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
#28 Leaders in Investment podcast: Cecile Retaureau, Head of Private Markets, Standard Life
In conversation with Liam Kennedy, Editorial Director, IPE
UK regulator targets DB, hybrid schemes over dashboards data preparedness
TPR warns DB schemes’ inaccurate value data could undermine pensions dashboards ahead of October connection deadline
LGPS pool hires former Brunel staff as Bristol office opens
Local Pensions Partnership Investments expands team and regional presence after onboarding six new partner funds and increasing AUM
UK pension professionals call for debate on lifeboat fund surplus use
Society of Pension Professionals urges consultation on future use of Pension Protection Fund’s £14bn reserve surplus
Run-on momentum builds as XPS unveils integrated scheme solution
Defined benefit pension funds accelerate run-on planning as XPS launches integrated solution ahead of surplus regime changes
Investors seek support for pressure on Shell climate disclosure
Major pension funds representing over €1trn in assets are pressuring Shell ahead of its AGM, following BP’s shareholder revolt over similar climate disclosure demands
UK regulator outlines six priorities in refreshed five-year strategy
TPR plans to publish the final version of its strategy in July, alongside its Corporate Plan
Hermes pushes back against wind farm claim in high court defence
The asset manager says unforeseen Swedish power market disruption, not mismanagement, drove losses in North East Scotland Pension Fund wind investment
Dear CIOs – ESG is in our job description
Dan Mikulskis, CIO of People’s Partnership, sets out how a shift from persuasion to enablement is needed for CIOs to effectively lead the next phase of ESG
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
Interviews
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Dear CIOs – ESG is in our job description
Dan Mikulskis, CIO of People’s Partnership, sets out how a shift from persuasion to enablement is needed for CIOs to effectively lead the next phase of ESG
Efforts to raise trustee standards must preserve what works
Morten Nilsson of Brightwell Pensions on avoiding the onerous requirements that could further shrink the pool of lay trustees
UK regulator targets DB, hybrid schemes over dashboards data preparedness
TPR warns DB schemes’ inaccurate value data could undermine pensions dashboards ahead of October connection deadline
LGPS pool hires former Brunel staff as Bristol office opens
Local Pensions Partnership Investments expands team and regional presence after onboarding six new partner funds and increasing AUM
UK pension professionals call for debate on lifeboat fund surplus use
Society of Pension Professionals urges consultation on future use of Pension Protection Fund’s £14bn reserve surplus
Run-on momentum builds as XPS unveils integrated scheme solution
Defined benefit pension funds accelerate run-on planning as XPS launches integrated solution ahead of surplus regime changes
Investors seek support for pressure on Shell climate disclosure
Major pension funds representing over €1trn in assets are pressuring Shell ahead of its AGM, following BP’s shareholder revolt over similar climate disclosure demands
UK regulator outlines six priorities in refreshed five-year strategy
TPR plans to publish the final version of its strategy in July, alongside its Corporate Plan
Hermes pushes back against wind farm claim in high court defence
The asset manager says unforeseen Swedish power market disruption, not mismanagement, drove losses in North East Scotland Pension Fund wind investment
Dear CIOs – ESG is in our job description
Dan Mikulskis, CIO of People’s Partnership, sets out how a shift from persuasion to enablement is needed for CIOs to effectively lead the next phase of ESG
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