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.

A government plan to use people's pension savings to boost economic growth has broad public support, new research reveals. Do YOU think it's a good idea - take our poll.

The chancellor wants to merge the UK's pension funds, but critics worry about the impact on savers.

Rachel Reeves will tear up workplace pension rules as part of a broader shake-up that the Chancellor claims will unlock up to £80bn in investment.

Chancellor Rachel Reeves is to set out what she is calling the "biggest pension reform in decades" in an attempt to boost growth. The government wants to merge the UK's 86 council pension schemes into a handful of "pension megafunds".