UK pension changes could boost economy with billions

A new report proposes releasing £100 billion annually from UK pensions for economic growth. The plan involves potential reforms to pension taxation, using surplus funds, and implementing new savings models to boost retirement incomes. Key suggestions include a flat-rate bonus for pension contributions and using surplus funds from defined benefit schemes. This could generate billions for the government, potentially funding national projects, green energy, and infrastructure. The proposed changes aim to address inefficiencies in the current pension system, which is seen as inadequate for many workers. The report suggests reforms to increase auto-enrolment contributions and encourage homeownership.