Investors call for UK government to reform defined benefit pensions

Quick Summary:

The UK government should prioritise reform of the UK’s £1.2tn defined benefit pensions system to unlock billions of pounds for investment, according to asset managers.

In an interview with the Financial Times last month, pensions minister Emma Reynolds said she had prioritised reforming defined contribution workplace schemes because that was “where the growth is”.

The Department for Work and Pensions said it was reviewing responses from the previous government’s consultation on options for defined benefit schemes and a decision on surplus flexibilities “will be made in the coming months”.

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Article Details

Author / Journalist: Mary McDougall

Category: MarketsFinanceInvesting

Markets: United States

Topics: Productive Government Defined Assets Benefit Companies Investment Pensions Schemes Pension Financial

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-24 @ 05:00:52 (1 days ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 808 words

Reading Time: 5 minutes read

Sentences: 24 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 24627253

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Official Website: ft.com

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