Pension schemes will be pushed to pool their assets in “superfunds” as part of government plans to divert more of the country’s retirement cash into the economy and boost returns for savers, ministers have announced.
In the King’s Speech today, Sir Keir Starmer set out plans to introduce a pension schemes bill over the next session of parliament that will aim to deliver “better outcomes” from pension savers and “support the government’s mission to deliver growth”.
Central to the plans will be a push to bring more of the UK’s fragmented pension system into consolidated superfunds in a bid to unlock investment into a wider range of assets, the government said.
“Pension schemes can, and do, play a significant role in supporting the UK economy but there is potential for them to play a more significant role,” the government…
