Rolling coverage of the latest economic and financial newsReeves to announce ‘megafunds’ shake-up of local government pension schemeTracy Blackwell, chief executive of Pension Insurance Corporation, has backed Rachel Reeves’s pension reforms, as “a step in the right direction”.Blackwell told BBC Radio 4’s Today programme that new pension “megafunds” will benefit the taxpayer.“We think it’s a really important step in the right direction. It really mirrors what has already happened in the defined benefit private sector world.“We can use our economies of scale and expertise to invest in complex projects in the UK. Continue reading...