Pensions Minister Emma Reynolds announces Labour’s plans to create a pension “megafund” to help unlock billions of pounds of investment in businesses and infrastructure. She said, “we are looking at putting forward the biggest and boldest pension reforms in a generation”.
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00:00Because we have a £3 trillion pension industry, the third largest in the world,
00:06and we are putting forward tonight in the Mansion House speech the biggest reform of pensions in a generation
00:12to drive big pension mega funds to invest in big infrastructure projects and high growth companies
00:21and unlock £80 billion of additional investment and ultimately to benefit pension savers
00:27so that they have a better retirement income.
00:30So within weeks of taking office the Chancellor launched this landmark pensions investment review
00:37which I am leading and we are looking and putting forward this evening at Mansion House
00:43the biggest and boldest pension reforms in a generation to drive scale and consolidation
00:49bigger mega fund pension schemes that have the ability to invest in big infrastructure projects
00:56and also in high growth companies.