According to the economic secretary to the UK Treasury, Andrew Griffith, pension funds in Britain should feel somewhat comfortable in taking some risks while investing. The City Minister’s views were heard recently in Edinburgh at the Pensions and Lifetime Savings Association (PLSA) Investment Conference 2023.
Via a message pre-recorded for attendees of the conference, Griffith stated his goal was to reform risk averse culture, commenting:
“I want us to be positive about taking risks and to celebrate successful risk takers, and also to recognise that without changes, there is risk in the system. We’re taking risks through risking low returns, poorer pensions under a weaker economy.”
He added that it was those in attendance who possessed the best understanding of challenges and risks with pension schemes and called out for them to help the government in its attempts to reshape the current aversion to risk in investment.
The economic secretary’s comments come amidst the ambitions of the UK government to encourage investments from pensions schemes into illiquid and sustainable assets, as well as UK growth generally. Following the minister’s statement, a panel session was held where pension fund heads criticised the government’s requests calling for greater levels of consistency and clarity.
Whether Britons are keen to put their funds into sustainable assets or UK infrastructure before committing to purchase, most consult financial specialists for investment advice in Shropshire, Hampshire and other affluent areas. As independent financial advisors, wealth management teams provide their clients with an impartial and expert view on potential investments.
