The UK's new Chancellor, Rachel Reeves, has unveiled a comprehensive plan aimed at boosting economic growth and improving pension returns. The Labour government has initiated a review of the pension system, encouraging town halls to use their pension funds to fuel growth. The plan includes meeting with pension industry leaders on Monday to discuss potential reforms and aims to unlock billions of pounds in UK investment. Reeves has also promised to increase some retirement incomes by over £11,000. This initiative comes amid challenging economic conditions, as Reeves seeks to spread prosperity and drive investment.
