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
British Business Bank to establish British Growth Partnership
The UK government will also implement reforms to the Bank’s financial framework
WTW and Carne Group get approval for private equity LTAF
WTW has further plans for other solutions to follow for savers across the UK, Europe and internationally
Royal Mail’s journey to CDC
A number of other pension schemes are already interested in the CDC concept, including the Church of England Pensions Board
NEST picks WTW, Hymans Robertson to launch new retirement income offering
NEST Pensions is also building on its products, services, guidance and tools to provide members with a lifelong, sustainable income
Eoin Murray joins Rebalance Earth as chief investment officer
The company plans to mobilise £10bn to restore nature at landscape and seascape level in the UK
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
Interviews
- Previous
- Next
Why we need to talk about the birthrate
If you live in a big city like London, and if you look hard enough, you are sure to find signs of a falling birthrate.
British Business Bank to establish British Growth Partnership
The UK government will also implement reforms to the Bank’s financial framework
WTW and Carne Group get approval for private equity LTAF
WTW has further plans for other solutions to follow for savers across the UK, Europe and internationally
Royal Mail’s journey to CDC
A number of other pension schemes are already interested in the CDC concept, including the Church of England Pensions Board
NEST picks WTW, Hymans Robertson to launch new retirement income offering
NEST Pensions is also building on its products, services, guidance and tools to provide members with a lifelong, sustainable income
Eoin Murray joins Rebalance Earth as chief investment officer
The company plans to mobilise £10bn to restore nature at landscape and seascape level in the UK
Isio acquires K3 Advisory to enhance risk settlement capabilities
The K3 Advisory team and brand will continue to operate as a distinct service offering within the Isio group
Church of England Pensions Board completes £145m buy-in with Aviva
All pensions within the Church Workers Pension Fund are now secured with insurers
Michelin Pension scheme completes £1.5bn buy-in with Aviva
The transaction secures benefits of circa 15,000 scheme members
Hertfordshire Pension Fund allocates £100m to Osmosis’ core equity strategy
The allocation takes Osmosis’ LGPS AUM to over £1bn
LPFA CEO steps down after four years
Robert Branagh was appointed as CEO of LPFA in April 2020
Copyright © 1997–2024 IPE International Publishers Limited, Registered in England, Reg No. 3233596, VAT No. 685 1784 92. Registered Office: 1 Kentish Buildings, 125 Borough High Street, London SE1 1NP