PensionBee comments on Labour’s sixth policy priority - “reinvigorate our capital markets by reviewing the pensions and retirement savings landscape”.
Becky O’Connor, Director of Public Affairs at PensionBee, commented: “Labour appears to be pinning its sail to the mast of the Conservative’s Mansion House reforms for pensions. This gives some clarity to the industry, suggesting that should a Labour government come to power, many of the initiatives already in motion, to unlock capital and bring about consolidation, would continue.
A pensions review has the potential to give impetus to new initiatives too, such as the Lifetime provider model. It’s also encouraging to note Labour’s support of streamlining regulation in line with the FCA’s Consumer Duty and its focus on outcomes.”