Part I – Response to Pensions Investment Review 2025

We have responded to the Government’s consultation on “Unlocking the UK Pension Market for Growth”.

We support the government’s exploration of measures to deliver greater value to DC savers, and to support the UK economy and broader sustainability objectives.

As professional trustees, our duty is to the beneficiaries of the schemes we govern. Whilst we recognise the benefits that scale can bring, the timescales must be carefully considered to avoid unintended consequences that may harm members. It is vital that space remains for innovation to flourish and for members to have the opportunity to benefit from high quality, good value bespoke solutions, which can be delivered without the scale of ‘mega-funds’. Maximising investment returns is only one part of the challenge and we would urge government to commence phase 2 of the Pension Review at the earliest opportunity to properly address the adequacy challenge.

Read our full response here.

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