Britain’s government wants bigger pension funds
That will help savers but won’t boost growth much
Over the past decade of political turmoil, few goals of government policy have been quite so consistent as that of rationalising the country’s mishmash of pension schemes. In a speech in the City of London on November 14th Rachel Reeves, the chancellor, announced plans to consolidate local government pension schemes (LGPSs) into “megafunds”. Back in 2015 George Osborne, a previous chancellor, inaugurated his own push to merge them into “British wealth funds”.
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This article appeared in the Britain section of the print edition under the headline “Megafund pool party”
Britain November 23rd 2024
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From the November 23rd 2024 edition
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