Jeremy Hunt to carry pension fund talks as main reforms loom

Jeremy Hunt will maintain talks on Wednesday with a number of the pensions trade’s high executives weeks earlier than he unveils reforms aimed toward jumpstarting retirement funds’ funding within the UK financial system.

Sky News understands that the chancellor will host a roundtable with corporations 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 stated 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 stated.

Treasury officers have been contemplating regulatory modifications to channel extra UK pension fund funding into riskier corporations equivalent to start-ups, the Financial Times reported.

Mr Hunt can also be contemplating guidelines aimed toward driving consolidation amongst pension schemes in an effort to enhance effectivity, the newspaper reported.

He shouldn’t be, nevertheless, considering forcibly mandating particular funding allocations by pension trustees.

Wednesday’s assembly may also be attended by corporations together with Legal & General.

The Treasury has been contacted for remark, whereas not one of the corporations contacted by Sky News would remark.