A new cross-party parliamentary group has been set up to discuss the role local authority pensions can play in the development of British wealth funds.
The new group will enable local authority pension fund managers to explain to Government how pension fund money can be best invested to generate local growth, housing and infrastructure.
Chair of the new APPG, Clive Betts, said: ‘Local authority pension funds are off the radar for most parliamentarians, yet their role as pension providers and investors in the UK in new British wealth funds is critical.
‘Parliament needs to better understand what local authority pension funds can offer the country. They also need to be aware of what planned changes to the investment regulations mean, not least for local constituents.’