Superannuation Rise - How Much More Will You Get?
- The UK Government has unveiled a new Pension Schemes Bill designed to enhance retirement savings for more than 20 million people and support economic growth.
- The Bill responds to issues caused by multiple small pension pots and aims to simplify pensions, improve value, and create large-scale pension funds.
- Key provisions include merging pots under £1,000, implementing performance metrics for schemes, increasing flexibility for defined benefit surpluses, and driving long-term investment.
- Chancellor Rachel Reeves described the Bill as a transformative initiative that will increase pension savings for individuals and inject £50 billion into the UK economy through the Plan for Change.
- The Bill is expected to improve pension outcomes for savers and support economic growth, though critics note it does not address the adequacy of pension contributions.
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44 Articles
State pension under review as Government signals major retirement shake-up
The Government is preparing to overhaul the UK’s retirement framework in what could be a huge shake-up of pensions policy in the future.The review is expected to consider changes to the state pension age and payment levels, as ministers explore how the system can remain sustainable for future retirees.According to the Department for Work and Pensions, the second phase of the Pensions Review will "consider the balance of all three pillars of the …

The changes to pensions starting today that could help 20 million workers
Millions of people across the UK will find it easier to manage and get more from their pensions thanks to the Government’s new Pension Schemes…
DWP pension shake-up to give 20million Brits major boost to retirement savings - The Mirror
Labour's new Pension Schemes Bill is designed to help working people plan for their retirement by making pensions simpler to understand and manage and " driving better value over the long term"
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