Will UK pension reform help alternatives managers?
The UK government wants to beef up its pensions sector to compete with the biggest players from the US and Australia.
Expert analysis by John Bakie
British chancellor Rachel Reeves announced a raft of reforms to the UK pensions sector on Thursday, which she claimed was the biggest shake-up in decades. She plans to merge the UK’s 86 local government schemes into what she called “pension mega-funds” and further suggested that private sector defined contribution pension schemes were also “too small” and should be consolidated.
She cited schemes such as Australia’s large superannuation funds and significant public sector funds in the US and Canada as examples of what she believes the UK pensions market could look like in the future...