November 16, 20240 Comments

What is Rachel Reeves’ plan for pension funds?

Reuters Chancellor Rachel Reeves says she wants pension schemes to “fire up the economy” Plans for a major shake-up of pension funds have been announced by the chancellor, Rachel Reeves. She wants to create pension “megafunds” by merging the UK’s 86 council schemes, using the set-up in Canada and Australia as a model. Other proposals suggest pension schemes need to reach a certain size or pool together. Larger funds could

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November 14, 20240 Comments

Rachel Reeves in radical pension shake-up to boost growth

Chancellor Rachel Reeves is planning what she calls the “biggest pension reform in decades” in an attempt to boost economic growth. The government wants to merge the UK’s 86 council pension schemes into a handful of “pension megafunds”. It is hoped the changes will lead to billions of pounds being invested in the UK in areas such as energy infrastructure, tech start-ups and public services. Reeves told the BBC that

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