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ARTICLE · 16 JULY 2024

The Pensions Brief: June 2024

Mayer Brown
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The Labour Party's General Election victory could impact pensions through proposed reforms for workplace schemes, reviews to enhance pension outcomes, mandatory climate transition plans for financial institutions, and changes to the Mineworkers' Pension Scheme. Trustees and employers should monitor these developments.

United KingdomEmployment and HR
Katherine Carter
Katherine Carter
Edward Jewitt
Edward Jewitt
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Dates to note over the next 12 months

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Issues affecting all schemes

General Election – impact on pensions

The General Election resulted in a landslide victory for the Labour Party. While no pensions-related announcements have been made since the election by the new government, its election manifesto included the following pensions-related pledges:

  • Adoption of reforms to ensure that workplace pension schemes take advantage of consolidation and scale to deliver better returns for UK savers and greater productive investment in the UK economy.
  • A review of the pensions landscape to consider what further steps are needed to improve pension outcomes and increase investment in UK markets.

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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