The review comes as part of the government's mission to "boost growth and make every part of Britain better off".With pension schemes expected to manage about £800 billion by 2030, the review will look at how they can be encouraged to invest in productive assets such as infrastructure. The Treasury said the move would ensure better returns for savers, increasing the average pension pot by more than £11,000.
Ms Reeves and Ms Reynolds will chair a meeting with the pensions industry on Monday to discuss the review, before the Chancellor chairs the first "Growth Mission Board" on Tuesday. Other measures being considered include further consolidation of the Local Government Pension Scheme for England and Wales, which is currently split across 87 funds and pays £2 billion a year in fees alone.