Laura WilesThe Association of Investment Companies (AIC) has expressed dissatisfaction at the Government’s lack of progress on the Pension Schemes Bill, which has not been amended during its passage through the House of Commons to include investment companies.
The Bill is set to give the Government powers to compel pension schemes to invest a percentage of their portfolios in private assets, but as currently drafted, schemes would not be able to meet the percentage threshold by investing in listed investment companies holding private assets.
The Government did not take the opportunity to introduce the request amendment in the House of Commons, and the AIC now urges it to do so when the Bill passes through the House of Lords.