Pension "megafunds" are set to be created to help unlock billions of pounds of investment in businesses and infrastructure.Rachel Reeves will use her first Mansion House speech as Chancellor to outline the pensions shake-up.Under the plans, the reforms will be introduced through a new Pension Schemes Bill next year, consolidating defined contribution schemes and pooling assets from 86 local government pension scheme authorities.The Local Government Pension Scheme in England and Wales will manage

Pension "megafunds" are set to be created to help unlock billions of pounds of investment in businesses and infrastructure.Rachel Reeves will use her first Mansion House speech as Chancellor to outline the pensions shake-up.Under the plans, the reforms will be introduced through a new Pension Schemes Bill next year, consolidating defined contribution schemes and pooling assets from 86 local government pension scheme authorities.The Local Government Pension Scheme in England and Wales will manage assets worth around £500 billion by 2030.