Latest news with #pensionreforms
The Independent
29-05-2025
- Business
- The Independent
Millions could receive £6,000 in pension pots under ‘megafund' reform plans
The UK government plans to double the number of UK pension megafunds by 2030, potentially boosting millions of workers' retirement pots by £6,000. Reforms in the Pension Schemes Bill propose that multi-employer defined contribution pension schemes and local government pension scheme pools operate at megafund level, managing at least £25 billion in assets within the next five years. The Treasury hopes this will result in a £50 billion investment in infrastructure projects, boosting the economy and driving up higher returns for savers. Chancellor Rachel Reeves stated the reforms mean better returns for workers and billions more invested in clean energy and high-growth businesses. Former pensions minister Sir Steve Webb described it as a 'truly a red letter day for pension schemes The schemes are expected to save £1 billion a year through economies of scale and improved investment strategies, the Treasury said.
Times
20-05-2025
- Politics
- Times
Yes, pension funds should be investing more in UK productive assets
A few days ago I was chatting over dinner to one of the UK's top businessmen and he asked me a simple question: 'How many tens of billions have been lost to the economy as a result of the pension reforms after Maxwell?' It set me thinking. Maxwell was Robert Maxwell, the Czech-born one-time military hero, Labour MP and media proprietor sometimes nicknamed the 'bouncing Czech'. I once worked for him and he was certainly a presence. In November 1991, Maxwell went overboard from his yacht the Lady Ghislaine, near the Canary Islands, and drowned in circumstances that remain mysterious. The yacht was named after Ghislaine, his daughter, now serving a long US prison sentence for offences related to the activities of Jeffrey Epstein. Maxwell's
