Rachel Reeves

Rachel Reeves

Labour — Leeds West and Pudsey

Speaking in the House of Commons on 3 September 2024

Debate

Occupational Pensions: Tax Relief

Contribution

I recognise that for many people who work hard and save for retirement, that money is not enough. I believe that every penny saved in a pension should produce a decent return. Billions of pounds of investment could be unlocked in the UK economy and could work better for those saving for retirement, and we believe that the reforms we seek to introduce through the pensions review could increase their pension pots by £11,000. My right hon. Friend the Secretary of State for Work and Pensions is leading the review that I mentioned to ensure that pensioners receive a good deal in retirement, and that people who sacrifice and work hard to save for their retirement have a decent return on their investment.

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