By Charlie Conchie Forcing the UK’s sprawling local government pension schemes (LGPS) to merge into a single “sovereign wealth fund” could unlock £40bn worth of investment for British infrastructure projects, a top pension manager has said. In a statement yesterday, the Pension Insurance Corporation (PIC), which manages some £47bn in assets, said that pushing the UK’s fragmented local government pension schemes to combine in a single fund could deliver on Rachel Reeves’s plans to funnel a wave of retirement cash into the economy. The call comes after Reeves tabled plans on Saturday to force co…