The new Government could build on previous pensions policy
Chancellor Rachel Reeves has been encouraged to use her new post to boost pension investments, with the potential to increase pots by £16,000 or more. Chris Ball, managing partner at Hoxton Capital Management, said that Labour's intentions to enhance pension investments could result in some big returns for retired Britons.
"Even if those adjustments lead to a one percent increase in the returns of pension funds each year, the difference could be staggering. For example, an £100,000 pension fund returning five percent a year for 10 years would result in over £16,000 more in ultimate fund value." Mr Ball also pointed to Labour's housing plans, with ambitions to build another 1.5 million homes over the next Parliament, as a potential sector for increasing pension investments.
Although the new Labour Government will want to set out fresh pensions policies, some experts are predicting they could work with ideas from the previous Conservative Government's Mansion House reforms.
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