Britain’s new Labour government has promised a review of pensions but immediately got itself into hot political water by announcing cuts to a winter heating allowance for retirees. In fact, the priorities of the new chancellor of the exchequer, Rachel Reeves and pensions minister Emma Reynolds, align very strongly with the policies of the previous Conservative administration, which aimed to boost growth by unlocking investment in the UK and making pension funds more efficient – a series of policies collectively known as the Mansion House reforms. For its part, the pensions sector wants the government to focus on consolidation and to increase the minimum contributions under the otherwise successful auto-enrolment system. A new funding code for the sizeable DB pension sector was set to come into force this autumn but transfers of DB pension assets to insurers via bulk annuities or full buyouts continue apace.
Defined benefit pension schemes could face some tough decisions on how to deal with surpluses if planned legislative changes to ease access come into effect
Pension fund/entity | Assets (€’000)
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The new name aims to reflect the importance of pensions in people’s lives and economic growth
Quantum Advisory’s latest report shows a decline in the number of mandates seeking high returns
It is crucial for DB schemes to follow clear process in run-on journey, says Sachin Patel, head of corporate DB
The decision means that Shell Asset Management Company (SAMCo) will be wound down in due course
Pension fund trustees are among the stakeholders the FCA is seeking input from on ‘targeted support’ consultation
Company | Assets (€m)
As at 31.12.24, *31.3.25, **28.2.25
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IPE BEST PENSION FUND IN THE UK AWARD WINNERS
Labour’s ‘Mansion House Accord’ has secured commitments from 17 of the largest workplace DC providers to invest 10% of their default funds into private markets by 2030, with 5% of the total allocated to the UK.
The new name aims to reflect the importance of pensions in people’s lives and economic growth
Quantum Advisory’s latest report shows a decline in the number of mandates seeking high returns
It is crucial for DB schemes to follow clear process in run-on journey, says Sachin Patel, head of corporate DB
The decision means that Shell Asset Management Company (SAMCo) will be wound down in due course
Pension fund trustees are among the stakeholders the FCA is seeking input from on ‘targeted support’ consultation
The transaction secures the benefits of over 3,500 members of the scheme sponsored by Mpac Group
Mistry has helped L&G navigate the Mansion House agenda driven by the UK government
West Yorkshire Pension Fund backs firm that aims to raise £10bn for nature-based infrastructure over the next decade.
‘Our ambition is for the UK to become the world’s most innovative full-service financial centre—and we’re already making progress’, says investment minister
FCA’s Kate Collyer stresses the importance of understanding the potential trade-offs when introducing more risk