The UK chancellor Rachel Reeves talks a lot about achieving better growth. And the latest figure – economic expansion in the last quarter of just 0.1% – suggests plenty of room for improvement.
The evening before that gloomy figure was announced, Reeves revealed her latest plan to get things moving – pension reform. And while there was some mention of potential benefits for actual pensioners, it’s clear that the main incentive for change is to channel more of their pension fund money into UK investment.
This will be done through two main sets of reforms. The first concerns the Local Government Pension Scheme (LGPS) for England and Wales, which has 6.7 million members and assets worth around £392 billion. Its members are mostly current and retired council employees – and mostly women.
