Do not force British pension funds to buy UK assets, Aviva warns
British pension funds being forced by the government to buy UK assets would not be the 'right thing' and would be akin to using 'a sledgehammer to crack a nut', the boss of Aviva has warned.
Dame Amanda Blanc said on Thursday that she did not believe such an order was 'the right thing' or 'a necessary strategy because we do think that pension providers are already willing to invest in the UK and are already, as we have proven, doing so'.
She said the government would need to consider the 'unintended consequences' and that there was a 'chain of people who need to change behaviour', not just pension funds. These included employee benefit consultants, employees and workers.
• Pension funds could be forced to
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