Employees ‘should be able to borrow from pension funds’

Employees should be allowed to take loans from their pension pot if they need funds while they are still working, rather than having to wait until their retirement, according to a senior investment manager. Steve Rumbles, managing director of BlackRock Investment Management, argues that such a facility would allay one of the main fears that people have about pensions: that their money is locked away for such a long time. BlackRock has made the suggestion to the government as part of its current consultation on pensions.