Jeremy Hunt will maintain talks on Wednesday with a number of the pensions trade’s high executives weeks earlier than he unveils reforms geared toward jumpstarting retirement funds’ funding within the UK economic system.
Sky News understands that the chancellor will host a roundtable with firms together with Aegon, Aviva and Scottish Widows.
The assembly will come a fortnight earlier than the annual Mansion House dinner at which Mr Hunt will current a package deal of measures to bolster monetary service’s competitiveness.
An trade supply mentioned the chancellor was anticipated to speak about his concern that returns for British pensioners are decrease than worldwide friends.
“The UK has £3tn of investable pension assets – even a small percentage being diverted into UK assets would boost growth and returns for policyholders,” the supply mentioned.
Treasury officers had been contemplating regulatory adjustments to channel extra UK pension fund funding into riskier firms equivalent to start-ups, the Financial Times reported.
Mr Hunt can be contemplating guidelines geared toward driving consolidation amongst pension schemes to be able to enhance effectivity, the newspaper reported.
He just isn’t, nevertheless, considering forcibly mandating particular funding allocations by pension trustees.
Wednesday’s assembly will even be attended by firms together with Legal & General.
The Treasury has been contacted for remark, whereas not one of the firms contacted by Sky News would remark.
Source: information.sky.com”