Government could force pension funds to invest more in UK assets

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Financial Times 10h ago

Government could force pension funds to invest more in UK assets - Financial Times

Quick Summary:

It was “difficult to say” if pension schemes would have performed better if they had invested as she would have liked over the past decade — as this was about having larger funds with more exposure to private equity and infrastructure.

Quentin Marshall, chair of the Kensington and Chelsea council pension fund, the best-performing LGPS fund over the past five years, said: “I don’t buy into the idea that there’s a huge economy of scale to be had in order to drive better returns . . . I think they will create big bloated unaccountable quangos.

Asked why chancellor Rachel Reeves had decided not to save some money in her Budget by cutting the £268,275 maximum tax-free lump sum that can be withdrawn from a pension, Reynolds said: “We didn’t go down that road.“We’ve got to strike the right balance here between raising revenue and also making sure the right incentives are in the system for people to save for the long term.