The Labour Party has promised to offer a “better deal for our future pensioners” with older households set to claim an extra £11,000 in retirement savings. Chancellor Rachel Reeves, alongside new pensions minister Emma Reynolds, have pledged to unlock billions in investment to bolster pots. A review conducted by both the Treasury and the Department for Work and Pensions (DWP) will examine how £800billion can be used in productive assets. According to the Treasury, this will help create better returns for pension savers and raise the average pot by £11,000. This announcement comes after the inc…
