Anonymousabout 3 hours ago
The House of Commons voted 276 to 155 on 15 April 2026 to restore a "mandation" power allowing ministers to direct how defined contribution pension schemes invest up to 10% of their default fund assets, overriding a House of Lords vote that had stripped the clause from the Pension Schemes Bill. The move affects over £2 trillion in UK workplace pension assets and has drawn fierce opposition from the pensions industry, the Conservatives, and cross-bench peers who warn it undermines trustees' fiduciary duty to act solely in savers' interests.