The UK government plans to combine £1.3 trillion of pension savings into large investment funds called "megafunds" in order to boost economic growth.

Chancellor Rachel Reeves aims to address the country's low investment levels by redirecting retirement savings into productive investments.

This initiative seeks to consolidate pension assets into fewer, larger funds, unlocking private capital for infrastructure projects and support for startups. It is expected to stimulate economic activity and create a stronger investment landscape in the UK.