Rachel Reeves wanted control over more than £400bn of your private pension savings. Labour suggested they’d invest it in net zero and Reform have proposed using pensions to nationalise steel and water.
The problem is, it’s not their money. Pensions are people’s hard-earned and hard-saved money, not piggy banks for governments to raid when they are short of cash. For months I have been standing up for savers in the House of Commons chamber.
We have torn Rachel Reeve’s plan (called “mandation”) apart so that now it is only a shadow of its former self.
But it is still wrong in principle and Conservatives would repeal it entirely. No government should have the power to direct where pension savings are invested. Pensions belong to savers, not ministers.
Read my articles on mandation here:
Mandation is nothing like the power the Pensions Minister first imagined - LinkedIn
The pensions minister is in a pickle entirely of his own making - The Times
Your pension is not the Chancellor’s piggybank - CapX
We must stop this naked power grab by the state - The Telegraph
