The Chancellor unveiled a set of innovative 'Mansion House reforms' aimed at unlocking capital within the financial services sector for the most thriving industries.
This initiative will not only boost returns for savers but also support economic growth across various sectors.
The government is introducing a range of actions aimed at enhancing the benefits for savers and improving the availability of funding for high-growth companies.
The government is:
announcing an industry led compact committing many of the UK’s largest Defined Contribution (DC) pension providers to the objective of allocating at least 5% of their default funds to unlisted equities by 2030
exploring demand for government to play a greater role in establishing investment vehicles, building on the skills and expertise of the British Business Bank
publishing consultation responses on small pots and decumulation, applying additional requirements to DC schemes to support further consolidation
publishing a consultation response setting out the intention to consult on draft regulations for whole-life multi-employer Collective Defined Contribution (CDC) schemes
publishing a consultation response on a permanent superfunds regulatory regime for Defined Benefit (DB) schemes
issuing a call for evidence on the role of the Pension Protection Fund and the part DB schemes play in productive finance
launching a consultation on accelerating the consolidation of Local Government Pensions Scheme assets
Today the government has also published a joint consultation response with The Pensions Regulator and the FCA on a new Value for Money Framework for DC schemes.
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