Reform’s sovereign wealth pitch risks raiding pensions not reviving growth

Reform’s sovereign wealth pitch risks raiding pensions not reviving growth

Reform’s Richard Tice’s plan to consolidate local council pension schemes fundamentally misunderstands the nature of fiduciary duty, says Tim Focas Behind the rhetoric of Reform’s proposal to consolidate local council pension schemes into a near £500bn sovereign wealth fund lies a major misunderstanding of what these pension assets are and who they exist to serve. Local Government Pension Scheme funds are not spare cash sitting idly on the sidel…