In Rachel Reeves’s Mansion House speech, she has unveiled her plans to consolidate the 86 funds of the Local Government Pension Scheme (LGPS) into a small number of “mega-funds”. There has already been some consolidation under previous administrations,

Chancellor Rachel Reeves wants to copy the way Canada and Australia group their pension funds together in a bid to increase investment. The government believes this could bring in an extra £80bn of funding.

Chancellor Rachel Reeves will use her first Mansion House speech to set out radical reform of pension system that could turbo-charge investment