UK set to create new pension megafunds with aim of unlocking $100 billion for investment

  • 📰 wjxt4
  • ⏱ Reading Time:
  • 63 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 29%
  • Publisher: 63%

Business Nachrichten

Deutschland Neuesten Nachrichten,Deutschland Schlagzeilen

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

Read full article: #FluVaxJax: How to get a voucher for a free flu shot if you don't have health insuranceMake household chores easier and more with these Insider DealsThis $23 scarf is the ultimate accessory for people who refuse to be cold and boringNext photo

Britain's Chancellor of the Exchequer, Rachel Reeves, holds up the traditional red ministerial box containing her budget speech, as she poses for the media outside No 11 Downing Street, before departing to the House of Commons to deliver the budget in London, Wednesday, Oct. 30, 2024. Britain's Prime Minister Keir Starmer and Chancellor Rachel Reeves speak with members of staff, during a visit to University Hospital Coventry and Warwickshire, in Coventry, England, Thursday, Oct.

The proposed merger of 86 local authority pension funds in England and Wales has echoes with schemes undertaken in Australia and Canada, where pension funds are widely seen to have taken advantage of their bigger size to invest in assets and boost growth. By 2030, the new Local Government Pension Scheme in England and Wales is set to manage assets worth around 500 billion pounds by 2030.

“Larger pension schemes can help achieve better outcomes for savers through economies of scale, stronger governance, negotiating power and additional resources," said Zoe Alexander, director of policy and advocacy at the Pensions and Lifetime Savings Association, an organization that seeks to bring the industry together and promote best practice.

 

Vielen Dank für Ihren Kommentar.Ihr Kommentar wird nach Prüfung veröffentlicht.
Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

 /  🏆 246. in DE

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen