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The Economist
The Economist
18 Nov 2024


NextImg:Britain’s government wants bigger pension funds
Britain | Megafund pool party

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 mish-mash 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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