( 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....
Prepare for tomorrow’s regulatory change, today
MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.
Know what others in the room don’t, with features including:
- Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
- Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
- Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
- Curated case files bringing together news, analysis and source documents in a single timeline
Experience MLex today with a 14-day free trial.