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GAD attends key summit

GAD has attended a major pensions summit in London. The event, included organisations from the UK and internationally and was addressed by the Chancellor.

The Government Actuary’s Department (GAD) has attended a major financial conference on the Mansion House reforms. The event, held on 25 October, was arranged by the City of London and the EY pensions team.

The focus was on taking forward the Chancellor’s Mansion House Compact to increase the level of investment in unlisted equities by the defined contribution (DC) market.

Reforms and aims

The event’s aim was to explore practical approaches to accelerating investment in unlisted equities to boost returns for UK savers. GAD’s previous analysis demonstrated the potential impact that such changes might have. More than 100 organisations from across the pensions value chain attended the summit.

The Chancellor of the Exchequer, Jeremy Hunt was the keynote speaker, and he expressed his support for the reforms required to achieve the aims of the Mansion House Compact. There are now 10 organisations signed up to this. They are committed to the objective of allocating 5% of assets in their default funds to unlisted equities by 2030.

Industry experts

Commenting on the event, actuary Andy Jinks who attended on behalf of GAD said: “This was a significant and important summit which brought together industry experts from the UK and internationally.

“Among the topics discussed were how to overcome long-standing structural issues which can be seen as hindering investment in the DC schemes.”  

The event finished with delegates discussing the next steps in supporting the Mansion House Compact.

Channel website: https://www.gov.uk/government/organisations/government-actuarys-department

Original article link: https://www.gov.uk/government/news/gad-attends-key-summit

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