Pension fund consolidation may reduce competition, IMF warns
Consolidating pension funds has the potential to reduce fees and expand access to diverse asset classes, the International Monetary Fund (IMF) has said, but warned it would be "important to guard against possible unintended side effects", including reduced competition.
In its 2025 Article IV Mission Concluding Statement for the UK, the IMF noted that its staff are supportive of the Bank of England’s Financial Policy Committee (FPC) recommendation that The Pensions Regulator (TPR) be given a formal remit to consider financial stability as part of its regulatory responsibilities