'Pooled' pension schemes announced

%VIRTUAL-SkimlinksPromo%Plans for giant "pooled" pension schemes with the potential to boost people's chances of getting a better retirement outcome have been unveiled.

Legislation unveiled in the Queen's Speech will enable "collective schemes" that spread the risk between members and could offer them greater stability over the eventual size of the pension they will end up with, while limiting costs to employers because of their economies of scale.