Labour business plans would be 'double whammy' for pension savings

While designed to put more money in workers' pockets, the proposal to grant employee shareholder rights by a collective ‘Inclusive Ownership Fund' could see pension funds' shareholding diluted, hitting their potential returns. Speaking at the party's conference yesterday (24 September), shadow chancellor John McDonnell said the policy would see workers benefit from payments of up to £500 a year. "We will legislate for large companies to transfer shares into an ‘Inclusive Ownership Fund'," he said. "The shares will be held and managed collectively by the workers. The shareholding will ...