The General Election outcome

David Saunders, senior partner at Sackers, gives his initial reaction on what “change” might be on the cards for pensions.

“With Labour now confirmed as the new Government in office, all eyes are on what its priority destinations will be during the initial stages of its journey. Labour’s manifesto suggested that the pensions road ahead may well contain some familiar milestones, with proposals to ensure that workplace pension schemes can take advantage of consolidation and scale, to deliver better returns for UK savers and greater productive investment for UK PLC. Whilst there were no obvious indications of major pensions tax changes on the horizon, having ridden into office on a manifesto of change, once the new Government starts cranking through the gears it will be interesting to see where the promised review of the pensions landscape ultimately takes us.”