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 Russell Brand says he will 'probably' give up acting to focus on his revolution
- 2 Watch what happened when food critics were unknowingly served McDonald's
- 3 David Beckham's Haig Club whisky is exactly what’s wrong with the Highlands
- 4 Queen's first tweet: Reply telling Her Majesty to 'f*** off' broadcast on BBC News
- 5 #AskNigelFarage: Twitter starts hilarious Q&A for Ukip leader
Of course, teenage girls need role models – but not like beauty vlogger Zoella
Support for EU membership 'at highest level since 1991' with most Brits wanting to stay 'in'
Tony Blair 'says Ed Miliband will lose 2015 general election'
Thousands with degenerative conditions classified as 'fit to work in future' – despite no possibility of improvement
Putin: The US is to blame for almost all the world's major conflicts
Attacks on 'Ukip Calypso' show how skewed people’s priorities are
iJobs Money & Business
£60000 per annum: Ashdown Group: Compensation and Benefits Manager - Compensat...
£30000 - £35000 Per Annum plus excellent benefits: Clearwater People Solutions...
£24000 - £28000 per annum + bonus & benefits: Ashdown Group: IT Business Syste...
£50000 - £90000 per annum + benefits: Ampersand Consulting LLP: Markit EDM (CA...