The Work and Pensions Committee will hear evidence from the industry this week around UK investment amid rumours of potential mandatory allocations.

The parliamentary committee is in session on Wednesday 14 May to hear from two panels representing pension funds, insurance companies and the wider financial services industry.

It comes as the government is exploring the next iteration of the Mansion House Compact, with several reports stating that policymakers may seek to mandate minimum investments in UK assets or private markets.

Recent research into how defined contribution (DC) pension schemes are allocating to private markets found that many were planning “outsized” allocations.

Master trusts in particular are exploring how to expand their investments in private markets such as real estate, infrastructure and private equity, separate research has shown.

Houses of Parliament

Who are the industry representatives?

The first panel, which will appear before the committee at 9:30am, includes:

  • Jesse Griffiths, chief executive officer at The Finance Innovation Lab. He has led the charity - set up by the World Wide Fund for Nature and the Institute of Chartered Accountants in England and Wales - for five years, overseeing its work campaigning for fairness and sustainability in financial services.
  • Jackie Wells, an independent pensions researcher. Wells is a research associate at the Pensions Policy Institute and an insight expert at the International Longevity Centre UK, as well as a member of the independent governance committee for Fidelity’s master trust. She previously led policy for the Pensions and Lifetime Savings Association.
  • William Wright, founder and managing director at New Financial. New Financial is a think tank focusing on capital markets, and is predominantly financed by asset managers, banks and other financial services firms.

The second panel of witnesses, representing asset owners, will commence at 10:15 am and includes:

  • Rachel Croft, chair of the Association of Professional Pension Trustees and trustee director at Independent Governance Group.
  • Chris Curry, director at the Pensions Policy Institute. Curry is also principal at the Pensions Dashboards Programme and was one of three co-chairs of the 2017 government-commissioned review of automatic enrolment.
  • Yvonne Braun, director of policy, long-term savings, health and protection at the Association of British Insurers.
  • Joe Dabrowski, deputy director of policy at the Pension and Lifetime Savings Association.

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