William Eichler 11 November 2024

Reeves to call for consolidation of £354bn council pension funds

Chancellor Rachel Reeves is set to announce plans to encourage more consolidation among the UK's local government pension funds to reduce costs and boost infrastructure investment.

During her Mansion House speech on Wednesday, the Chancellor is expected to encourage more pooling of local government pension funds, which are valued at £354bn – in theory the seventh-largest pension scheme in the world.

Reeves has ruled out merging the 86 separate local council pots in England and Wales into a single ‘super fund’, but she believes more consolidation will reduce administration costs and enhance investment in British infrastructure.

Currently, about half of Local Government Pension Scheme (LGPS) assets are run across eight pools.

#Infrastructure #Pensions #Investment

Analysis

Local Elections: What voters really want from their councils

With voters heading to the polls tomorrow, a recent YouGov survey reveals what local issues matter most — and the answers are not always what you might expect.

Opinion

How a fair competition process with community involvement can have a lasting impact

How the Grenfell Memorial process shows RIBA competitions uniting communities, the Government and experts to create a lasting legacy.

Most Popular News

Local Elections 2026: Results show Reform surge and Labour losses

All change: Reform UK projected to make huge gains as local elections get underway

Reform councillor believed to have stood down following allegations

Reform-led Lancs council to pull out of refugee resettlement scheme

Mayor steps into chief executive row with Reform UK councillors

New Products

Safeguarding Children - the AAT Way

MSL enhances hygiene auditing with air quality testing for Awaab’s Law compliance

Cadcorp launches Mapestry

Bolton Council Upgrades 120+ School Crossings with Smart CMS Control by Lucy Zodion

NEC CONTRACTS HAS GONE DIGITAL: PAPERLESS, TO GIVE YOU MORE

Vent-Axia Delivers Social Housing a Smart Ventilation Solution Ahead of Awaab’s Law

New remotely lockable cabinet will help manage medication for people with mental health issues

Case Studies

Acrospire Delivers Durable Handrail Lighting Upgrade for Historical Landmark Jacob’s Ladder

Acrospire Delivers Seamless Heritage Lighting Upgrade on Bath’s North Parade Bridge

Acrospire Delivers Retrofit Lighting for Newbridge’s Joe Calzaghe Footbridge

Acrospire Delivers PIR-Controlled Lighting at Ruislip Lido Car Park

Spennymoor Market Place and Consett Middle Street revitalised using Thorn Lighting’s Thor Lanterns and Customisable Gobo Projectors

Acrospire Partners with Bath & North East Somerset Council to Illuminate Historic Film Location with LED Upgrade

Believ to install 22 charge points across Redcar and Cleveland

Company Anouncements

Vent-Axia Welcomes the Future Homes Standard as Competency Takes Centre Stage

Apricorn Becomes First and Only Hardware-Encrypted USB Storage Device Manufacturer to Achieve AS9100 Certification

AAT helps Councils step up to address children’s social care

CU Phosco Approved as a Crown Commercial Service Supplier

Acrospire triumphs at the 2025 HEA Awards with Sustainable Project of the Year

TRT Lighting retrofit helps Lincolnshire County Council cut street lighting energy use by over 65%

Vent-Axia Welcomes Healthy Homes Standard

Administrative Support Assistant

Grade 4 £25,583 - £26,824

Are you organised, proactive, and great at building relationships? Do you enjoy keeping things running smoothly behind the scenes? This is your chance Durham