Rachel Reeves has told City chiefs she plans to create pension "megafunds" that will "power growth" in the economy and reward British savers.In her first Mansion House speech as Chancellor, Ms Reeves announced plans for the megafunds which she said could bring in £80 billion to invest in businesses and infrastructure.The reforms will be introduced through a new Pension Schemes Bill next year, consolidating defined contribution (DC) schemes and pooling assets from 86 local government pension sche

Rachel Reeves has told City chiefs she plans to create pension "megafunds" that will "power growth" in the economy and reward British savers.In her first Mansion House speech as Chancellor, Ms Reeves announced plans for the megafunds which she said could bring in £80 billion to invest in businesses and infrastructure.The reforms will be introduced through a new Pension Schemes Bill next year, consolidating defined contribution (DC) schemes and pooling assets from 86 local government pension scheme authorities.