Making Money Can Labour Fix The UK’s Pension Crisis? Torsten Bell MP
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Nov 17, 2025 Torsten Bell, the Pensions Minister and former think-tank director, discusses the urgent need for reform in the UK pension system. He highlights that nearly 45% of working-age individuals save nothing for retirement. Bell advocates for the revival of the Pensions Commission to address gaps in current policies. He raises concerns over the challenges facing self-employed savers and the importance of diversifying pension investments. The conversation emphasizes enhancing retirement income security while navigating evolving state pension ages and long-term sustainability.
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Sacking An Expensive Accountant
- Timeyin described sacking her expensive, slow accountant after poor service.
- She switched due to high fees and slow responses and promoted TaxApp as an alternative.
Act Fast With The Pension Commission
- Use the Pension Commission to design practical reforms quickly and report within a year.
- Torsten urges industry and government to act now, not delay like past cycles.
Shift To Diverse Asset Allocation
- Industry agreement targets broader asset allocation including private assets and a modest UK allocation.
- Torsten frames this shift as diversification to improve long-term returns for savers.