The pension market in the UK has expanded to become the largest in Europe, worth over £2.5 trillion in 2021. Successive British governments have encouraged this growth, especially through the auto-enrolment scheme which made workplace pension contributions compulsory.
But they haven’t yet managed to channel those funds in ways that really boost the economy and make people better off. Now the UK chancellor Jeremy Hunt is attempting to tackle this with reforms aimed at making fund managers invest more boldly, expanding tomorrow’s pensions pots at the same time as providing an economic jolt today.
