'Too small' UK pension funds hold back growth, says Rachel Reeves

Getty ImagesUK public sector pension funds are not big enough to generate good returns for British savers, Chancellor Rachel Reeves has told the BBC.Her comments come as the government reveals plans to merge the UK's local government pension scheme, a group of funds which together manage £354bn in investments, into a handful of "pension megafunds".The plans form part of what the government has said are the…