Pension funds reject UK Plc proposal to get savers into local stocks

Pension industry executives have rejected a proposal from the London Stock Exchange Group and over 100 British business leaders to increase pension fund investments in UK stocks. They argue that mandating a minimum 25% investment in UK assets for default pension funds would introduce significant risk and ignore savers' interests. UK pension funds currently hold only 4.1% in domestic equities, down from 53% in 1997. The proposal aims to boost UK equity investments by up to £95 billion by 2030, but critics warn against external pressures on investment decisions.