- Rachel Reeves will meet major Canadian pension funds in Toronto.
- Aim to secure support for ‘big bang’ pension reforms.
- Trip includes visits to New York and Brazil for the G20 summit.
Rachel Reeves, the Chancellor, plans to engage with major Canadian pension funds next month in Toronto, including the Canada Pension Plan Investment Board (CPPIB), Ontario Municipal Employers Retirement System (OMERS), and Ontario Teachers Pension Plan (OTPP).
These meetings are part of her effort to promote her ‘big bang’ pension reforms aimed at increasing investment in the UK economy and strengthening individual pension pots.
Rachel Reeves’ Strategic Meetings with Canadian Pension Funds
This visit is a segment of Reeves’ larger itinerary, which includes discussions with key financiers in New York, such as Stephen Schwarzman of Blackstone, and participation in the G20 summit in Brazil. Canadian pension funds have heavily invested in British infrastructure, notably in the troubled water industry, where they have faced significant financial challenges.
This visit to Toronto is part of Reeves’ broader strategy to engage with global financial players. Following her Toronto meetings, Reeves will travel to New York for discussions with leading financiers, including Blackstone’s Stephen Schwarzman. These meetings aim to attract more international investment into the UK.
Canadian pension funds have become pivotal players in global finance, with significant stakes in various sectors. However, their investments in the UK’s water industry have faced difficulties, such as OMERS’ significant losses due to Thames Water’s financial troubles. Reeves aims to reassure these investors and secure their continued support despite these setbacks.
In addition to the North American visits, Reeves will attend the G20 summit in Brazil, where she will further her discussions on global investment and economic cooperation. This trip underscores her commitment to fostering international partnerships to strengthen the UK economy.
Rachel Reeves’ engagement with Canadian pension funds, along with her strategic meetings in New York and Brazil, highlights her proactive approach to securing international investment for the UK’s economic growth and pension reforms.
“Reeves’ reform agenda seeks to enhance these investments, thereby boosting the UK economy and securing better returns for pension holders.”
