Pension scheme shake-up may add £11,000 to retiree savings

Measures announced in the king’s speech include a ‘value for money test’ and consolidating small pension pots

• Business live – latest updates

The more than 15 million people who save into workplace pension schemes in the UK may benefit from a shake-up designed to add £11,000 to the average retiree’s savings.

The package of measures announced in the king’s speech on Wednesday includes moves to help workers with many small pension pots by bringing them together.