Pension Schemes Bill investment mandation would have had 'serious consequences'

Responding to the House of Lords decision to remove the mandation power from the Pension Schemes Bill, Gallagher managing director and head of defined contribution Jonathan Parker suggested trustees "will breathe a sigh of relief" at the vote to remove the power. "Its reach went far beyond the original intent of supporting voluntary commitments and would have had serious consequences for members as even as a backstop, it represented a significant risk. "Since the government tabled the amendment, there were widespread calls for the proposal to be dropped entirely, highlighting understa...