Source · Select Committees · Work and Pensions Committee
Recommendation 4
4
Acknowledged
Paragraph: 54
Prevent DB pension scheme investments from jeopardising the UK economy in future.
Conclusion
Sharp rises in gilt yields which LDI funds lacked the resilience to manage, led to the Bank of England having to intervene in September 2022 to protect financial stability. DB pension scheme investments must not be allowed to jeopardise the UK economy again.
Government response summary AI-generated
The government acknowledges the concern by welcoming the Committee's separate recommendation to bring investment consultants under FCA regulation. It states it will consider this as part of a call for evidence and take various views into account for future steps.
Paragraph Reference:
54
Government Response
The government responded to this report on 20 November 2023. No passage in that response could be matched to this conclusion. Read the response document ↗