IA COMMENTS ON GOVERNMENT PENSION REFORM
Karen Northey, Director of Corporate Affairs at the Investment Association, commented: “Ensuring our pensions system is fit for purpose is mission critical to securing the financial futures of millions across our country. Pension reform is at the heart of economic growth, and if managed correctly, will channel productive capital into infrastructure projects and enable people to live more prosperous lives in retirement.
“Our industry supports the Chancellor’s ambition to ‘go for growth’ through further consolidation of both the LGPS and DC master trusts. However, size alone will not move the dial in terms of better investor outcomes – we must drive sophisticated scale through an emphasis strong governance, accountability and appropriate investment expertise to deliver the most productive outcomes and create value for money for savers.
“We look forward to seeing the interim report and continuing to work closely with the government in the next stage of the review as it considers important questions about pensions adequacy and long-term financial resilience. Working together, we can create a pensions system that works for all.”
For further information, please contact:
Helen Ayres, Head of Communications: [email protected]
T: +44 (0)20 7269 4620
Ellen Hodgetts, Communications Manager: [email protected]
T: +44 7548841289
Ismail Abdi, Communications Executive: [email protected]
T: +44 7596 872575
IA Press Office: [email protected]
About the Investment Association (IA):
- The IA champions UK investment management, supporting British savers, investors and businesses. Our 250 members manage £9.1 trillion of assets and the investment management industry supports 126,400 jobs across the UK.
- Our mission is to make investment better. Better for clients, so they achieve their financial goals. Better for companies, so they get the capital they need to grow. And better for the economy, so everyone prospers.
- Our purpose is to ensure investment managers are in the best possible position to:
- Build people’s resilience to financial adversity
- Help people achieve their financial aspirations
- Enable people to maintain a decent standard of living as they grow older
- Contribute to economic growth through the efficient allocation of capital.
- The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.
- The UK is the second largest investment management centre in the world, after the US and manages 37% of all assets managed in Europe.
