U.K. Seeks Pension Reforms

This is a the City of London news story, published by CNBC, that relates primarily to Rachel Reeves news.

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pension reforms

CNBC

•

UK finance chiefs are banging the drum for one major reform to boost economic growth

Summary

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84% Informative

Labour conference awash with delegates from the City of London urging the government to move decisively with plans to make retirement schemes more competitive.

Finance Minister Rachel Reeves in July announced a landmark pensions review as part of a "big bang" of reforms to unlock growth.

Pension schemes have some of the lowest share of funds held in domestic stocks and private assets of any major global pension market, according to think tank New Financial .

"What happens if those returns don't come through for five, 10 years because of the type of asset class that you hold?" Long said at the conference Tuesday . "All of a sudden your scheme looks like it's underperforming when actually it's not at all, it's a by-product of where you've decided to invest for the longer term." BlackRock 's O'Neill , meanwhile, urged "joined up thinking" from the government to simultaneously try to tackle the country's chronic lack of savings alongside pensions reform..

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Informative language

Neutral language

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semi-formal

Language

English

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not offensive

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not hateful