The chancellor could end up having substantial influence over the investment strategies of major financial institutions
BEN WHITLEY/PA
Ordinary mortals tend to ignore their pension pots until the twilight years of their working lives. Most of those who pay into defined contribution schemes — as opposed to those glorious and late- lamented defined benefit ones— simply hand over a portion of their earnings at source each month and let the pension fund managers do the rest. Policy holders may not understand much about the ins and outs of bonds and shares but they expect the professionals to. And they expect also that investment decisions will be based on the fiduciary duty to realise the best-possible return.
What they do not expect is for their money — their money— to be commandeered by Rachel Reeves in pursuit of Labour’s policy agenda.
Yet this is
