Rachel Reeves' proposal to create pension megafunds aims to consolidate local government pension pots, potentially releasing significant funds for investment in infrastructure projects.
A right-wing think tank praised Reeves' initiative, highlighting its potential to cut costs, yield better returns, and act as a substantial source of long-term investment.
By streamlining the 86 existing local government pension pots into professionally managed funds, the Treasury targets unlocking billions for critical infrastructure investment.
The Local Government Pension Scheme in England and Wales could manage assets worth around 500bn, aligning local government funds with broader investment opportunities.
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