted the review indefinitely, as first reported in the Financial Times. The decision could have a detrimental impact on people's financial future, according to Phoenix Insights director Catherine Foot. "In the next five years, the majority of defined contribution pension savers will enter retirement with less income than they expect or need, and this will worsen to a peak in the early 2040s. "There are clearly some valid concerns...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
