Jeremy Hunt is set to promise 'evolutionary not revolutionary' reforms to boost returns for pension fund investors in a speech on Monday
Pensions firms welcomed that Mr Hunt was not making the move mandatory, as the industry had been warning against.
He will also set out a "golden rule" of never making changes that "compromise" the sector with what he is calling the Mansion House Reforms.Nigel Peaple, the Pensions and Lifetime Savings Association's policy director, said: "The Chancellor has confirmed today that the pensions sector will keep their freedom to invest in the interest of the individuals whose savings they manage.
"After the gilt market turmoil of last September, it is reassuring that the Government is committed to a strong and diverse gilt market and that, in consequence, it is seeking evolution not revolution with regard to pensions.
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