UK’s Reeves to announce review of workplace pensions contributions, Financial Times reports

British Finance Minister Rachel Reeves is expected to announce a shake-up of the UK pension system in her Mansion House speech on July 15, including plans to look at the amount companies and their staff set aside for retirement, the Financial Times reported on Friday.

Reeves plans to establish a commission to conduct a long-anticipated review of pension adequacy, examining auto-enrolment rates, the state pension, and retirement savings among the self-employed, the report added, citing executives familiar with her plans.

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The Treasury did not immediately respond to a Reuters request for comment.

In July last year, Britain’s government launched a review of the pensions system to look at ways to shift more investment into productive assets with the aim of boosting economic growth and improving retirement incomes.