| There are better ways to improve the local government pension scheme (LGPS) than merging it into one big sovereign wealth fund, according to Labour peer Lord John Hutton. He warned it is a "mistake" for ministers to look at the LGPS as a future UK sovereign wealth fund (SWF) that could boost investment in infrastructure projects.
The former Labour minister said it could be a mistake to create what would be the fifth largest pension fund in the world and said we have to "tread carefully" with fund mergers. "It's a mistake to look at LGPS in that way as we have pension liabilities to pay out. But I do think this appetite for reform among ministers has not waned over the past few months. They're just waiting for the opportunity to get going with it."..............................................Full Article: Source
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