Anthony Hilton: Push for pension merger
Saturday 08 September 2012
Government desperately wants to mobilise pension fund money to invest in infrastructure but seems unable or unwilling to take the steps to make it happen. Months of negotiations with and between the funds have produced an outline for a small scheme which might mobilise one or two billion pounds. It is a start but nothing like what is needed.
There is another way. Anthony Mayer is chairman of the biggest London-based public-sector fund, the £4bn London Pensions Fund Authority. But there are 34 other local authority funds in London, so he told his members on Tuesday how LPFA was trying to get them all to merge into one. This he says would create a £25bn-£30bn fund which would not only be significantly less costly to run, but would be big enough to have its own infrastructure fund.
But progress is slow because turkeys rarely vote for Christmas, even if it is a good idea. It badly needs political support to push it through. But thus far there has been little sign of it.
- 1 Raif Badawi, the Saudi Arabian blogger sentenced to 1,000 lashes, may now face death penalty
- 2 PornHub turns masturbation into energy in bid to save the planet
- 3 Robert Mugabe eats a zoo for 'obscene' 91st birthday party
- 4 The remarkable archaeological underwater discovery that could open up a new chapter in the study of European and British prehistory
- 5 The jihadi girls who went to Syria weren't just radicalised by Isis — they were groomed
End of the licence fee: BBC to back radical overhaul of how Corporation is funded
Stephen Hawking's wife Jane Wilde on their marriage breakdown: 'The family were left behind'
Raif Badawi, the Saudi Arabian blogger sentenced to 1,000 lashes, may now face death penalty
PornHub turns masturbation into energy in bid to save the planet
With money, corruption and drugs, this monk fears Buddhism in Thailand is a ‘poisoned fruit’
New theory could prove how life began and disprove God
This is what it's like to be dead, according to a guy who died for a bit
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Ukip would cut billions from Scottish budget to fund English tax cuts
Russia's roadmap for annexing eastern Ukraine 'leaked from Vladimir Putin's office'
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
iJobs Money & Business
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...
£250-£300 Day Rate: Jemma Gent: Are you a qualified accountant with strong exp...
£230 - £260 Day Rate: Jemma Gent: Do you want to stamp your footprint in histo...