Pension ‘megafunds’ to be created to boost investment and economic growth
Pension “megafunds” are set to be created to help unlock billions of pounds of investment in UK businesses and infrastructure.
Rachel Reeves will use her first Mansion House speech on Thursday as chancellor to outline what is billed as the biggest pensions shake-up in decades.
Consolidating assets into a handful of funds run by professional fund managers will allow them to invest more in infrastructure, supporting economic growth and local investment on behalf of the UK’s 6.7 million public servants, the government says.