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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.
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