Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps her Department is taking to help maintain the level of return on savings in the context of her proposal to consolidate pension schemes that have under £25 billion of assets.

Increasing the returns on savings is a key priority of the Pensions Investment Review. Our proposals to consolidate schemes will improve efficiencies, reduce costs, and allow for more effective investment strategies. Together, the review and measures outlined in the King’s Speech, such as the Value for Money framework, are focussed on improving the levels of pension scheme performance and improving saver outcomes