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TPR welcomes Mansion House reforms

Ref: PN23-17

Issued: Tuesday 11 July 2023

The government has outlined pension reforms to increase retirement incomes and boost investment in British business.

Please see below for a reaction to the reforms from The Pensions Regulator (TPR).

Nausicaa Delfas, TPR’s Chief Executive, said: “These reforms support our ambition for pension savers to be in large, well-run schemes that deliver good outcomes at every stage of their retirement journey.

“They will drive a long-term focus on value, encouraging schemes to invest in the full range of asset classes to deliver higher returns for savers.

“The value for money framework will shine a light on schemes that consistently underperform, and new powers will allow us to enforce consolidation where necessary.

“Similarly, the expansion of collective defined contribution (CDC) schemes and introduction of a permanent regime for pensions superfunds all represent a welcome boost for innovation in savers’ interests.”

Notes for editors

  • The Chancellor launched the reforms in a speech at London’s Mansion House on Monday (10 July).
  • The Pensions Regulator is the regulator of work-based pension schemes in the UK. Our statutory objectives are to:
    • protect members’ benefits
    • reduce the risk of calls on the Pension Protection Fund (PPF)
    • promote, and to improve understanding of, the good administration of work-based pension schemes
    • maximise employer compliance with automatic enrolment duties
    • minimise any adverse impact on the sustainable growth of an employer (in relation to the exercise of the regulator’s functions under Part 3 of the Pensions Act 2004 only)

Press contacts

Dan Menhinnitt

Media Officer
01273 349511

Out of hours

This is for journalists only with a media enquiry. The below number will divert to our on call media officer.
01273 648496

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