England announced that mega retirement funds will be established that will create an investment potential of 80 billion pounds in the country.
The UK Ministry of Finance is preparing to implement the largest retirement reform in the last 10 years in the country. Within this scope, mega retirement funds will be established that will create an investment potential of approximately 80 billion pounds, including infrastructure and local projects. The reforms will be implemented with a new Pension Plans Act planned to come into force next year, and the assets of 86 Local Government Pension Plan authorities will be brought together and transformed into a mega fund. The assets of Local Government Pension Scheme authorities in England and Wales are set to reach £500 billion by 2030, while the size of their contribution funds is expected to rise to £800 billion by 2030.
