Reeves's Pension Plan Blasted by Bank of England Governor in 'Nuclear' Intervention

Reeves's pension plan blasted by Bank of England governor in 'nuclear' intervention

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Reeves’s pension plan blasted by Bank of England governor in ‘nuclear’ intervention

BoE governor opposes pension investment mandate in blow to government plans

Bank of England governor Andrew Bailey has spoken out against government proposals to direct how defined contribution (DC) pension schemes invest their assets, casting doubt over a key element of the new Pension Schemes Bill.

‘Nuclear’ intervention from Bank of England casts further doubt on government plans to mandate pension scheme investment strategy - IFA Magazine

News that the governor of the Bank of England has registered his opposition to Government plans to tell pension schemes how to invest casts doubt on whether these plans will go ahead, according to LCP Partner, Steve Webb. The Pension Schemes Bill, which was debated in the House of Commons for the first time on Monday (7th July) includes a clause which would allow the Government to tell DC pension schemes how to invest.  The aim of the clause, wh…

Bank of England warns against ‘mandation’ of pension investment ...

BoE governor Andrew Bailey’s  clear objection puts the spotlight on the Pension Schemes Bill’s future

Consultation on controversial pension fund investments planned

The £6 billion Avon Pension Fund has 140,000 members from over 450 employers.