15 November 2023
As the UK awaits the Chancellor’s Autumn Statement, RSM UK’s head of pensions, Ian Bell gives his predictions on what it might mean for the pensions industry.
Ian Bell, head of pensions for RSM UK said: ‘We are anticipating that the Chancellor will crystalise some of his Mansion House proposals following the consultations that followed that speech. This may mean relaxing some of the constraints on releasing defined benefit (DB) pension scheme surpluses back to employers. If properly co-ordinated, the reforms should make it more attractive to run on legacy DB schemes that are otherwise heading for an insurance buy out. In many cases, the sponsor covenant can underpin more risk in investment portfolios, and we hope that the reforms will enable trustees and sponsors to work together to fund benefits and productive investment.’