Pensions industry, Rachel Reeves, Politics, UK news, Business, Pensions, Labour Business | The Guardian
Chancellor to tell City leaders of Canada-style plan to pool assets for benefit of long-term investmentRachel Reeves will announce plans to merge local government retirement schemes into “megafunds” as she tries to revive long-running efforts to overhaul the UK’s public pension system.The chancellor will tell an audience of City leaders and chief executives on Thursday that she will introduce a new pensions bill next year that will aim to pool assets from the 86 separate local government pension schemes (LGPS), which together represent one of the world’s largest defined-benefit schemes, with 6.5 million members and £360bn in assets. Continue reading…
Chancellor to tell City leaders of Canada-style plan to pool assets for benefit of long-term investment
Rachel Reeves will announce plans to merge local government retirement schemes into “megafunds” as she tries to revive long-running efforts to overhaul the UK’s public pension system.
The chancellor will tell an audience of City leaders and chief executives on Thursday that she will introduce a new pensions bill next year that will aim to pool assets from the 86 separate local government pension schemes (LGPS), which together represent one of the world’s largest defined-benefit schemes, with 6.5 million members and £360bn in assets.
