UK Government Looks Into Consolidating Private Pension Funds
- Chancellor Hunt plans reforms to unlock business investment
- UK defined contribution funds manage £550 billion off assets
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The UK government is considering proposals to pool private sector defined contribution pension plans in a bid to unlock investment in British industry, Chancellor of the Exchequer Jeremy Hunt said.
Pension fund reform is “the big reform that now needs to happen,” Hunt told reporters at the International Monetary Fund’s spring meetings in Washington. “We do need to see consolidation.”