Pension Fund Reliefs

Lord Hamilton of Epsom Excerpts

Tuesday 4th February 2025 Lords Chamber

[Lord Livermore (Lab)]

The noble Baroness talks of a sense of urgency, but, of course, she had 14 years to do something about this and did not. The previous Government never legislated for the reforms they brought forward. We are legislating for them. As I said, we are absolutely concerned that UK pension funds are investing less in the domestic economy, which is exactly why the pensions review is looking at the issue.

[Lord Hamilton of Epsom (Con)]

My Lords, one of the obligations on the trustees of pension funds is to get the best return for pensioners. Is the Minister resigned to the fact that, if we invest in British infrastructure, pensioners will be worse off as a result?

[Lord Livermore (Lab)]

I am not sure that the noble Lord should talk down the British economy in quite that way.