The Pensions and Lifetime Savings Association (PLSA), in conjunction with the Association of British Insurers (ABI), and the City of London Corporation, has announced the Mansion House Accord, a voluntary initiative signed by 17 major UK workplace pension providers. Under the Accord, signatories have committed to investing at least 10% of their defined contribution (DC) default funds in private markets by 2030, with 5% specifically allocated to UK investments. The agreement covers pension assets currently valued at £252bn and builds on the 2023 Mansion House Compact, while maintaining separate objectives. Key signatories include: Aegon UK, Aviva, Legal & General, Nest, the Phoenix Group, and the Universities Superannuation Scheme, among others. Implementation of the commitments depends on government and regulatory support and remains subject to fiduciary and Consumer Duty obligations.