Autumn Statement 2023 - what it means for pensions
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Autumn Statement 2023 - what it means for pensions
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All the news ahead of the chancellor’s autumn statement was about potential tax cuts, but in the wake of the Mansion House reforms, many inside the pensions industry were interested to hear the government’s latest thinking.
As expected, the government says it will stand by the state pension triple lock in full, with pensioners receiving an 8.5 per cent increase from April 2024.
However, much of the detail was about consolidating the pensions industry. With a consultation on giving workers a 'pension pot for life' instead of being forced into an employer-chosen scheme.
Here to guide us through the details is Phil Brown and his guests, Gregg McClymont, a former shadow Labour pensions minister who is now with Australian pension funds owned infrastructure investor, IFM and Tim Gosling, Head of Policy at People’s Partnership.