Rachel Reeves Plans ‘Canada-Style’ Pension Funds, Times Reports

The UK government is considering the consolidation of multiple local government pension plans to pool their £360 billion ($458 billion) of assets and create a ‘Canada-style’ model, according to the Times newspaper.

Chancellor Rachel Reeves, who is meeting with the head of Canada’s largest pension funds in Toronto on Wednesday, believes a single fund will drive investment into infrastructure projects and generate higher returns. The consolidation is also designed to cut costs and fees, the paper reported.