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...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...
...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....
...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 part of chancellor Jeremy Hunt’s efforts to stimulate the economy by unlocking billions of pounds of retirement savings to invest domestically....
...The trustees in charge of Social Security, the government retirement programme, estimated last year that it would have to start cutting benefits in 2033, unless Congress raised the retirement age or levied...
...Funds such as the Pension Protection Fund, the UK’s £32bn-in-assets retirement scheme lifeboat, and Border to Coast Pensions Partnership, a £60bn local authority pool, are among those looking for bargains...
...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...
...For the moment, pension fund trustees in the UK are still not sure if they can prioritise the positive climate impacts of an investment at the expense of creating returns for beneficiaries, according to...
...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...
...millions of Britons to the world of investment and saving....
...or even hundreds of billions in fiscal savings....
...In 2011, encouraged by a work colleague and a registered financial adviser, Cornford, then an insurance broker, moved his £96,000 retirement savings pot....
...Adequacy challenge Few would dispute the need for Britain to act on its retirement savings crisis....
...Trustees need to be telling advisers what to do, rather than the other way around. Rory Murphy Chair of Trustees Merchant Navy Officers Pension Fund West Sussex, UK...
...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....
...Typically trustees would be the children’s parents or grandparents....
...The country’s four biggest retirement schemes have roughly maintained or increased their holdings of domestic equities in recent years....
...The scrapping last month of the northern sections of HS2 has triggered concerns about policy uncertainty around such long-term projects among pension trustees, who are being asked to consider tying up cash...
...“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?...
...The initial £50bn fund-of-funds would offer appropriate risk diversification to attract large pools of institutional capital, including pensions....
...“The challenge of the last decade was how to get people saving. And now the challenge for us is how do we make sure that they get the right value from their savings.”...
...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....
...Defined contribution pension funds, where retirement payments are based on investment returns, invest only 0.5 per cent of their estimated £500bn of assets in unlisted UK companies — limiting the pool of...
...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...
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