27 June, 2024
The Finance Innovation Lab has partnered with trade unions and other civil society groups to develop a comprehensive plan for how the next government can transform the UK’s pension system. Proposed reforms would ensure a decent pension for all, while also making a major contribution to the government’s economic growth and climate goals.
There is an opportunity for the new government to create a win-win system where long-term investment in a healthy and sustainable economy is coupled with financially secure and dignified retirement for all. To do this, policymakers will need to focus on three key issues:
1. Ensuring adequate pensions for all;
2. Fairly sharing risk within occupational pension schemes;
3. Ensuring responsible pension fund investment which supports the just, green transition.
Alongside the Lab, signatories to the report include the TUC, Unison, NASUWT, Common Wealth, Share Action, Positive Money, the New Economics Foundation, the Centre for Local Economic Strategies, and the Financial Inclusion Centre. This joint statement builds on work that the Lab did with Make My Money Matter and ShareAction earlier in 2024.
