London It sounds almost too good to be true: British Treasury Secretary Jeremy Hunt promises future retirees in the UK to increase their retirement income by around £1,000 (about €1,170) a year. The conservative politician wants to achieve this through a reform of the investment rules for British pension funds, which Hunt presented on Monday evening in his traditional “Mansion House” speech to representatives of the London financial industry.
In the future, pension funds should invest five percent of their investments in start-ups or private equity companies that are not listed on the stock exchange. According to calculations by the Treasury Department, this could generate around £50 billion in venture capital. Nine major pension funds in the UK want to take advantage of the voluntary offer and adjust their investment plans by 2030.
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