The government should create pension superfunds to invest in infrastructure and support economic recovery as Britain emerges from the pandemic, a report suggests.
Building roads, power sources and communication networks would boost local businesses and help to create jobs, the Social Market Foundation think-tank said.
To finance such projects, ministers should encourage pension funds to merge so that they are able to make large investments in ambitious, long-term projects that contribute towards the green economy. Although the government has launched consultations into pension consolidation in the past, there has been very little progress.
Researchers looked at similar initiatives in Australia and Canada, where “superfunds” have successfully delivered infrastructure investments.
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