The Local Government Pension Scheme's (LGPS) 89 funds will be pooled into six British wealth funds to invest billions in infrastructure, the Chancellor has revealed.
Speaking at the Conservative Party annual conference this morning, George Osborne said the move would save "hundreds of millions in costs" and that the wealth funds would invest in regional infrastructure....
This week's edition of Professional Pensions is out now
MPs failed to place legislation into the Financial Guidance and Claims bill that would have made pension guidance default, which Just Group director Stephen Lowe said left a "bitter taste".
Aegon has called for the government to double the tax exemption on employer-arranged pension advice, up from £500 to £1,000.
Institutional investor confidence in Europe rose by 8.9 points in April with each region showing growing appetite for risk, according to State Street Global Exchange.