Plans for pension ‘megafunds’ unveiled to boost growth and reward British savers - In her first Mansion House speech as Chancellor, Rachel Reeves announced plans for megafunds which she said could unlock £80 billion for investment.

A government plan to use people's pension savings to boost economic growth has broad public support, new research reveals. Do YOU think it's a good idea - take our poll.

Britain wants to build a slew of “megafunds” with up to £80bil or about US$102bil in fresh investment firepower, under plans for the biggest shake-up in pensions seen in decades, Finance Minister Rachel Reeves says.

Chancellor of the Exchequer Rachel Reeves said the UK will introduce legislation next year to pool £1.3 trillion ($1.7 trillion) of pension savings into a series of “megafunds,” as the new Labour government tries to deliver on its pledge to boost private investment and economic growth.

New plans will see the 86 authorities managing local government pension schemes pooling their assets into a smaller number of 'megafunds'.

Britain wants to build a slew of "megafunds" with up to 80 billion pounds ($102 billion) in fresh investment firepower, under plans for the biggest shake-up in UK pensions seen in decades, finance minister Rachel Reeves said on Wednesday.

The UK government is set to implement major reforms in the pension sector by consolidating assets into “pension megafunds,” aimed at unlocking investment for critical infrastructure and fast-growing businesses.