UK Investment and Pensions
Since coming into power, the Labour government has been busy working to deliver promises made in its manifesto. One was a Pensions Review, which was announced in August. While this was widely welcomed by the industry, the choice to reserve the power to influence investment decision continues to be met with criticism. Meanwhile a second part of the review, which focuses on pensions adequacy, has been criticised for taking too long.
Pension Funds in the UK - Country Report
UK country report 2025: Defined benefit pension schemes face surplus unlock dilemma
Defined benefit pension schemes could face some tough decisions on how to deal with surpluses if planned legislative changes to ease access come into effect
TOP UK PENSION FUNDS 2025
Pension fund/entity | Assets (€’000)
- Universities Superannuation Scheme | 91,753,728
- Rothesay Life | 85,363,900
- Pension Insurance Corporation | 61,436,725
- NEST | 58,660,261
- Railways Pension Scheme | 40,620,140
©IPE Research; View the Top 1000 European Pensions Funds 2025 for a comprehensive market overview
UK lifeboat fund confirms zero levy for second year
The Pension Protection Fund, however, confirmed it will maintain a ‘proportionate’ alternative covenant pension fund levy next year
UK publishes sustainability reporting standards
The standards are voluntary for the time being, but the Financial Conduct Authority is currently consulting on changes to the UK’s listing rules
UK populist party plan to end defined benefit fund for staff sparks industry alarm
Reform UK party wants to create a £500bn British sovereign wealth fund that would boost economic growth, and close LGPS funds to new members
UK publisher completes £270m buy-in with M&G for Trinity pension fund
The second, and final, buy-in secures the benefits of 3,200 members of the Trinity Retirement Benefit Scheme
Ardian wins mandate to build portfolio for L&G’s Private Market Asset Fund
The vehicle, part of L&G’s Lifetime Advantage Fund, is designed to provide L&G’s 5.6 million UK defined contribution members greater access to private markets
Faith-based initiative to link peacebuilding with critical mineral supply chains
The coalition, led by the Church of England Pensions Board, is to use peacebuilding to tackle material risk management for global supply chains worldwide
Responsible investors move forward on industry guidance for defence sector
Attitudes towards investing in defence-related sectors are slowly shifting
IBM IT Solutions pension fund completes £700m buy-in with Standard Life
The transaction covers more than 3,600 members of the plan
Sopra Steria retirement fund signs £113m buy-in with PIC
The buy-in deal secures benefits of all 355 members of the Steria Management Plan section of the Sopra Retirement Benefits Scheme
TOP MANAGERS: UK INSTITUTIONAL ASSETS
Company | Assets (€m)
- BlackRock | 827,510
- L&G Asset Management | 782,430
- Insight Investment | 482,937
- Schroder Investment Management | 217,864
- Aberdeen Investments | 219,358
- State Street Global Advisors | 187,754*
- Aviva Investors | 173,518
- JPMorgan Asset Management | 124,059**
- Mercer | 74,098*
- Goldman Sachs Management | 66,631
As at 31.12.24, *31.3.25, **28.2.25
©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
- 2024 - Environment Agency Pension Fund
- 2023 - Pension Protection Fund
- 2022 - Greater Manchester Pension Fund | Pension Protection Fund
- 2021 - BTPS
- 2020 - Environment Agency Pension Fund
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The arrival of AI into the investment process has the potential to vastly amplify existing research-related information disparity
UK lifeboat fund confirms zero levy for second year
The Pension Protection Fund, however, confirmed it will maintain a ‘proportionate’ alternative covenant pension fund levy next year
UK publishes sustainability reporting standards
The standards are voluntary for the time being, but the Financial Conduct Authority is currently consulting on changes to the UK’s listing rules
UK populist party plan to end defined benefit fund for staff sparks industry alarm
Reform UK party wants to create a £500bn British sovereign wealth fund that would boost economic growth, and close LGPS funds to new members
UK publisher completes £270m buy-in with M&G for Trinity pension fund
The second, and final, buy-in secures the benefits of 3,200 members of the Trinity Retirement Benefit Scheme
Ardian wins mandate to build portfolio for L&G’s Private Market Asset Fund
The vehicle, part of L&G’s Lifetime Advantage Fund, is designed to provide L&G’s 5.6 million UK defined contribution members greater access to private markets
Faith-based initiative to link peacebuilding with critical mineral supply chains
The coalition, led by the Church of England Pensions Board, is to use peacebuilding to tackle material risk management for global supply chains worldwide
Responsible investors move forward on industry guidance for defence sector
Attitudes towards investing in defence-related sectors are slowly shifting
IBM IT Solutions pension fund completes £700m buy-in with Standard Life
The transaction covers more than 3,600 members of the plan
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