Published 08/07/2024 5:24:00 p.m.

Chancellor eyes Canada-style pension reform to drive UK investment

Chancellor Rachel Reeves will meet pension scheme leaders in Toronto to explore a Canadian-style model for UK retirement funds to invest in equities and infrastructure.
She is considering consolidating local government pension schemes to utilize their £360 billion for economic investment.
Reeves states, “I want British schemes to learn lessons from the Canadian model... Unlock billions of pounds of investment.

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The Independent

Rachel Reeves says Canadian model for pension funds can ‘fire up’ UK economy

The chancellor has called on schemes to join together and invest billions in Britain as she tries to hit her growth targets.

08/07/2024 10:50:44 a.m.·London, United Kingdom

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Sky News UK

Chancellor eyes Canada-style pension reform to drive UK investment

Rachel Reeves said she wanted to "learn lessons" from Canada's model to help "fire up the UK economy". It comes after she launched a review into the pensions sector last month.

08/07/2024 1:26:00 p.m.·United Kingdom

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The Epoch Times

Chancellor Eyes ‘Canadian Model’ Pension to Boost UK Economy

The government is hoping to adopt “the Canadian model” pension schemes to help “fire up the UK economy,” Chancellor of the Exchequer Rachel Reeves said on Wednesday. The size of Canadian pension schemes means they can “invest far more” than their British counterparts, Reeves said. The chancellor made the remarks before hosting a roundtable in Toronto with Canada’s so-called Maple 8 group of retirement funds. Funds like the Ontario Teachers’ Pens…

08/07/2024 4:35:25 p.m.·New York, United States

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City AM

Reeves: UK pension funds should follow Canadian model to ‘unlock billions’

Rachel Reeves wants UK pension funds to “unlock billions” in investment and deliver for British savers by following the Canadian model. The Chancellor is considering consolidating local government pension schemes – currently fragmented into 86 individual funds and 6m members – to pool their £360bn of resources. It comes as she met with the so-called Maple Eight group of Canadian retirement funds at a roundtable in Toronto on Wednesday, during a …

08/07/2024 6:32:45 p.m.·London, United Kingdom

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Financial Times

Rachel Reeves to announce plans to create ‘Canadian-style’ pension model

Chancellor to meet big pension bosses in Toronto as part of push to unlock investment from local UK schemes

08/06/2024 11:01:07 p.m.·London, United Kingdom

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Nation.Cymru

Rachel Reeves targets Canada-style pension model in UK

Chancellor Rachel Reeves. Pic: Dominic Lipinski PA The Government is considering consolidating local government pension schemes to pool their £360 billion of resources into a model similar to that of Canada. Chancellor Rachel Reeves is meeting representatives of the so-called Maple Eight group of Canadian retirement funds in Toronto on Wednesday. Funds like the Ontario Teachers’ Pension Plan and the Canada Pension Plan are significant infrastruc…

08/07/2024 10:51:08 a.m.

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