Pensions Investment Review: interim report

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 pension scheme default funds, and to legislate to require for the 86 administering authorities to consolidate their assets into fewer, larger pools of capital. This will set the workplace market and the 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 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.