"UK Pension Reform Boosts Economic Growth"
The UK's pension plans are changing fast, With £25bn "megafunds" to boost growth at last.
In the land of the UK, a plan's been laid,
To reform the pension industry, in a new way.
Megafunds of £25bn will be created with care,
To invest locally, and help the economy share.
To reform the pension industry, in a new way.
Megafunds of £25bn will be created with care,
To invest locally, and help the economy share.
The chancellor's said, with a smile so bright,
These reforms will bring better returns, day and night.
Workers' pension pots will grow, it's true,
And clean energy and businesses will benefit too.
These reforms will bring better returns, day and night.
Workers' pension pots will grow, it's true,
And clean energy and businesses will benefit too.
Seventeen big pension firms have agreed to play,
In a voluntary deal, to make the changes stay.
But the government's also got a plan B in store,
A legislative backstop, to make sure they explore.
In a voluntary deal, to make the changes stay.
But the government's also got a plan B in store,
A legislative backstop, to make sure they explore.
The industry's not pleased, with this government might,
But the goal is to boost the UK, and shine so bright.
Chris Rule said, "Policy that's good, is just as grand,"
As finding good investments, in this UK land.
But the goal is to boost the UK, and shine so bright.
Chris Rule said, "Policy that's good, is just as grand,"
As finding good investments, in this UK land.
Zoe Alexander added, "Consolidation's the key,"
To improved retirement outcomes, for you and me.
Miles Celic backed the move, with a nod of his head,
It'll help drive economic growth, and fill the nation's bread.
To improved retirement outcomes, for you and me.
Miles Celic backed the move, with a nod of his head,
It'll help drive economic growth, and fill the nation's bread.
Sir Steve Webb said, "It's a red letter day indeed,"
For pension schemes, members, and the companies in need.
The government's been bold, and opened up a new way,
To use surplus money, and make it work, day by day.
For pension schemes, members, and the companies in need.
The government's been bold, and opened up a new way,
To use surplus money, and make it work, day by day.
Labour's first move, was a pension review so fine,
And now the chancellor's floated, her "megafunds" in line.
Local authority schemes, will be merged with care,
Into six asset pools, by March next year, they'll share.
And now the chancellor's floated, her "megafunds" in line.
Local authority schemes, will be merged with care,
Into six asset pools, by March next year, they'll share.
Defined benefit schemes, will have local targets set,
For the first time ever, the Treasury won't forget.
Defined contribution schemes, will also be on the list,
Consolidated by 2030, to make the numbers twist.
For the first time ever, the Treasury won't forget.
Defined contribution schemes, will also be on the list,
Consolidated by 2030, to make the numbers twist.
The Mansion House accord, was a voluntary deal so grand,
To invest 10% in UK assets, and help the nation expand.
The reforms will form part of the Pension Schemes Bill,
A new approach to pension savings, that's sure to fulfill.
To invest 10% in UK assets, and help the nation expand.
The reforms will form part of the Pension Schemes Bill,
A new approach to pension savings, that's sure to fulfill.
Over £50bn will flow, into UK infrastructure and more,
New homes and businesses, will be built, and the nation will roar.
Workers on average earnings, could see a £6,000 boost,
Thanks to the reforms, and the government's pension trust.
New homes and businesses, will be built, and the nation will roar.
Workers on average earnings, could see a £6,000 boost,
Thanks to the reforms, and the government's pension trust.