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