This Labour Government is going for growth – growth which is felt far and wide.
As Minister for Local Government, I know local government pension schemes do good work to support growth in the UK, and we know from our discussions with funds that there is so much more potential.
Merging Local Government Pension Scheme assets and consolidating defined contribution schemes into megafunds will boost people’s pension pots, deliver for members in retirement, and put the billions of pounds of investment unlocked into places members live and love.
Supporting the largest public sector pension schemes will drive national economic growth and bring back the benefits to Oldham West, Chadderton and Royton by freeing up money for local public services in the long-term and securing more than £20 billion for investment in local communities.
Jim McMahon OBE MP 