Chancellor Eyes ‘Canadian Model’ Pension to Boost UK Economy

The government is hoping to adopt “the Canadian model” pension schemes to help “fire up the UK economy,” Chancellor of the Exchequer Rachel Reeves said on Wednesday. The size of Canadian pension schemes means they can “invest far more” than their British counterparts, Reeves said. The chancellor made the remarks before hosting a roundtable in Toronto with Canada’s so-called Maple 8 group of retirement funds. Funds like the Ontario Teachers’ Pension Plan and the Canada Pension Plan are significant infrastructure investors, from which Reeves has said she wants UK schemes to learn. England and Wales’s local government pension scheme is fragmented into 86 individual funds, across about six million members....