Pensions & Investment – A Waiting Game for the Autumn Statement

With the Kings Speech in July, we are starting to see where the government plans to take action in Investments and Pension. That being said, we still have not got any formal information; that will undoubtedly have to wait until the Autumn Statement to provide any certainty.  

The commitment in the speech only extended to one area – Pension Schemes Bill. All other areas were not directly addressed. After the speech, the government gave a press release outlining some of the plans they have [Chancellor vows ‘big bang on growth’ to boost investment and savings – GOV.UK (www.gov.uk)].  

The detail is still lacking but there appears to be a determination to shake up Pension legislation. This will not be the first time and undoubtedly will not be the last, but for now we don’t have much to go on. 

What we have to work with at the moment:  

• An attempt to boost pension pots for members. 

• Trying to boost UK investment in Pensions.  

• A review of Public Sector Pensions. 

• Assessment of retirement adequacy. 

All very standard statements, with no detail to give us a chance to anticipate the direction of travel. 

Labour have also made a beeline for lost pension pots by the member, but this has been a recurring issue for years. The ‘Pensions Dashboard’ was supposed to be the answer but is now years overdue and now has a new date of October 2026 before it is predicted to be live.  

So, in summary, there really is nothing to get our teeth into at the moment. For now, it is just a waiting game for the Autumn Statement, for the first real information, hoping any shake up is not too disruptive.  

We will provide a summary of the Autumn Statement when the time comes.