Lady Mayor Susan Langley has emphasised that employers have a more significant role in pension outcomes than often acknowledged. She stated that pension decisions should move beyond a sole focus on cost, instead weighing investment performance, member experience, retirement support, and overall cost to deliver the best retirement for employees.
Last year, the Employer Pension Pledge was introduced to provide a platform for employers to commit to a value-for-money approach from the outset. This initiative aims to drive a cultural shift in how workplace pensions are managed.
The City Corporation also launched the Mansion House Accord last year, a commitment by 17 UK defined contribution pension providers. This accord aims to allocate 10% of default fund assets to private markets by 2030, with at least half invested within the UK. This is intended to unlock billions of pounds for high-growth businesses, infrastructure, and clean energy, potentially diversifying savers' portfolios for greater returns and supporting British growth.