At a City of London meeting with top business leaders, the prime minister and chancellor will announce plans to lift investment restrictions on well-funded DB scheme surpluses.
The government’s detailed surplus policy will be outlined in its Options for Defined Benefit Schemes consultation response, set for publication this spring.
The announcement follows speculation that the government would unveil DB surplus reform plans on Monday (27 January), which were welcomed by the industry.
Prime Minister Keir Starmer stated: “My government’s top priority is securing growth, improving living standards, and putting more money in people’s pockets.
“Rewiring the economy requires bold reforms, removing barriers, and relentless focus. From public services to regulation and pensions, we won’t accept the status quo. Today’s changes will unlock billions in investment, driving forward my Plan for Change.”
