Oxford News
Government wins vote on controversial pension shake-up
The Government’s latest reforms to workplace pensions have cleared the Commons, with a controversial power to influence where pension funds invest reinstated after being removed by peers.
At the centre of the dispute is a so-called “mandation” power, which could allow ministers to push pension schemes to invest in UK projects.
Critics say this risks political interference in people’s retirement savings.
But the Government insists it is only a backup power to improve returns for savers.
Work and pensions minister Torsten Bell told MPs the policy is about boosting outcomes.
He said the power has “one purpose, supporting better outcomes for savers”.
He added the pensions industry has been held back by an over-focus on costs, saying: “Giving the industry certainty that they can do what is in savers’ interest… is the only purpose of the reserve power.”
Critics warn of risks to pensions
Opposition MPs and peers raised alarm over the plans.
Steve Darling said: “Mandation is the dead hand of government on growth for people’s pensions.”
He warned: “We fear that going ahead with this would be feckless and dangerous for our pensioners.”
Meanwhile, Helen Whately claimed forcing funds to invest in certain areas could backfire.
She said it “risks lowering returns for savers and therefore their future incomes”.
Government hits back at ‘scaremongering’
Labour MP Debbie Abrahams dismissed the criticism as “dangerous scaremongering”.
Torsten Bell also accused opponents of hypocrisy, claiming some had privately supported the plans.
What the reforms actually mean
The wider pension reforms aim to:
- Help savers get better returns
- Make it easier to track and manage pension pots
- Improve information about retirement options
- Encourage investment that supports the UK economy
They mainly affect people in defined contribution pensions, where your retirement income depends on how investments perform.
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The UK pensions market holds trillions of pounds in savings.
Any change to how that money is invested could have a direct impact on:
- Your retirement income
- Pension growth over time
- Where your money is invested
Next steps for pension reform
The bill will now return to the House of Lords as the back-and-forth process continues before it can become law.
MPs say the reforms could boost pensions and strengthen the economy. Critics warn they could do the opposite.
For savers, the outcome could shape how your pension grows for decades – and who ultimately decides where your money is invested.
Record Store Day – tomorrow – is the one day of the year when over 260 independent record shops all across the UK come together to celebrate their unique culture.
Special vinyl releases are made exclusively for the day and many shops and cities host artist performances and events to mark the occasion.
READ MORE: M&S brings in changes to shop layout
Customers can’t place an order in advance – they have to take their chance and queue up on the day.
Truck Store in Cowley Road, Oxford, this year celebrating its 15th birthday, is looking forward to one of its busiest days of the year, with staff sorting out about 500 Record Store Day releases. Truck Store in Witney is also taking part.
“There will definitely be queues outside both stores and both will open at 8am,” said Truck’s Harry Gledhill.
“It’s going to be a very busy day and then there will be an after party at The Bullingdon in Cowley Road, with Willie J Healey playing a set.
“I know some people queue up all night to try to make sure they get what they want.”
Among the big sellers will be a 7 inch Taylor Swift release of her song Elizabeth Taylor, priced at £19.99.
And a five album Bruce Springsteen boxset of a homecoming show at Asbury Park from 2024 will cost more than £80.
Special editions and reissues have become increasingly popular in recent years as vinyl fans look to upgrade their collections.
Releases by Charli XCX and Elton John are also expected to be big sellers this year.
Record Store Day officially launched in California in 2008 and now it is celebrated by music fans across the globe.
The Iffley Academy in Oxford closed today due to “an issue with flooding” according to the Oxfordshire County Council website.
This is confirmed on the school’s website.
The outstanding rated special school is for children and young people up to the age of 18 with complex special educational needs and disabilities.
READ MORE: Oxford mental health nurse faces possible ban amid misconduct hearing
Students have education, health and care plans with a range of needs but primarily it works with students with moderate cognition and learning difficulties, autistic spectrum disorder and social, emotional and mental health difficulties.
It was designated as a teaching school in 2018 and is part of an aspirational Multi Academy Trust – The Gallery Trust.
The academy which is in the Iffley area of the city, is not expected to reopen until Monday, April 20.
Last month it was announced that Helen Pike has decided to step down as master of Magdalen College School in east Oxford at the end of the 2026/27 academic year.
She has been master at the school for the past 11 years, was the first female master at MCS, and guided the board of governors to one of the most significant decisions in the school’s history – to become fully co-educational from 2027.
READ MORE: Oxford private school headteacher to leave after 11 years
While there has been a co-educational sixth form at the school for 15 years, the school has announced it will become fully co-educational over the coming decade.
MCS is one of the top performing schools in the country, ranking in the top 20 independent secondary schools in The Sunday Times Parent Power Schools Guide 2026.
Ms Pike said earlier she was looking forward to a new phase in her professional life, “one that builds on all that I have enjoyed and achieved in my career during the past 30 years”.
As the headteacher considers a career move, governors at the school have started the recruitment process to find the right replacement.
Chairman of the board of governors Bob Price said in a letter to parents: “Helen will not be handing over the reins until August next year, which will allow a substantial and smooth period of transition before she moves on to pursue the next stage in a stellar career.
“There will be many opportunities over the coming year to celebrate Helen’s achievements, and to thank her fully for all she has done for MCS.
“The process of recruiting a new Master is already under way, and is being led by a panel of governors that includes two experienced former Heads and three other long serving governors.
“We are being supported by a leading recruitment firm, Odgers, which has worked for many years with a wide range of leading independent schools on similar senior appointments.
“I will of course keep you in touch with progress and hope to be in a position to provide an update by the end of the academic year.”
During Ms Pike’s tenure, MCS has been recognised as a top 20 independent school and south east school of the year by the Sunday Times and won independent school of the year for social mobility.
As part of the school’s expansion plans, MCS is preparing to build a new science, library and partnerships building.
A spokeswoman said earlier the new building will offer an exciting opportunity to reimagine the senior school site as staff look ahead to full co-education.
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