14 May 2025
by Mia Haffety

The Mansion House Accord: what does this mean for tech?

Yesterday, 13 May, saw seventeen of the largest pension providers pledge to unlock up to £50 billion for the UK economy, with commitments to increase investment in private British businesses.

techUK has long been supportive of the Mansion House reforms (read more here) and the opportunity to drive more investment into tech start-ups and scale-ups. Back in November, we signed an open letter brought together by the Start-Up Coalition, and with other signatories Bioindustry Association (BIA), UK Business Angels Association, UK Day One, The Entrepreneurs Network, Founders Forum Group, Tech Nation.

So, what happened?

Seventeen workplace pension providers managing around 90 percent of active savers defined contribution (DC) pensions gathered at City of London to sign the Mansion House Accord at a roundtable hosted by the Chancellor and Minister for Pensions.

This marked a commitment to increase investment in private British businesses and comes ahead of the final report on the Pension Investment Review. The final report is expected to see the creation of pension mega-funds, similar to the model in Australia and Canada, to invest in productive assets.

As part of the Accord, signatories pledged to invest at least 10% of their defined contribution default funds in private markets by 2030. At least 5 percent of these portfolios will be invested in the UK. This brings more assets into scope and is projected to boost the UK economy by £25 billion by 2030. 

What does this mean for tech?

Investments will increase the capital available for start-ups and scale-ups across emerging technologies like AI, clean tech, life sciences. Along with creating more funding opportunities for private firms.

This marks a step in the right direction and reaffirms the pension industry’s commitment to create a more dynamic investment environment, back high-growth businesses and support UK venture and growth equity.

Alongside this, the British Business Bank has received regulatory approval to deliver the British Growth Partnership by the Financial Conduct Authority. This will provide UK pension funds and other institutional investors with access to the Bank’s extensive pipeline of UK venture capital opportunities, driving more institutional investment into high-growth tech firms. 

techUK, on behalf of our members, look forward to working with the government to deliver on ongoing pension reforms and the ambition to drive more institutional investment into productive assets, including high-growth and innovative companies. However, we note that onus will be on delivery, not just commitment, from pension providers to support this.

 


Mia Haffety

Mia Haffety

Policy Manager - Digital Economy, techUK

Mia joined techUK in September 2023.

Mia focuses on shaping a policy environment that fosters the expansion of the UK tech sector while maximising the transformative potential of technology across all industries.

Prior to joining techUK, Mia worked as a Senior Policy Adviser at the Confederation of British Industry (CBI) within the Policy Unit.

Mia holds an MSc in International Development from the University of Manchester and a BA(Hons) in Politics and International Relations from the University of Nottingham.

Email:
[email protected]
LinkedIn:
https://www.linkedin.com/in/miahaffety/

Read lessmore

Edward Emerson

Edward Emerson

Head of Digital Economy, techUK

Edward leads the Digital Economy programme at techUK, which includes our work on online safety, fraud, and regulation for growth initiatives.

He has prior experience working for the Department for Digital, Culture, Media and Sport and has previously worked for a number of public affairs consultancies specialising in research and strategy, working with leading clients in the technology and financial services sectors.

Email:
[email protected]
LinkedIn:
https://www.linkedin.com/in/edward-emerson-009189183

Read lessmore


techUK's Policy and Public Affairs Programme activities

techUK helps our members understand, engage and influence the development of digital and tech policy in the UK and beyond. We support our members to understand some of the most complex and thorny policy questions that confront our sector. Visit the programme page here.

 

 

Upcoming events

Latest news and insights 

Learn more and get involved

 

Policy Pulse Newsletter

Sign-up to get the latest tech policy news and how you can get involved in techUK's policy work.

 

 

Here are the five reasons to join the Policy and Public Affairs programme

Download

Join techUK groups

techUK members can get involved in our work by joining our groups, and stay up to date with the latest meetings and opportunities in the programme.

Learn more

Become a techUK member

Our members develop strong networks, build meaningful partnerships and grow their businesses as we all work together to create a thriving environment where industry, government and stakeholders come together to realise the positive outcomes tech can deliver.

Learn more

Meet the team 

Antony Walker

Antony Walker

Deputy CEO, techUK

Alice Campbell

Alice Campbell

Head of Public Affairs, techUK

Edward Emerson

Edward Emerson

Head of Digital Economy, techUK

Samiah Anderson

Samiah Anderson

Head of Digital Regulation, techUK

Audre Verseckaite

Audre Verseckaite

Senior Policy Manager, Data & AI, techUK

Mia Haffety

Mia Haffety

Policy Manager - Digital Economy, techUK

Archie Breare

Archie Breare

Policy Manager - Skills & Digital Economy, techUK

Daniella Bennett Remington

Daniella Bennett Remington

Policy Manager - Digital Regulation, techUK

Oliver Alderson

Oliver Alderson

Junior Policy Manager, techUK

Tess Newton

Team Assistant, Policy and Public Affairs, techUK

 

Related topics

Authors

Mia Haffety

Mia Haffety

Policy Manager - Digital Economy, techUK

Mia joined techUK in September 2023.

Mia focuses on shaping a policy environment that fosters the expansion of the UK tech sector while maximising the transformative potential of technology across all industries.

Prior to joining techUK, Mia worked as a Senior Policy Adviser at the Confederation of British Industry (CBI) within the Policy Unit.

Mia holds an MSc in International Development from the University of Manchester and a BA(Hons) in Politics and International Relations from the University of Nottingham.

Email:
[email protected]

Read lessmore