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The Guardian - UK
The Guardian - UK
Business
Kalyeena Makortoff Banking correspondent

Why does Rachel Reeves want to copy Canada’s pensions model?

Rachel Reeves Canada United Kingdom LGPS DWP the Pensions and Lifetime Savings Association
Chancellor Rachel Reeves visits New York on 5 August. On Wednesday she is due to meet the bosses of Canada’s biggest retirement schemes in Toronto.
Chancellor Rachel Reeves visits New York on 5 August. On Wednesday she is due to meet the bosses of Canada’s biggest retirement schemes in Toronto. Photograph: Kirsty O’Connor/Treasury

The chancellor, Rachel Reeves, met the bosses of Canada’s big retirement schemes in Toronto on Wednesday, prompting speculation that Labour is planning to bring the country’s public pension model to the UK. But what would that entail and could such a change actually work?

How is a Canadian-style pension scheme different from the UK model?

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