Story perspectives

UK Pensions Urge Removal of Government Investment Powers

3/4/2026

Summary

Story summary

Pensions UK has urged that reserve mandation powers be removed from the Pension Schemes Bill, warning the powers would let the government dictate pension scheme investments.
The proposed mandation extends beyond the Mansion House Accord, which sets a 10% private-market investment target for major pension providers by 2030.
Pensions UK also calls for safeguards, including a cap on mandated investments, stronger reporting, and earlier sunset from 2035 to 2032.

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Story summary

Pensions UK has urged that reserve mandation powers be removed from the Pension Schemes Bill, warning the powers would let the government dictate pension scheme investments.
The proposed mandation extends beyond the Mansion House Accord, which sets a 10% private-market investment target for major pension providers by 2030.
Pensions UK also calls for safeguards, including a cap on mandated investments, stronger reporting, and earlier sunset from 2035 to 2032.