Pensions

UK set to create new pension megafunds with aim of unlocking £80bn for investment

Britain’s prime minister Keir Starmer and chancellor Rachel Reeves speak with members of staff during a visit to University Hospital Coventry and Warwickshire
Britain’s prime minister Keir Starmer and chancellor Rachel Reeves speak with members of staff during a visit to University Hospital Coventry and Warwickshire Photo: AP/Darren Staples

British Treasury chief Rachel Reeves is set to announce plans on 14 November to merge dozens of pension funds with the aim of unlocking tens of billions of pounds for investment and boosting the UK’s sub-par economic growth.

In comments released by the Treasury ahead of her speech to finance leaders in central London, Reeves will say that the creation of so-called “megafunds” will represent the “biggest pension reform in decades.”

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