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UK pensions industry urges voluntary approach over investment allocation

( August 27, 2025, 14:14 GMT | Official Statement) -- MLex Summary: The UK pensions industry has criticized a provision in the Pension Schemes Bill that would grant the government reserve powers to mandate defined-contribution investments. Pensions UK, whose members include pensions, asset managers and advisers, said the voluntary Mansion House Accord was a better route. The Accord commits defined-contribution schemes to invest at least 10 percent of assets in private markets, with half of that in the UK. In a submission to lawmakers, the group said if reserve powers are retained, the sunset clause should expire by 2032 rather than 2035, and legislation should align with the Accord’s framework.Statement below....

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