Mandation Power

The bill becomes the Pension Schemes Act and officially becomes law

Government proposes ‘sunset’ clause to include time limit on the power

The bill will next return to the Commons for further consideration of amendments

Bill will return to Lords in usual ‘ping pong’ process until both houses reach an agreement

Government will not require DC schemes to invest more than 10% of total assets

Move follows Lords vote to remove reserve investment power from Pension Schemes Bill

Industry says power to dictate pension scheme asset allocation is ‘unnecessary’

Lords are examining several amendments to the bill this week in its report stage

Industry jubilant as mandation power brought into line with the Mansion House Accord