Rachel Reeves proposal to consolidate local authority pension plans into a small number of 'megafunds' seems sensible & draws lessons from Australia & Canada.

But, what will be key is how she shapes (or doesn't shape) any investment strategy requirements.

If she seeks to use the £360bn in assets to back her favoured ventures, there is an interesting issue about the fiduciary responsibility of scheme trustees to their members; Much will depend on the detail

#pensions #investment
h/t Guardian