Supporting pension savers
Earlier this week, the Chancellor unveiled his Mansion House Reforms to unlock billions of pounds of private investment for high-growth businesses and boost the typical pension by £1,000 a year, using post-Brexit freedoms to grow the economy.
- We need to support pension savers, give the sector greater freedoms to invest and ensure British pensioners benefit from the success of British businesses.
- That is why the Chancellor set out his Mansion House Reforms to unlock £75 billion of investment and increase returns for pensioners by up to 12 per cent, or as much as £1,000 a year for an average earner. Alongside post-Brexit regulatory reforms, we will welcome an agreement with leading pension firms to put five per cent of their investments, a sum of up to £50 billion, into fast-growing firms to boost economic growth.
- These reforms will secure the best outcome for pension savers and strengthen the UK’s position as a leading financial centre by encouraging investment to help grow the economy.