{"id":25417,"date":"2026-04-30T02:45:09","date_gmt":"2026-04-30T02:45:09","guid":{"rendered":"https:\/\/www.europesays.com\/britain\/25417\/"},"modified":"2026-04-30T02:45:09","modified_gmt":"2026-04-30T02:45:09","slug":"pension-schemes-bill-passes-parliament-as-rachel-reeves-wins-power-to-force-funds-to-invest-in-uk","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/britain\/25417\/","title":{"rendered":"Pension Schemes Bill passes Parliament as Rachel Reeves wins power to force funds to invest in UK"},"content":{"rendered":"

The Labour Government’s landmark Pension Schemes Bill has passed through Parliament in a major win for their legislative agenda.<\/p>\n

Under the bill, Chancellor Rachel Reeves and future Government ministers have won the power to force retirement funds to invest a minimum amount in UK firms and private assets.<\/p>\n

Last night, the House of Lords gave its approval to final amendments that introduce fresh safeguards around the controversial mandation powers.<\/p>\n

Following agreement between both chambers on the legislation’s final wording, the Bill will now move forward to receive Royal Assent, at which point it becomes law.<\/p>\n

\"Rachel<\/p>\n

Labour’s Pension Schemes Bill has been brought forward to Royal Assent <\/p>\n

| <\/p>\n

GETTY <\/p>\n

The legislation had been subject to multiple rounds of back-and-forth between the Commons and Lords in recent weeks, with peers expressing significant concerns about the extent of powers the Government sought to direct pension scheme investments.<\/p>\n

These new guardrails represent a substantial scaling back of the original proposals, marking a notable concession from ministers following sustained pressure from the upper chamber and the pensions sector.<\/p>\n

Notably, the Government’s authority to dictate how pension schemes allocate their assets has been considerably reduced from what was initially proposed, with the powers now also carrying time restrictions.<\/p>\n

This narrowing of scope came as a direct result of opposition from the House of Lords combined with widespread criticism from across the pensions industry.<\/p>\n

\"King<\/p>\n

The UK’s pension scheme is also set to be overhauled as Labour set out a new Pension Schemes Bill, which has now been given Royal Assent<\/p>\n

| Getty\"\\u200bTorsten<\/p>\n

Labour’s Pension Minister Torsten Bell said he would protect people’s retirements after a lifetime of work<\/p>\n

| PA<\/p>\n

The original draft legislation had granted ministers broad discretion over investment decisions, but sustained resistance forced significant revisions to these provisions.<\/p>\n

In response to the news that the Pension Schemes Bill will be brought forward for Royal Assent, the sector has broadly welcomed the diluted mandation provisions.<\/p>\n

Helen Forrest Hall, chief strategy officer at the Pensions Management Institute, said her organisation “fully supported” the Lords’ opposition to a “sweeping reserve power to require specific asset allocations” and expressed satisfaction that the “government has introduced important guardrails”.<\/p>\n

Yvonne Braun, director of long-term savings at the Association of British Insurers, noted that while her organisation “strongly supports the overall package”, concerns remained about the reserve power’s inclusion.<\/p>\n

\"Rachel<\/p>\n

The Chancellor and future Government ministers have been awarded with more power over pensions q<\/p>\n

| GB News<\/p>\n

Julian Mund, chief executive of Pensions UK, hailed the legislation as a “victory for pension savers”, praising the “drastically scaled back” ministerial powers over investment direction.<\/p>\n

Patrick Heath-Lay, the chief executive of People’s Partnership, described the Bill’s passage as a “historic moment for the UK”.<\/p>\n

On X, Pensions Minister Torsten Bell said: “Very good news tonight. The Pension Schemes Bill has completed its journey through Parliament.<\/p>\n

“Time to celebrate before the really important work begins – implementing the huge reforms it contains to deliver better pensions for savers.”<\/p>\n","protected":false},"excerpt":{"rendered":"The Labour Government’s landmark Pension Schemes Bill has passed through Parliament in a major win for their legislative…\n","protected":false},"author":2,"featured_media":25418,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[31,253,4429,14,5,20,6],"class_list":{"0":"post-25417","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uk","8":"tag-labour-party","9":"tag-money","10":"tag-pensions","11":"tag-politics","12":"tag-uk","13":"tag-uk-politics","14":"tag-united-kingdom"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/25417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=25417"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/25417\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/25418"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=25417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=25417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=25417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}