UK. Pension industry backs Reeves’ £160bn corporate pension release
The pensions industry has said it is willing to back the Chancellor Rachel Reeves’ plans to unlock up to £160bn in corporate surpluses if retirees are given “appropriate protection” by the government. Reeves and the Prime Minister Keir Starmer are set to meet with business leaders in the City of London today to outline pension reforms aimed at driving economic growth. Under the changes, trapped surplus funds in so-called final salary pension schemes will be freed up for investment, while trustees will be given more...