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"A new colour of government doesn't mean a radically different path for pensions policy" - David Fairs

Election 2024 DB pensions DC pensions Policy & regulation

Commenting on the General Election result,  David Fairs, LCP Partner, said:

“A new colour of government doesn’t mean a radically different path for pensions policy. We will see a lot of continuity around some of the big themes such as CDC’s, dashboards and AE reform, and we expect to see the adaptation of the PPF to establish a public sector consolidator. Supporting growth by encouraging pension schemes to invest in the UK economy is likely to be high on the agenda.

“What has been a theme of the election campaign is where government spending is going to come from given the Labour party have ruled out any increases to the three main taxes. This does mean that an early review of pensions tax could be on the cards. We also wait to see what will happen with the new funding regulations. If the government wants to pursue a different approach there could be a significant delay before the new Code is laid.”

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