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Fury Erupts over New Plans that Could Give Ministers Power over Your Pension

MPs in The Commons voted to advance controversial pension investment plans, but the Lords are refusing to back down, leaving the legislation in deadlock.
The Government seeks powers to influence how pension funds invest billions, aiming to boost economic growth by directing capital into the UK economy.
Treasury minister Torsten Bell said the Bill is "designed to make clear on the face of the Bill that the power can only be used in line with what the industry itself has committed to."
Labour MP and former Treasury minister Liam Byrne supports the measures, stating "The only way in which we are going to collectively achieve that is if we raise the investment rate in this country."
With the Bill returning to the Lords, uncertainty remains for pension savers regarding how these powers might restrict investment choices or impact returns.

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Fury erupts over new plans that could give ministers power over your pension

A major fight over pension rules is escalating as MPs are pushing ahead with changes but the House of Lords is digging in

2 days ago·United Kingdom

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House of Lords Blocks Labour’s Mandatory Pension Investment Scheme for Second Time

The House of Lords has rejected Labour’s controversial “reserve power” legislation for a second occasion, preventing the Government from forcing pension schemes to allocate substantial portions of retirement savings intoRead More...

4 days ago

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