Lords Reject Reeves' Pension Investment Plan

The House of Lords voted down Chancellor Reeves’ plan to allow the government to dictate where pension funds invest, a move intended to boost UK assets. The defeat, driven by opposition from the pensions industry and supported by a cross-party group of peers, removes a controversial ‘reserve power’ from the Pension Schemes Bill. This setback forces the government to reconsider the legislation and potentially address concerns about excessive government intervention in pension investments.

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