The PMI responds to Mansion House Accord

13 May 2025 – In response to the news that seventeen of the largest workplace pension providers in the UK have expressed their commitment to investing defined contribution (DC) default funds into private markets, with 5% of the total allocated to the UK, Helen Forrest Hall, Chief Strategy Officer at the PMI commented:

“The voluntary initiative, to be known as the Mansion House Accord, marks a significant moment in the conversation around pension investment and UK economic growth. While commitments and accords signal ambition, the PMI believes that the real test lies in delivering the regulatory and economic conditions that make UK markets genuinely attractive to pension funds.

“For those running UK pension schemes the ultimate responsibility is to act in the best interests of members. Pension funds will invest where opportunities align with long-term value and security.”

She added that “it is the Government’s role to foster an environment where UK investments are viable, competitive, and deliverable. Without the right economic conditions, pension funds cannot—and should not—be expected to prioritise UK assets over better-performing alternatives.”

“Commitments are easy to sign,” Forrest Hall said, emphasising that “delivering the right framework for success is harder. The Government must focus on creating the conditions that allow pension funds to act in members’ best interests—ensuring that UK markets are not just an option, but an attractive and sustainable one.”

ENDS

Notes to Editors 

Media contacts: 

Smithfield  

Henry Conner    henry.conner@edelmansmithfield.com                +44 (0)7709 577 073 
Ged Brumby       ged.brumby@edelmansmithfield.com                  +44 (0)7540 412 301

About the Pensions Management Institute  

The PMI is the professional body which supports and develops the experts who run UK pension schemes by delivering exceptional thought leadership, comprehensive education, advanced training, and recognised qualifications in pension management. It has the broadest skills base of pensions professionals and trustees in the UK, with more than 7,600 members dedicated to establishing, maintaining, and advancing the highest levels of pensions knowledge.

PMI members are responsible for managing and advising some of the largest institutions in the world and taking key decisions on substantial financial matters. With well over £1 trillion invested in UK pensions, PMI members have a vital role to play in shaping the nation’s financial future. With 48 years of successful operation behind it, the PMI is an organisation at the cutting edge of pensions, committed to fostering industry collaboration and driving innovation to enhance retirement outcomes.

For full details of PMI’s qualifications, membership grades, and ongoing support services visit www.pensions-pmi.org.uk.