UK unveils ‘backstop’ plan to force pension funds to invest in private assets

www.ft.com

UK unveils ‘backstop’ plan to force pension funds to invest in private assets

www.ft.com

schizoidman@lemm.ee to

Europe@feddit.orgEnglish · 19 days ago

Chancellor Rachel Reeves threatens to mandate retirement schemes if they fall short of voluntary targets

https://archive.is/jLWDm

Rachel Reeves will on Tuesday set out contentious “backstop” plans to force large pension funds to invest up to £50bn in private assets if they fail to meet voluntary targets in a new “Mansion House accord”.

Shadow chancellor Mel Stride told the Financial Times the idea smacked of “desperation”, adding: “Pension funds must be free to make investment decisions based on what’s best for savers.”

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