Could you pension pay for new homes?

Local authority pension funds could help build 300,000 new homes every year, according to a new report from the Future Homes Commission (FHC).

The Building the Homes and Communities Britain Needs report says the UK must ‘radically overhaul’ the way it funds and builds housing, and local authorities should pool their assets to provide local communities with better homes.

It recommends setting up a £10bn Local Housing Development Fund, to be financed by the largest local authority pension funds pooling 15% of their assets to invest in new housing. It also says councils should use the new powers at their disposals to lead the creation of sustainable communities and ensure a decent return of their investment.