Mansion house accord. The Mansion House Accord aims to On Saturday, The Telegraph said a first draft of Mansion House Compact II was circulated last week following what it said were several rounds of "sometimes tense negotiations" between Treasury ministers, the industry and Britain's biggest pension funds have pledged to boost investment in businesses and infrastructure projects in the UK. For those signed up to the Mansion House Compact that commitment is not changed by their signing up to the Mansion House Accord. Executive summary In the one year since signing the Mansion House Compact (MHC), signatories have made significant strides towards the ambition of the Compact in order to Concerns over the potential for a legal underpin for the Mansion House Accord have continued, with Pensions Minister, Torsten Bell, refusing to be drawn into speculation over whether mandation could be considered if the Some 17 UK workplace pension providers have signed up to the Mansion House Accord. The ambition of the 2023 Compact is to allocate at least 5% of the DC default funds to unlisted equities, including venture and growth UK Pensions | Mansion House II: a new Compact By Lesley Browning on May 6, 2025 In our first blog on the Government’s Mansion House reforms we considered the humble fiduciary duty, and its potential to deter Whereas the Mansion House Compact focussed on unlisted equities only, the Accord broadens the scope of asset classes to real, physical assets. Under the Accord, pension The Mansion House Accord is not delivering the boost that UK public markets require, with most investment destined for private markets. This involved 11 providers pledging to invest at least 5% of their DC default funds in private equity and venture capital by 2030. In this article, we discuss the latest phase of UK pension reform, the launch of the Mansion House Accord, and what it means for private capital managers. The Mansion House Accord builds on, rather than replaces, the Mansion House Compact. As highlighted by Hansard record of the item : 'Mansion House Accord' on Wednesday 14 May 2025. Its remit is also broader than the original pledge, including private credit and infrastructure as Following the announcement of the Mansion House Accord today, the agreement's signatories have spoken about their intentions and what they expect from the government. Could the Accord encourage The latest iteration of the Mansion House Compact comes nearly two years after the launch of the initial accord was announced in July 2023 – which saw signatories pledge to allocate at least 5% of DC default assets to The original Mansion House agreement spearheaded in 2023 by Ms Reeves’s predecessor Jeremy Hunt aimed to boost growth by pledging a minimum 5pc of workplace pension savings into unlisted The Mansion House accord is clearly a welcome step in aligning the UK’s pool of domestic pension capital with long-term growth, greater economic sovereignty and financial Appetite for these asset classes and for the LTAF structure is expected to increase following the announcement of the Mansion House Accord, which will see DC pension By forcing pension fund managers to make a 10 per cent allocation to private assets, the government risks turning the Mansion House reforms from a visionary ambition into a blunt instrument Scottish Widows, Fidelity and Hargreaves Lansdown have not joined 17 other major providers in signing up to the Mansion House Accord today. The Mansion House Accord sees major providers and schemes express their The Mansion House Accord, signed on 13 May 2025, represents a significant commitment by 17 of the UK’s largest workplace pension providers to boost investment in Impact Assessment Summary Mansion House Accord 1 The 17 signatories of the Mansion House Accord, accounting for around 90% of active DC savers, have estimated that £252 billion The Mansion House Accord, signed on 13 May 2025, represents a significant commitment by 17 of the UK’s largest workplace pension providers to boost Illiquid assets: Mansion House Accord Investment Mansion House Accord: It’s all in the implementation! This is the third paper in our series on private market (or illiquid assets) Scottish Widows had been one of the biggest workplace pension funds to sign the first Mansion House accord. The Compact, a non-legally binding initiative, is inteded to show a provider's intent The Accord Having been hotly anticipated by pensions and news publications, on May 13, 2025, the new Mansion House Accord was announced. Signatories aim to invest at least 10% of default fund assets in private markets by 2030, with at M&G plc, a leading international savings and investments business, today reaffirms its commitment to UK economic growth by becoming a signatory to the Mansion In this third blog on the Mansion House reforms, by way of an update to our second, we turn our attention to the new Mansion House Accord and how it relates to the old Mansion House Compact. Under the "Mansion House Accord", announced on 13 May, seventeen of the UK's largest workplace pension providers have agreed to invest at least 10% of their defined contribution (DC) default funds into private The Mansion House accord comes ahead of the final report of the pensions investment review due later this spring, which pensions minister Torsten Bell said in March would provide “end point The Mansion House Accord builds on the Mansion House Compact, launched in 2023. Signatories to the Accord will On May 13, 2025, some 17 of the UK’s largest pension providers signed a voluntary Mansion House Accord, expressing intent to invest 10 per cent of their DC default funds (£50bn) in People’s Pension 1, the UK’s largest commercial workplace pension scheme, has today announced it has signed the Mansion House Accord 2 (the Accord), a landmark industry-led Seventeen workplace pension providers are signing up to a voluntary initiative with the aim of boosting savers’ investments and UK growth. As an arm of Lloyds, Britain’s largest domestic bank, Scottish UK pension giants pledge £50bn for private equity and infrastructure under Mansion House Accord Seventeen of the UK’s largest pension providers have committed to allocate up to £50bn to private markets and infrastructure by City analysts and politicians have been probing the ramifications of the Mansion House Accord, a new deal spearheaded by the government that aims to encourage more diverse investments by pension Seventeen of the UK's biggest pension firms have pledged to invest at least 10% into private markets and 5% in the UK by 2030. Aegon UK has announced its participation as a signatory to the Mansion House Accord, reinforcing its commitments as a founding signatory of the Mansion House Compact Pension schemes have jointly formed the Mansion House Accord initiative, pledging to ramp up investment into private British businesses. The The “Mansion House Compact” forms part of the Mansion House Reforms. Dubbed The 17 signatories to the Mansion House Accord said the move could ultimately boost member outcomes but said progress would be dependent on a “pragmatic” approach to implementation from the government as well as Unlike the Mansion House Compact, the Mansion House Accord does have a commitment to invest in private markets in the UK. This is a different Under the Mansion House Accord, the providers intend to invest at least 10% of defined contribution default funds in private market assets by 2030, with 5% ringfenced to UK businesses, property and major infrastructure. The agreement takes its name from the Mansion The Mansion House Compact is a separate agreement. The As we highlighted in our May article, the voluntary commitment in the Mansion House Accord to achieve the specified asset allocations were expressly made subject to Seventeen major UK pension schemes have united under the Mansion House Accord to invest 10 per cent of their default funds into private markets, with half allocated to The Mansion House Accord does not replace the Mansion House Compact but builds upon it. Under the new Mansion House Accord, 17 signatories have committed to invest at least 10% of their main default funds in private markets by 2030, half of which should be The Mansion House Accord appears to have been struck with pragmatism and collaboration, but legal experts are already considering what could happen if this collegiate Industry experts have welcomed the launch of the Mansion House Accord, suggesting that "the threat of compulsion has been heeded, with providers stepping up", The Mansion House Accord is an agreement between major pension providers to pour billions of investment back into the UK economy. The full text of the Mansion House Accord, as signed by 17 pension schemes and providers this It’s rare for Labour governments to pick up and follow through on Conservative proposals, but that has been the case with the Mansion House Accord, an initiative to boost public investment in The original “Mansion House Compact” was announced in 2023 by the then Chancellor, Jeremy Hunt. The chancellor, Rachel Reeves, and the Lord Mayor of London Alastair King sign the Mansion House Accord on 13 May 2025. Seventeen of the largest workplace pension providers in the UK have expressed their intent to invest at least 10% of their defined contribution (DC) default funds in private markets by 2030, with 5% of the total allocated to the UK. Ministers said the Mansion House Accord, which will today be signed by 17 of The Mansion House accord is clearly a welcome step in aligning the UK’s pool of domestic pension capital with long-term growth, greater economic sovereignty and financial The Mansion House Accord announced this week is a landmark voluntary commitment by 17 of the UK’s largest workplace pension providers to boost both pension savers’ returns and investment in the UK economy. Understand what it means and if you should act. The Mansion House Accord follows on from the Mansion House Compact, which was signed in July 2023 by 11 pension providers and then chancellor, Jeremy Hunt. The pact would see 17 of the UK’s biggest pension providers invest £50billion in private assets Mansion House Accord pension changes may affect your savings. However, Scottish Widows – one of the original signatories of the Mansion House Compact – chose not to sign up for the new The Mansion House Compact members are: Aviva, Scottish Widows, L&G, Aegon, Phoenix, Nest, Smart Pension, M&G and Mercer. Seventeen of the largest workplace pension providers have pledged to unlock up to £50bn investment for the economy by allocating more to private markets as part of the new Mansion House Accord. The UK economy could be about to receive a £50bn cash injection after Britain’s biggest pension funds pledged to redirect resources into private markets. It is a voluntary, non-binding agreement between 11 of the UK’s The ‘ Mansion House Accord ’, signed on 13 May 2025, involves 17 major pension providers. The Mansion House A new agreement with Britain's biggest pension funds is set to unlock up to £50bn of investment for UK private firms and major infrastructure projects. The impact on affected individuals is likely to be UK Pension Giants Sign Mansion House Accord The UK pensions industry remains broadly supportive of government efforts to reform the pensions system to kick-start economic growth, but concerns remain over the The Mansion House accord is clearly a welcome step in aligning the UK’s pool of domestic pension capital with long-term growth, greater economic sovereignty and financial At the heart of the current reforms is the Mansion House Accord, a deal struck earlier this year between the Government and 17 of the UK’s largest workplace pension providers. It is a DC savers can expect to see 5 per cent of their fund channelled into UK private market investments under a voluntary agreement between 17 providers and the City of London Corporation, driven by HM Treasury. Continuing industry-led efforts to improve retirement outcomes and now, unlocking long-term investment in UK growth. On Tuesday 13th May, seventeen of the largest workplace pension providers in the UK signed a voluntary initiative, known as the Mansion House Accord, expressing their intent to invest at The voluntary initiative, known as the Mansion House Accord, has been jointly led by the City of London Corporation, the Association of British Insurers (ABI), and the Pensions and Lifetime Savings Association (PLSA). It depends on Government and The recent launch of the Mansion House Accord marks a significant milestone for the UK pensions industry, promising to mobilise substantial investments for UK markets by 2030. . Following protracted discussions, 17 major pension schemes and providers have put their names to a new Mansion House Accord. Workplace savers could see their pension outcomes improve as 17 of the largest UK workplace pension providers have signed the Mansion House Accord. The Mansion House Accord Purpose This Accord is a voluntary expression of intent by signatories to facilitate access for savers to the higher potential net returns that can arise from Building on the Mansion House Compact, the new voluntary initiative, the Mansion House Accord, is being jointly led by the Association of British Insurers (ABI), the Pensions and Lifetime Savings Association (PLSA) In this third blog on the Mansion House reforms, by way of an update to our second, we turn our attention to the new Mansion House Accord and how it relates to the old Mansion House Compact. Eleven of the signatories had already pledged under the Compact to invest 5% of DC defaults in unlisted Mansion House Accord The Mansion House Accord has been launched by the Pensions and Lifetime Savings Association (PLSA), the Association of British Insurers (ABI) Key takeaways Mansion House speech 2025 In her second Mansion House speech as Chancellor on Tuesday 15 July, Rachel Reeves set out a bold vision for revitalising the UK economy and capital markets. Nine of the UK’s largest DC pension scheme providers signed the Compact, which is an industry-led That ambiguity has provoked a backlash from several key signatories to the Mansion House Accord, including Royal London, Aon, and Mercer, who argue that pension Mansion House Accord The Mansion House Accord is an agreement between the Government and 17 major pension providers including Aviva, People’s Pension and Royal Mansion House Accord (Limited Text - Ministerial Extracts only) Read Full debate Point of Order Tuesday 13th May 2025 (1 month, 3 weeks ago) Commons Chamber Share The 17 signatories of the new ‘Mansion House accord’ have agreed to invest half of that, ie 5%, in UK businesses, property and major infrastructure projects. Mansion House impact on your pensions explained as over-50s warned ‘don’t get distracted' It could be a "turning point for UK pensions" The UK pensions industry has built on the Mansion House Compact with the launch of the Mansion House Accord, which secured commitment from 17 of the largest workplace pension providers in the UK to Building on the Mansion House Compact, the new voluntary initiative, the Mansion House Accord, is being jointly led by the Association of British Insurers (ABI), the Pensions The Mansion House Accord Purpose This Accord is a voluntary expression of intent by signatories to facilitate access for savers to the higher potential net returns that can arise from Rachel Reeves won’t rule out pension fund mandates as tensions rise over Mansion House accord Chancellor Rachel Reeves has refused to rule out compelling UK pension funds to invest in domestic assets, escalating The new Mansion House Accord has been signed by 17 pension providers, with the aim of allocating a total of 10% in private assets via DC pension funds. Seventeen of the largest workplace pension providers have pledged to unlock up to £50bn investment for the economy by allocating more to private markets as part of the new Seventeen of the UK’s largest workplace pension providers have pledged to invest billions into private markets – including a minimum 5% into UK-based assets – under a new initiative announced this week, the Mansion The so-called Mansion House Accord unlocks up to £50 billion of investment in the economy, with half of that directed to major British infrastructure projects. By The 17 signatories to the Mansion House Accord said the move could ultimately boost member outcomes but said progress would be dependent on a “pragmatic” approach to Scottish Widows, which manages over £100billion in pension savings, has refused to sign the updated Mansion House Accord. The Mansion House Accord is the Government’s way of accessing pension scheme assets and putting them to work for the UK. The Mansion House Accord underscores the importance of collaboration between industry and government to ensure a robust pipeline of investable assets. The voluntary initiative, to be known as the Mansion House Accord The voluntary initiative, to be known as the Mansion House Accord, has been jointly led by the Association of British Insurers (ABI), the Pensions and Lifetime Savings Association (PLSA) and the City of London Seventeen workplace pension providers sign a pledge to invest 10 percent of their portfolios in UK assets by 2030, unlocking up to £50 billion for the economy. This is a different Mansion House Accord The Mansion House Accord is an agreement between the Government and 17 major pension providers including Aviva, People’s Pension and Royal London. This agreement aims to unlock up to £50 billion for UK businesses and infrastructure projects. Under the agreement, pension providers plan to invest at least 10 The new ag r eement, which has been dubbed the Mansion House Accord, will see major pension funds including Phoenix and Aviva commit to invest ten per cent of their assets on private markets, with Mansion House Accord The Full Accord Purpose This Accord is a voluntary expression of intent by signatories to facilitate access for savers to the higher potential net returns that can arise from investment in private markets as part This Mansion House Accord will unlock investment in UK private markets while helping deliver better long-term returns and retirements for millions of pension savers. The initiative is part of the Plan for Change to drive growth and The Accord is a voluntary expression of intent by signatories to allocate 10% of DC default funds to private markets by 2030, with 5% to UK private markets. Investments in the scope of the Compact contribute to the Accord.
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