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 pensions minister to introduce statutory guidance on fiduciary duty
But the formal proposal for an amendment to legislation has proved popular with MPs
CDC rollout risks faltering without clearer government roadmap
Collective Defined Contribution pension funds could be a ‘game-changer’, but only if people understand it, consultants say
Stagecoach transfers £1.2bn pension fund to Aberdeen
Aberdeen will receive a minority share of any surplus generated
People’s Pension adds to equity manager roster with £3.6bn EM mandate
Appointing Robeco represents a shift from a passive approach to an active quantitative strategy for UK pension fund’s emerging markets portfolio
UK’s Church Commissioners ‘sharpens’ criteria for defence investments
The new approach will make it ‘harder to invest in companies linked to oppressive regimes’, says Church Commissioners for England
Four major investor groups join good governance campaign
The campaign will focus engagement on the Draft Audit Reform and Corporate Governance Bill
Trustees urged to upskill as pension funds embrace private markets
‘Private market allocations have nearly tripled across UK pension schemes since 2019’, says Pensions Management Institute guide
UK regulator launches consultation on ESG rating rules
FCA’s proposed regime includes minimum public transparency requirements and top-up disclosures for direct users
CF Fertilisers UK completes £265m buy-in for two pension funds with M&G
Transaction provides pension solutions to over 1,350 retirees and deferred members
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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Viewpoint: Australia’s retirement savings model is shaping the UK’s investment future
Deeper pensions and investment ties between Australia and the UK make sense, says Gregg McClymont, IFM Investors’ executive director of public affairs, EMEA
UK pensions and private markets: the Mansion House Accord’s promise and perils
The task of channeling more UK DC pension savings towards domestic private markets is fraught with institutional, regulatory and cultural obstacles
UK pensions minister to introduce statutory guidance on fiduciary duty
But the formal proposal for an amendment to legislation has proved popular with MPs
CDC rollout risks faltering without clearer government roadmap
Collective Defined Contribution pension funds could be a ‘game-changer’, but only if people understand it, consultants say
Stagecoach transfers £1.2bn pension fund to Aberdeen
Aberdeen will receive a minority share of any surplus generated
People’s Pension adds to equity manager roster with £3.6bn EM mandate
Appointing Robeco represents a shift from a passive approach to an active quantitative strategy for UK pension fund’s emerging markets portfolio
UK’s Church Commissioners ‘sharpens’ criteria for defence investments
The new approach will make it ‘harder to invest in companies linked to oppressive regimes’, says Church Commissioners for England
Four major investor groups join good governance campaign
The campaign will focus engagement on the Draft Audit Reform and Corporate Governance Bill
Trustees urged to upskill as pension funds embrace private markets
‘Private market allocations have nearly tripled across UK pension schemes since 2019’, says Pensions Management Institute guide
UK regulator launches consultation on ESG rating rules
FCA’s proposed regime includes minimum public transparency requirements and top-up disclosures for direct users
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