Pensions Investment Review: interim report

This interim report sets out proposals HM Treasury are consulting on to deliver scale and consolidation of the Defined Contribution (DC) market and the Local Government Pension Scheme in England and Wales (LGPS).

Pensions Investment Review: interim report

Ref: ISBN 978-1-917151-63-4

PDF, 225 KB, 18 pages

The report sets out interim findings of Phase 1 of the landmark Pensions Review which was launched by the Chancellor in July 2024. It puts forward proposals to legislate for a minimum size and maximum number of DC pension scheme default funds, and to legislate to require for the 86 LGPS administering authorities to consolidate their assets into fewer, larger pools of capital. This will set the DC workplace market and the LGPS onto a path of fewer, larger funds, which are better positioned to invest in productive assets, more able to deliver greater returns for members of DC schemes and give greater value for local taxpayers. The report is accompanied by the publication of two consultations for the development of these proposals and an analytical publication on investment supporting the announcement.