Workers could see £6,000 boost to pension pots under Government plans

Rachel Reeves said ministers were ‘making pensions work for Britain’ (Darren Staples/PA) - (PA Wire)

Millions of workers could see a £6,000 boost to their retirement pots as part of Government plans to double the number of UK pension megafunds by 2030.

Reforms in the Pension Schemes Bill propose that multi-employer defined contribution pension schemes and local government pension scheme pools operate at megafund level, managing at least £25 billion in assets within the next five years.