PARLIAMENTARY WRITTEN QUESTION
Pensions: Reform (4 October 2024)

The Government has already begun work to reform the pensions system:

• The Pensions Bill, confirmed in King’s Speech, could boost pension pots by over £11,000 for an average earner saving over their career, with further consolidation and broader investment strategies to potentially deliver higher returns for pensions.
• Our landmark Pensions Review, launched in July, is considering how to drive efficiencies and boost investment to help increase pension pots.
• The second phase of the review will begin later this year, looking at further steps to improve pension outcomes, including assessing pension adequacy. This will consider options to build on the success of Automatic Enrolment, which has turned millions of people into pension savers.