British Treasury chief Rachel Reeves is set to announce plans later Thursday to merge dozens of pension funds with the aim of unlocking tens of billions of pounds for investment and boosting the U.K.’s sub-par economic growth.

Unlock significant investment in high-growth businesses with the Chancellor's plan to create 'megafunds' for pension consolidation.

Chancellor Rachel Reeves is set to unveil a proposal to consolidate £400bn of UK local authority pension schemes.

Chancellor of the Exchequer Rachel Reeves said the UK will introduce legislation next year to pool £1.3 trillion ($1.7 trillion) of pension savings into a series of “megafunds,” as the new Labour government tries to deliver on its pledge to boost private investment and economic growth.

The chancellor will use her maiden Mansion House speech to unveil what she calls the "biggest pension reform in decades". How will her plans affect your retirement savings?

THE government is set to announce huge plans to create “pension megafunds” in a bid to boost both savers’ retirement pots and investment in the UK. Chancellor Rachel Reeves will

New plans will see the 86 authorities managing local government pension schemes pooling their assets into a smaller number of 'megafunds'.

Britain wants to build a slew of "megafunds" with up to 80 billion pounds ($102 billion) in fresh investment firepower, under plans for the biggest shake-up in UK pensions seen in decades, finance minister Rachel Reeves said on Wednesday.

Pension ‘megafunds’ to be created to boost investment and economic growth - Biggest shake-up in decades to retirement schemes will involve consolidating assets of multi-employer schemes