Pensions Investment Review: Final Report and consultation responses
The Report sets out reforms to the Defined Contribution workplace pensions market and the Local Government Pension Scheme in England and Wales.
The Chancellor launched the Pensions Investment Review on 20 July 2024. The Review has focussed on tackling fragmentation in the defined contribution (DC) workplace pensions market, boosting investment in productive assets, and increasing savers鈥� returns. The Review has also looked at tackling fragmentation and inefficiency in the Local Government Pension Scheme in England and Wales (the LGPS) to unlock its investment potential.
The Final Report concludes the Pensions Investment Review. It sets out the final policy positions and reforms of the Review, building on those consulted on as part of the Interim Report which was published on 14 November 2024.
The Final Report is published together with the responses to the two consultations:
-
鈥楿nlocking the UK pensions market for growth鈥�
-
鈥楲ocal Government Pension Scheme in England and Wales: Fit for the future鈥�
The reforms announced in this report will ensure that DC workplace pension schemes and the LGPS take advantage of consolidation and scale, to deliver better returns for UK savers, ensure the sustainability of the LGPS, and boost investment from pension funds in productive assets. Legislation to implement these reforms will form part of the forthcoming Pension Schemes Bill.