Pension experts quiz absence of bill on chancellor's investment reforms

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Jeremy Hunt's plans to unlock £50bn of retirement fund investment have been left 'in limbo' after the UK government did not include a pensions bill in the legislative agenda it presented on Tuesday, industry experts warned.

Article originally published by The Financial Times. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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08 Nov 2023

The UK chancellor has in recent months unveiled a series of new measures to boost pensioner incomes as well as stimulate the economy, including a pact with nine big UK pension funds to invest more in private assets.

Hunt has said his so-called Mansion House reform package could channel £50bn of new pension investment in the UK by 2030 and increase pensioner incomes by more than £1,000 a year for the average earner.

But a pensions bill to push forward the Mansion House reforms was “noticeably absent” from the King’s Speech, said Helen Morrissey, head of retirement analysis at Hargreaves Lansdown, the investment managers.

“Such a bill was expected to advance this summer’s Mansion House reforms,” she said.

Morrissey added that the absence was “confusing” and meant that progress before the next general election would