In her first Mansion House speech as Chancellor, Rachel Reeves announced plans for megafunds which she said could unlock £80 billion for investment.

THE government is set to announce huge plans to create “pension megafunds” in a bid to boost both savers’ retirement pots and investment in the UK. Chancellor Rachel Reeves will

Rachel Reeves is set to unveil plans to merge local government pension scheme assets and consolidate defined contribution schemes into ‘megafunds’.

Unlock significant investment in high-growth businesses with the Chancellor's plan to create 'megafunds' for pension consolidation.

The House passed House Resolution 82, the Social Security Fairness Act of 2023, on Tuesday, Nov. 12. H.R. 82 aims to eliminate two provisions in the United States, including the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO).

Chancellor Rachel Reeves is planning what she calls the "biggest pension reform in decades" in an attempt to boost economic growth. The government wants to merge the UK's 86 council pension schemes into a handful of "pension megafunds".

Chancellor of the Exchequer Rachel Reeves said the UK will introduce legislation next year to pool £1.3 trillion ($1.7 trillion) of pension savings into a series of “megafunds,” as the new Labour government tries to deliver on its pledge to boost private investment and economic growth.

Rachel Reeves will tear up workplace pension rules as part of a broader shake-up that the Chancellor claims will unlock up to £80bn in investment.

The chancellor wants to merge the UK's pension funds, but critics worry about the impact on savers.

Chancellor Rachel Reeves is to set out what she is calling the "biggest pension reform in decades" in an attempt to boost growth. The government wants to merge the UK's 86 council pension schemes into a handful of "pension megafunds".