V-FM Pensions #149: Nico and Darren discuss the news

In this episode of V-FM Pensions, hosts Darren and Nico take a meander through some recent pension news stories. The pair discuss: Reform’s proposal to consolidate the LGPS into a single UK-focused sovereign wealth fund and shift new entrants from DB to DC, questioning both the investment logic and the politics; the government’s VFM framework, highlighting a core tension between a system measuring capital growth with policy prioritising retirement income outcomes; the unintended consequences of policy in motion; from salary sacrifice reforms that may disproportionately affect lower-paid workers, to scale tests in the Pension Schemes Bill that could shut out innovators.