Jo Cumbo is no longer the FT’s pension correspondent – she’s a roving force for challenge but that doesn’t stop her coming back to old grounds to have her say. She has found TPR’s recently published Corporate Plan to be worth a tirade on Twitter and we can thank her for it on a wet Saturday morning
Another development today in the UK Govt’s efforts to pressure pension funds to support the UK economy. They have set the UK pensions regulator a new performance indicator around how well it supports UK growth. This is problematic for savers for several reasons. 1/ https://t.co/qUxVv7V3kO
— Josephine Cumbo (@JosephineCumbo) July 17, 2025
This new growth KPI aligns the Pension Regulator with Treasury’s growth goals, in a measurable way. HMT wants more of the trillions held in pension funds to be invested in areas like UK infrastructure, and start up businesses. Effectively your retirement money to fuel growth. 3/
— Josephine Cumbo (@JosephineCumbo) July 17, 2025
This development shows further signs of blurring fiduciary duty (to members) with national economic policy. The real test will be whether trustees and investment committees can resist indirect pressure to prioritise “productive investment” unless it genuinely benefits members.5/
— Josephine Cumbo (@JosephineCumbo) July 17, 2025
If you are in a workplace pension, now would be a good time to keep a check on your pot.
Your retirement outcomes depend directly on:
– where your money is invested
– the performance and cost of those investments
– risk profile of your investmentsBest advice? Be engaged. 7/7
— Josephine Cumbo (@JosephineCumbo) July 17, 2025