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The UK government, under Prime Minister Keir Starmer, is undertaking a comprehensive review of the pension system to drive investment into productive assets, aiming to enhance economic growth and retirement incomes. This initiative, part of a series of reforms, includes a new Pensions Schemes Bill to encourage consolidation of smaller schemes and diversify investment strategies, potentially boosting pension pots by over £11,000. The review also targets enhancing the investment potential of the £360 billion Local Government Pensions Scheme by considering consolidation and reducing fragmentation. Chancellor Rachel Reeves and Pensions Minister Emma Reynolds are leading the effort, with a focus on gilt market stability and potential legislative measures if progress is insufficient by March 2025.
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- Last Updated
- 62 days ago
- Bias Distribution
- 100% Center
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