Pension improvement to promote government’s plan increase

The government has to reduce the ban on how some pension schemes are managed as part of efforts to promote economic development.

Treasury said that defined benefits are a surplus of £ 160BN in pension schemes, but under the current rules a lot of money is stuck and cannot be invested in a comprehensive economy.

The government has promoted development to promote standard of living, but recent figures indicate that the economy is struggling to expand.

The Prime Minister and Chancellor will meet the owners of firms including Tesco, BT and Unilever as they try to attract more investment in the UK.

The meeting comes beyond a speech by Chancellor Rachel Reeves on Wednesday, where it is expected to focus on measures to promote development, as the government will return the third runway at Heathro Airport.

On Monday, the Chancellor told Labor MPs that there were “no easy routes” for economic development. He said that ministers would have to start saying “yes” and “ahead and fast” for new projects to promote the economy.

The counseling on pension improvement expects unlock billions of pounds within some defined benefits schemes for the economy, pension schemes or alternative use in the company.

Defined benefits pension, sometimes known as the final pay scheme, is directly associated with the salary of a worker and the length of service.

The three -fourth money money paying for these pensioners are in the surplus – which means they effectively have more money than required to meet those pension payments.

Some pension experts have warned that there are risks around re -preparing such funds, but the Pension Regulatory (TPR) has expressed its support for the government’s plans.

“Where plans are fully funded and there are security for security for members, we support the efforts to help trustees and employers to consider it how to safely release surplus if this member is in profit Can improve or unlock investment in a comprehensive economy, “said the Chief Executive Officer, Chief Executive Officer. Of TPR.