UK: Pensions and Investment News and Analysis
Britain’s new Labour government has promised a review of pensions but immediately got itself into hot political water by announcing cuts to a winter heating allowance for retirees. In fact, the priorities of the new chancellor of the exchequer, Rachel Reeves and pensions minister Emma Reynolds, align very strongly with the policies of the previous Conservative administration, which aimed to boost growth by unlocking investment in the UK and making pension funds more efficient – a series of policies collectively known as the Mansion House reforms. For its part, the pensions sector wants the government to focus on consolidation and to increase the minimum contributions under the otherwise successful auto-enrolment system. A new funding code for the sizeable DB pension sector was set to come into force this autumn but transfers of DB pension assets to insurers via bulk annuities or full buyouts continue apace.
Pension Funds in the UK - Country Report
UK Country Report 2024: Is buyout still the gold standard for pension funds?
Improved funding positions mean more DB schemes are considering run-on rather than off-loading their liabilities
TOP UK PENSION FUNDS 2024
Pension fund/entity | Assets (€’000)
- Universities Superannuation Scheme | 91,362,766
- Rothesay Life | 70,498,261
- Pension Insurance Corporation | 54,006,590
- NEST | 46,870,083
- BT Group plc | 42,725,412
©IPE Research; View the Top 1000 European Pensions Funds 2024 for a comprehensive market overview
TPT launches £800m liquid alternatives fund
This is TPT Investment Management’s fourth fund in a series of seven planned funds
LTAF ‘entirely’ aligned with Mansion House Compact gets regulatory approval
The LTAF has been set up by Future Growth Capital – the private markets investment manager launched by Schroders and Phoenix Group
UK should not try to replicate Australian pensions model but learn from it
Australian pensions industry can help UK navigate through challenges
UK investment industry needs to be proactive in driving change
Government cannot afford not to listen to asset owners, says Smart Pension CEO
UK review reinforces need for transition plans
Transition Finance Market Review also calls for better use of public finance institutions
TOP MANAGERS: UK INSTITUTIONAL ASSETS
Company | Assets (€m)
- Legal & General Investment Mngt. | 817,085
- BlackRock | 744,072
- Insight Investment | 514,576
- Abrdn | 228,230
- Schroders Investment Management | 219,358
- Aviva Investors | 216,445
- State Street Global Advisors | 209,020**
- JPMorgan Asset Management | 116,988*
- Goldman Sachs Asset Management | 75,557***
- M&G Investment Management | 61,013****
As at 31.12.23, *29.2.24, **31.3.24, ***09.4.24, ****30.6.23
©IPE Research; Sign up to IPE Profesional to see all the data in the latest country report
IPE BEST PENSION FUND IN THE UK AWARD WINNERS
- 2023 - Pension Protection Fund
- 2022 - Greater Manchester Pension Fund | Pension Protection Fund
- 2021 - BTPS
- 2020 - Environment Agency Pension Fund
- 2019 - Pension Protection Fund
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TPT launches £800m liquid alternatives fund
This is TPT Investment Management’s fourth fund in a series of seven planned funds
LTAF ‘entirely’ aligned with Mansion House Compact gets regulatory approval
The LTAF has been set up by Future Growth Capital – the private markets investment manager launched by Schroders and Phoenix Group
UK should not try to replicate Australian pensions model but learn from it
Australian pensions industry can help UK navigate through challenges
UK investment industry needs to be proactive in driving change
Government cannot afford not to listen to asset owners, says Smart Pension CEO
UK review reinforces need for transition plans
Transition Finance Market Review also calls for better use of public finance institutions
Aon launches investment strategy framework for UK pension schemes
‘The Zone Framework allows trustees and sponsors to ask the right questions and to identify clearly what success means to them,’ says Aon
DWP confirms ‘pot for life’ no longer on government’s agenda
Pensions industry has previously raised concerns over the proposed lifetime model
VfM and proposed Red-Amber-Green assessment ‘too blunt and severe’
The pensions industry is also concerned over the extensive set of disclosures proposed by the regulator
LGPS duo launches admin shared service
Services will be provided to more than 270,000 fund members and nearly 500 employers, making this one of the largest operations in the LGPS
UK pensions minister prioritises ‘unlocking true potential’ of pension investment
Emma Reynolds wants to ‘realise its potential to help grow the economy by investing in UK productive assets and home-grown businesses of all sizes’
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