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The Independent UK
The Independent UK
Business
Vicky Shaw

Study highlights ‘extraordinary consolidation of power’ in pensions market

Steve Webb Trust LCP DC
Multi-employer ‘master trusts’ have grown ‘rapidly’ in recent years, a report from consultants LCP said (Dominic Lipinski/PA Archive) - (PA Archive)

Moves to create pensions “mega funds” could lead to power being concentrated in the hands of a small number of people, a report has warned.

The “pensions powerbrokers” research from consultants LCP (Lane Clark & Peacock) estimated that more than half of the money in occupational defined contribution (DC) pensions – over £160 billion – is controlled by fewer than 50 trustees.

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