Investment mandation and members’ “best interests”

The Pension Schemes Act 2026 introduces a wide range of reforms that will reshape the pensions landscape in the years ahead. Among its most debated provisions is the investment mandation provision, the Government’s new reserve power to require certain defined contribution pension schemes to allocate part of their default funds to private assets, a measure that sparked significant parliamentary and industry scrutiny.

Zara Yusuf examines the Act’s controversial investment mandation provisions and considers what the Stena Line case tells us about how trustees and providers should approach the statutory “best interests” test that may allow schemes to seek an exemption from any future asset allocation requirements. Zara explores whether established trust law principles can help interpret this new statutory safeguard and what the implications may be for both Master Trusts and group personal pension schemes.

Read the full article on the Pensions Barrister website

Zara Yusuf welcomes instructions across all of Chambers’ main practice areas, either as sole counsel or as part of a team. She is developing a broad commercial chancery practice and draws on the extensive exposure gained from her varied work before coming to the Bar. To instruct Zara, please contact the clerks.