A warning from Labour Party's 'lamentable' pension record

THE Government's proposed pension reforms have understandably generated great concern and criticism. I understand that one of the principal reasons for the planned changes is to steer or encourage pension funds towards increasing investments in UK assets.

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I must confess that the idea of politicians directing or influencing trustees of these schemes in their investment choices and strategies is something which should immediately sound alarm bells. Such a move undermines a fundamental legal obligation to protect pensioner savers and maximise financial returns. Any erosion of this fiduciary duty must be resisted as working people rely on these professionals to deliver for them the best possible retirement income.