Kemi Badenoch backs costly triple lock pension as ‘Conservative policy’ July 10, 2025 Opposition leader Kemi Badenoch has doubled down in her backing of the triple lock pension after the UK’s fiscal watchdog said its costs on the state had soared far higher than expected. The Office for Budget Responsibility (OBR) warned this week that the Labour government could not afford the triple lock pension along with other [...]
Scottish Widows owner: Pension funds deal risks making UK like China July 7, 2025 Labour’s flagship deal with pension funds risks making the UK economy more like China, the boss of Lloyds Banking Group has warned after its subsidiary Scottish Widows chose not to sign up to the agreement. Chancellor Rachel Reeves won the support of 17 pension funds which agreed to invest at least five per cent of [...]
State pension could face insolvency by 2036 despite tax hikes July 6, 2025 Britain’s state pension could become financially unsustainable as early as 2036, despite recent increases in National Insurance contributions, according to new modelling by the Adam Smith Institute (ASI). The think tank warned the Treasury is on course to spend more on welfare payouts than it receives in National Insurance receipts within just over a decade. [...]
Labour urged to scrap state pension triple lock July 2, 2025 The government should scrap the £145bn triple lock on the state pension and employers should automatically contribute to private pensions, the Institute for Fiscal Studies (IFS) has said. Labour’s election manifesto last year said it would commit to keeping the state pension, while the Conservative Party pitched a ‘triple lock plus’ pension that would increase [...]
Reeves told Lifetime ISAs rules are ‘nonsensical’ and costing savers June 30, 2025 Lifetime ISAs require deep reform, as strict rules on cash withdrawals mean customers are left with less money than they initially deposited, leading Britons to make worse investment decisions, while the government sets aside too much spending for bonuses, senior MPs have told Chancellor Rachel Reeves. Reeves is a fortnight away from her flagship Mansion [...]
The investment industry has three asks for Reeves’ Mansion House speech June 26, 2025 The investment industry is listening to the Reeves’ rallying cry for growth, but there are three things we need to make it happen, says Chris Cummings In just over two weeks’ time the Chancellor will deliver her Mansion House address to the financial services sector. It is an important moment for government to demonstrate progress [...]
What changes to the pension salary sacrifice scheme could mean for you? June 11, 2025 A new report from HMRC has raised concerns around changes to the pension salary sacrifice scheme. A report on workplace pensions by HMRC has fuelled speculation around changes to salary sacrifice schemes. The report looked into employers’ behaviours and attitudes on salary sacrifices and looked into how potential reforms to tax reliefs could change these. [...]
Voters reject Reeves’ plans for state power on pension investments June 10, 2025 A majority of British voters oppose the government having powers to dictate pension fund investments, fresh polling has revealed, in a blow to Rachel Reeves’ attempts to use pension pot funds to boost growth. Three in five voters disagree with government influence over pension fund investments, according to a City AM and Freshwater Strategies poll [...]
Legal & General CEO: Urgent action is needed to get Brits saving more, earlier June 10, 2025 For a happy retirement, savers need a £220,000 pension pot. That means urgent action is needed now to get people to save more, earlier, says António Simões Whether it’s families around the dinner table or government around the cabinet table, pensions deserve to be a part of a national conversation. The government has rightly put [...]
Winter fuel payments to return for 9m pensioners in £1.3bn Labour u-turn June 9, 2025 The winter fuel payment will be handed out to 9m pensioners whose income falls below £35,000 a year, the Treasury has revealed, in a £1.25bn blow to Chancellor Rachel Reeves’ chances of keeping her £9.9bn headroom intact.