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'Big bang' theory for pension funds
Sunday Express
|July 21, 2024
CHANCELLOR Rachel Reeves will tomorrow meet leading figures from the world of finance to discuss how pension funds worth £800billion can be used to turbocharge the economy.
She has dubbed the measures a "big bang", in an echo of the phrase used to describe Tory Prime Minister Margaret Thatcher's reforms to financial markets in the 1980s.
The Government wants defined-contribution pension funds to invest more in "productive assets", which can include infrastructure, industry and property.
It claims this could give the average retiree an extra £11,000 in their pension pots while helping the UK achieve the highest rate of economic growth in the G7.
This story is from the July 21, 2024 edition of Sunday Express.
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