Pension Reform: What Rachel Reeves’ ‘Super Fund’ Means for You

On Friday, 15th November, Chancellor Rachel Reeves announced a landmark pension reform, proposing the consolidation of Local Authority Pension Schemes into a single “super fund.” This initiative aims to pool pension assets, boost UK infrastructure investment, and drive economic growth.

While this reform carries major economic implications, individuals must look beyond the headlines to understand how it affects their personal retirement plans.

How Does This Affect Local Authority Pension Members?

If you’re part of a Local Authority Pension Scheme, rest assured – your pension entitlement remains unchanged. These schemes are defined by your service and earnings, not by investment performance. The consolidation only affects how assets are managed, not the benefits you’ve earned.

At Lifetime, we understand that changes like these can cause uncertainty. Our financial experts are here to provide clarity and reassurance about what this means for your retirement security.

What Employers Need to Know

For employers, this reform presents an opportunity to enhance financial wellbeing initiatives. Educating employees on their retirement options fosters trust, confidence, and engagement in the workplace.

Here at Lifetime, we specialise in financial education and wellbeing support, helping both individuals and businesses navigate financial changes with confidence.

Plan Ahead for a Secure Retirement

The financial landscape is evolving, but you don’t have to navigate it alone. Understanding your pension options and retirement planning is key to ensuring financial security.

Have questions? Speak with one of our financial wellbeing experts today and take control of your future with confidence!