MPs pressure Pension Regulator over support for hedging contracts

Questions raised over why watchdog backed use of risky investment strategies for major pension funds

MPs are heaping pressure on the Pensions Regulator over its support for risky investment strategies that nearly pushed the industry to the brink last week.

The work and pensions committee has written to the watchdog amid concerns that it approved of, and may have even encouraged, the use of popular hedging contracts that magnified the market turmoil triggered by the government's mini-budget, and resulted in a 65bn emergency support package by the Bank of England.