The UK government, through Chancellor Rachel Reeves’ support of the Mansion House Accord, is reallocating pension funds into high-cost private market investments. This policy affects over 30 million individuals, potentially risking their retirement savings for political ends. Major pension providers are shifting around £4.8 trillion into unlisted equities and private debts with little transparency. The move is criticized as exploiting public disengagement with pensions, posing a risk to financial security for retirees, especially given that most savers do not actively manage their pension investments.
Chancellor Rachel Reeves' support of the Mansion House Accord risks over 30 million UK pensions by directing funds to opaque, high-cost investments.
Nigel Green warns this shift prioritizes political agendas over the financial security of retirees.
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