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...The chancellor believes a bigger allocation to private market assets by retirement funds, alongside other pension reforms, could boost retirement income for average earners by £1,000 a year....
...Any discussion about how to attract more investment into UK infrastructure, start-ups or equities now involves Britons’ retirement savings....
...Similarly, Doug Brodie, founder and chief executive of Chancery Lane Retirement Income Planning, says: “The maths is simple — if you have full state pension of £10,602, you have £1,969 tax-free allowance...
...Fink described the mismatch between what Americans were saving and what they would need for retirement as “a problem so big and urgent that government and corporate leaders [need to] stop business as usual...
...Christine Muller is 31 and lives in York, where she works as an occupational therapist at the local authority....
...In his Budget, Hunt confirmed new measures that require local authority pension funds and private sector retirement plans to disclose their UK investments....
...These are risks that every private pension scheme and sovereign wealth fund faces today. But for these risks, such funds have been rewarded over long-term horizons....
...“It is shocking that pension savers have been left in limbo for so long, facing huge stress and in fear of losing a significant chunk of their retirement savings,” said Jenny Ross, editor of Which?...
...In private, though, the pensions industry questions the government’s ability to achieve this goal in a way which does not put pensioners’ savings at risk....
...Pension savers are to be given the legal right to ask their employer to pay into a retirement fund of their choice under the changes....
...The Labour party will conduct a sweeping review of the UK’s pension system to find ways of unlocking billions of pounds worth of retirement fund capital for the country’s growth if it wins the next general...
...The business was purchased in 2018 by Blackstone Core Equity Partners, a long-hold buyout fund whose investors included Canada Pension Plan, NY State Common Retirement Fund, North Carolina Retirement Systems...
...The country’s four biggest retirement schemes have roughly maintained or increased their holdings of domestic equities in recent years....
...At the same time, there is pushback from local residents who do not want the vast structures in their backyard.Joan Groizard Payeras, head of Spain’s Institute for Diversification and Energy Saving (IDAE...
...Spending on healthcare and local governments will be protected from the cuts, said Le Maire. A revised budget could be proposed in the summer if more savings are needed....
...Hunt claimed his so-called Mansion House reforms could deliver an extra £1,000 a year in retirement income for today’s young savers and unlock up to £75bn in pension savings to invest in the UK economy....
...Such funds should not be forced to invest in the UK. But they should be able to see — and seize — local opportunities far better than outsiders....
...last to come back, can typically take anything from two to six weeks to arrive depending on the relevant local authority....
...Hunt will use his “Mansion House reforms” to attempt to boost the UK economy by channelling pensions savings towards potentially higher growth, illiquid assets and pushing smaller funds to consolidate in...
...So, give some advance thought to downsizing to free up funds or renting out a room in retirement. You also might find more creative solutions. Could you host students? Join a retirement community?...
...The writer is a former global head of asset allocation at a fund manager The reforms outlined by UK chancellor Jeremy Hunt in July to revitalise the British economy by channelling savings in a better way...
...The think-tank proposes tackling the pension savings crisis first. Millions of people on defined contribution schemes are heading towards an inadequate retirement income in the coming decades....
...So I will introduce new requirements for DC and local government pension funds to disclose publicly their level of international and UK equity investments....
...Government officials have in recent weeks examined proposals that would enable employers with defined benefit schemes to more easily access any surplus accumulated in the retirement funds through investing...
...The pension fund looking after the retirement savings of Britain’s MPs and ministers has given the cold shoulder to UK companies, in spite of efforts by chancellor Jeremy Hunt to funnel more cash into domestic...
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