UK ministers to push ahead with capped ‘mandation’ powers on pension schemes
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Draft law was rejected by the House of Lords but government is planning to table a compromise after Easter
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UK ministers to push ahead with capped ‘mandation’ powers on pension schemes on x (opens in a new window) UK ministers to push ahead with capped ‘mandation’ powers on pension schemes on facebook (opens in a new window) UK ministers to push ahead with capped ‘mandation’ powers on pension schemes on linkedin (opens in a new window) UK ministers to push ahead with capped ‘mandation’ powers on pension schemes on whatsapp (opens in a new window) Save UK ministers to push ahead with capped ‘mandation’ powers on pension schemes on x (opens in a new window) UK ministers to push ahead with capped ‘mandation’ powers on pension schemes on facebook (opens in a new window) UK ministers to push ahead with capped ‘mandation’ powers on pension schemes on linkedin (opens in a new window) UK ministers to push ahead with capped ‘mandation’ powers on pension schemes on whatsapp (opens in a new window) Save George Parker and Mary McDougall in London Published March 27 2026 Jump to comments section Print this page Stay informed with free updates Simply sign up to the Pensions myFT Digest -- delivered directly to your inbox. Ministers are set to take on the House of Lords over a plan to give them powers to force pension funds to invest a minimum amount in private assets and UK companies. But government officials said ministers would make concessions to try to get the measure through the upper house, which voted last week to remove a “reserve power” allowing ministers to mandate asset allocation targets. The proposal was rejected by peers after fierce criticism by the Conservatives and Liberal Democrats. However Pat McFadden, work and pensions secretary, and chancellor Rachel Reeves are determined to keep the “backstop” power, to ensure funds honour their promises to invest more in specific assets to kick-start the economy. Under the proposed compromise, ministers are expected after the Easter break to write a clause into the pension schemes bill setting a limit on the reserve power to rea...
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