The Guardian Australia – Business
·business
·1 hour ago
UK Government Backs Down on Pension Fund Investment Mandates After Industry Pushback
UK Chancellor Rachel Reeves has backed away from mandating how pension funds invest, after months of negotiations with the financial industry. The government's compromise allows backup powers only after 2028, requiring financial regulator approval and prohibiting directed investment in specific projects. Pension providers successfully defended fiduciary duties, prioritizing savers' interests over government growth targets.
Summary by Glance · The Guardian Australia – Business
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