Reeves to announce ‘megafunds’ shake-up of local government pension scheme | Pensions industry

Reeves to announce ‘megafunds’ shake-up of local government pension scheme | Pensions industry

Rachel Reeves will announce plans to merge native authorities retirement schemes into “megafunds” as she tries to revive long-running efforts to overtake the UK’s public pension system. The chancellor will inform an viewers of Metropolis leaders and chief executives on Thursday that she is going to introduce a brand new pensions invoice subsequent 12 months … Read more

Reeves to force UK council pensions to consolidate into eight ‘megafunds’

Reeves to force UK council pensions to consolidate into eight ‘megafunds’

Keep knowledgeable with free updates Merely signal as much as the Pensions business myFT Digest — delivered on to your inbox. UK chancellor Rachel Reeves is to legislate to develop eight pension “megafunds” as a part of reforms to Britain’s fragmented native authorities retirement scheme that she claims may unlock £80bn of funding. However the … Read more