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British pension savers set to benefit from Trump’s pro-business policies
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class="row"> <div class="col-lg-9"> <div id="primary" class="content-area"> <main id="main" class="site-main" role="main"> <article id="post-152019" class="post-152019 post type-post status-publish format-standard has-post-thumbnail hentry category-news color-red"> <header class="entry-header"> <h1 class="entry-title">British pension savers set to benefit from Trump’s pro-business policies</h1> <div class="entry-meta"> <span class="posted-on"><i class="fa fa-clock-o"></i> <a href="https://bmmagazine.co.uk/news/british-pension-savers-set-to-benefit-from-trumps-pro-business-policies/" rel="bookmark"><span class="entry-date published updated">22 November 2024</span></a></span><span class="cat-links"><span class="caps-uc"><i class="fa fa-folder"></i> <a href="https://bmmagazine.co.uk/news/" rel="category tag">News</a></span></span><span class="byline"> <i><i class="fa fa-user"></i> <span class="author vcard"><a class="url fn" href="https://bmmagazine.co.uk/author/jyoung/">Jamie Young</a></span></i></span> </div> </header> <div class="entry-thumbnail"><img width="850" height="567" src="https://bmmagazine.co.uk/wp-content/uploads/2022/10/shutterstock_1926221624-scaled.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Liz Truss has been forced to abandon plans to raise pensions by average earnings alone next year, which could have saved the government as much as £5 billion a year." decoding="async" fetchpriority="high" srcset="https://bmmagazine.co.uk/wp-content/uploads/2022/10/shutterstock_1926221624-scaled.jpg 850w, https://bmmagazine.co.uk/wp-content/uploads/2022/10/shutterstock_1926221624-300x200.jpg 300w, https://bmmagazine.co.uk/wp-content/uploads/2022/10/shutterstock_1926221624-1024x683.jpg 1024w, https://bmmagazine.co.uk/wp-content/uploads/2022/10/shutterstock_1926221624-768x512.jpg 768w, https://bmmagazine.co.uk/wp-content/uploads/2022/10/shutterstock_1926221624-1536x1024.jpg 1536w, https://bmmagazine.co.uk/wp-content/uploads/2022/10/shutterstock_1926221624-2048x1365.jpg 2048w, https://bmmagazine.co.uk/wp-content/uploads/2022/10/shutterstock_1926221624-230x153.jpg 230w" sizes="(max-width: 850px) 100vw, 850px" /></div> <div class="row"> <div class="entry-content col-md-9 col-md-push-3"> <p><?xml encoding="utf-8" ?></p> <h2>British pension savers are poised to gain from Donald Trump’s election victory, as the former US president’s pro-business stance boosts stock markets, particularly in the United States.</h2> <p> Andrew Evans, group chief executive of Smart Pension, a leading UK retirement business, highlighted the positive impact of rising US markets on UK pensions with investments in American assets.</p> <p>Evans said, “American markets have been incredibly bullish since <a href="https://bmmagazine.co.uk/news/trump-hails-magnificent-victory-as-projected-winner-of-2024-us-election/">Trump’s victory</a>, benefiting UK pension savers with funds tied to US assets, whether they realise it or not.”</p> <p>Smart Pension, which manages retirement savings for 1.4 million people, has 52% of its main fund invested in the US. Following Trump’s election, the S&P 500 surged by 5% to a record high of 6,001.35 points. Although it has since dipped slightly to 5,863.69 points, the index remains 2.6% higher than its pre-election level and up 12.8% since August. Similarly, the Nasdaq Composite Index hit record highs and is still up 2.6% compared to November 4.</p> <p>Despite concerns over Trump’s trade policies, which some economists warn could disrupt global markets and fuel inflation, investors remain optimistic about his corporate tax cut promises and pro-growth agenda. Evans noted, “Trump’s policies promoting American growth and company assets will benefit global pension funds.” </p> <h3>Rachel Reeves pushes for UK pension reform</h3> <p> Meanwhile, in the UK, Chancellor Rachel Reeves has proposed a significant overhaul of workplace pensions, aiming to pool smaller pots into “megafunds” worth £80 billion. These larger funds are expected to have the capacity to invest in a broader range of assets, driving growth and returns for savers.</p> <p>Evans welcomed the initiative, which aligns with Smart Pension’s mission to transform retirement savings. The company currently allocates 6% of its master fund to private markets and plans to increase this investment.</p> <p>However, Evans called for further government incentives to stimulate domestic growth, particularly in light of the Chancellor’s £41.5 billion in tax hikes outlined in the Budget. “Promoting growth while imposing significant tax increases is a challenging balance. Additional structural measures are needed to support investment in the UK,” he said.</p> <hr/> <div class="dcms_author-info"> <div class="dcms_author-avatar"> <img decoding="async" src="https://bmmagazine.co.uk/wp-content/uploads/2024/08/Jamie_Young-110x110.jpg" width="96" height="96" srcset="https://bmmagazine.co.uk/wp-content/uploads/2024/08/Jamie_Young-230x230.jpg 2x" alt="Jamie Young" class="avatar avatar-96 wp-user-avatar wp-user-avatar-96 alignnone photo" /> </div> <h3 class="dcms_author-heading">Jamie Young</h3> <div class="dcms_author-description"> Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting. Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops. When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders. </div> <div class="dcms_author-footer"> <div class="dcms_author-social"> <a href="https://bmmagazine.co.uk/" target="_blank" class="author-url"><i class="fa fa-link" aria-hidden="true"></i></a> </div> <div class="dcms_author-show-all"> <a href="https://bmmagazine.co.uk/author/jyoung/">View all posts <i class="fa fa-angle-right" aria-hidden="true"></i></a> </div> </div> </div> </div> <div class="entry-sidebar col-md-3 col-md-pull-9"> <div class="entry-sharing"> <h3>Sharing</h3> <ul class="dw-social-share dwss-style-1"><li class="dwss-facebook"><a href="javascript.void(0);" rel="nofollow"><i class="fa fa-facebook"></i> <span>Facebook</span></a></li><li class="dwss-twitter"><a href="javascript.void(0);" rel="nofollow"><i class="fa fa-twitter"></i> <span>Twitter</span></a></li><li class="dwss-linkedin"><a href="javascript.void(0);" rel="nofollow"><i class="fa fa-linkedin"></i> <span>LinkedIn</span></a></li><li class="dwss-pinterest"><a href="javascript.void(0);" rel="nofollow"><i class="fa fa-pinterest"></i> <span>Pinterest</span></a></li><li class="dwss-mail" ><a href="mailto:admin@example.com?Subject=British%20pension%20savers%20set%20to%20benefit%20from%20Trump%E2%80%99s%20pro-business%20policies" rel="nofollow"><i class="fa fa-envelope-o"></i> <span>Email</span></a></li></ul> </div> </div> </div> </article> <nav class="navigation post-navigation" aria-label="Posts"> <h2 class="screen-reader-text">Post navigation</h2> <div class="nav-links"><div class="nav-previous"><a href="https://bmmagazine.co.uk/news/italy-abu-dhabi-and-cyprus-court-britains-wealthy-amid-non-dom-tax-changes/" rel="prev">Italy, Abu Dhabi, and Cyprus Court Britain’s Wealthy Amid Non-Dom Tax Changes</a></div><div class="nav-next"><a href="https://bmmagazine.co.uk/in-business/advice/gary-lineker-liquidates-goalhanger-films-ahead-of-capital-gains-tax-increase/" rel="next">Gary Lineker liquidates Goalhanger Films ahead of capital gains tax increase</a></div></div> </nav> <div class="author-info"> <div class="author-avatar"> <img src="https://bmmagazine.co.uk/wp-content/uploads/2024/08/Jamie_Young-110x110.jpg" width="72" height="72" srcset="https://bmmagazine.co.uk/wp-content/uploads/2024/08/Jamie_Young-230x230.jpg 2x" alt="Jamie Young" class="avatar avatar-72 wp-user-avatar wp-user-avatar-72 alignnone photo" /> </div> <div class="author-detail"> <h4 class="author-title"> <a href="https://bmmagazine.co.uk/author/jyoung/" title="Posts by Jamie Young" rel="author">Jamie Young</a></h4> <p class="site-url"><a href="https://bmmagazine.co.uk/">https://bmmagazine.co.uk/</a> </p> <p class="author-description">Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting. Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops. 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