Pension assets reach new high as returns improve
Rising contributions and better investment income have lifted the pool of retirement savings.
Retirement savings under management reached a new high, helped by steady contributions and a recovery in investment returns across the asset classes open to fund managers.
The growth matters for the wider economy as much as for savers. Pension funds are among the few domestic institutions able to supply long-dated capital to infrastructure and housing, both of which need patient financing.
Managers say the challenge is matching that capital with a pipeline of bankable projects, rather than finding the money to invest.
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About the author
Halima Yusuf
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Halima Yusuf writes for BusinessPress.
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