Most workplace pension industry experts have welcomed the government's new Pension Schemes Bill, published today, which the DWP says will improve the pension savings of 20m workers.

The Treasury has revealed that the Government will have the ability to set investment allocation targets under its upcoming multi-employer master trust rules as it shared details of the Pension Schemes Bill.

Chancellor Rachel Reeves will outline plans for pension ‘megafunds’ this evening at her Mansion House speech as she seeks to increase investment in the UK.