What the new ‘pension megafunds’ plan by Rachel Reeves means for YOUR retirement

THE government is set to announce huge plans to create “pension megafunds” in a bid to boost both savers’ retirement pots and investment in the UK.

Chancellor Rachel Reeves will outline the plans to move around £800billion of pension savings into larger so-called “megafunds” in her first annual “Mansion House” speech this evening.

Local government pension schemes, which manage around £400billion of that cash...