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Pension Schemes Bill clears parliament with new ‘guardrails’ on mandation


By Natalie Tuck

The Pension Schemes Bill (PSB) cleared Parliament last night (28 April), after the House of Lords accepted final amendments introducing new ‘guardrails’ on mandation powers.

The Bill has undergone several rounds of ‘ping pong’ between the House of Commons and the House of Lords in recent weeks, as peers pushed back on the scope of the government’s proposed mandation powers


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Over £160bn of DC assets in hands of fewer than 50 trustees, LCP warns

Fewer than 50 trustees now control more than half of all occupational (trust-based) defined contribution (DC) pension assets, according to research from LCP, raising concerns over governance, accountability and outcomes as the market consolidates into megafunds

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House of Lords continues opposition to investment mandation despite Commons concessions

The House of Lords has voted to continue its opposition to investment mandation in the Pension Schemes Bill, despite a fresh round of concessions from the House of Commons aimed at easing concerns over trustee duties and member outcomes.

Peers backed an amendment to insist on their previous changes to the Pension Schemes Bill, by 197 votes to 129, prolonging the parliamentary standoff over the government’s proposed 'reserve power' on asset allocation

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Riversmeet Advisory enters market with specialist executive search offering

Riversmeet Advisory, a new executive search and leadership advisory firm, has launched with a focus exclusively on the pensions, asset management and investment industries

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UK ageing accelerates as over‑85 population set to double

The UK’s population is ageing rapidly, with the number of people aged 85 and over projected to double over the next 25 years, new figures from the Office for National Statistics (ONS) have shown

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UK state pension only 26% above cost of living

The UK state pension has stood at 26 per cent above the cost of living benchmark, leaving pensioners with an average monthly surplus of around £220 after covering basic living costs, according to Almond Financial’s 2026 Pension Breakeven Index

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Trustees urged to assess admin risks amid buy-in market pressure

Trustees and sponsors must place greater focus on administration risks when selecting an insurer for a buy-in or buyout, amid continued high demand in the bulk annuity market, Gallagher has warned

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