A pensions overhaul, which will see companies able to pool larger savings schemes into one for better investment, will be unveiled by ministers today.

The move to introduce larger, collective pots would increase pensions by as much as 60 per cent, the Government said, as well as providing better income security.

Unlike defined contribution (DC) schemes , pensions known as collective defined contribution (CDC) allow employers to pool multiple schemes into one. New Feature

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This means there is more security and higher average incomes throughout retirement when compared to individual pension pots, the Government said.

Pooling the pension funds will also allow for bigger investments in assets such as UK businesses and infrastructure pr

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