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 dashboard programme calls for data quality ahead of deadline
Pension funds are urged to fix data issues as pensions dashboard connection October 2026 deadline approaches
Former UK pensions minister claims VFM framework is ‘utterly unworkable’
Guy Opperman criticises UK’s proposed Value for Money framework as unworkable, as Pension Schemes Bill nears approval
Emma Douglas named chair of UK Pensions Regulator
Her five-year term begins on 1 July 2026, when current interim chair Kirstin Baker steps down
Videndum pension fund joins Clara-Pensions
Clara will also inject additional ringfenced capital into the scheme, enhancing security of members’ benefits as they begin journey to an insured buyout
Wellcome Trust Pension Plan appoints L&G as fiduciary manager
As part of the mandate, L&G will oversee £800m of assets on behalf of more than 3,500 pension fund members
Border to Coast and Railpen announce plans to vote against BP
UK pension investors flag concerns about transparency and governance at the oil and gas major BP
Standard Life acquires Aegon to create £480bn powerhouse
Transaction establishes Standard Life as UK’s second largest workplace pensions platform by assets, adding £74bn assets under administration and 2.1 million customers
NEST awards £450m direct lending mandate to Crescent Capital Group
The UK workplace pension scheme aims to allocate 30% of its AUM to private markets by 2030
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
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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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
The UK’s ‘deep tech’ sector: a paradox for policymakers and institutional investors
Deep tech now represents 31% of all UK venture funding – a threefold increase from a decade ago
UK pensions dashboard programme calls for data quality ahead of deadline
Pension funds are urged to fix data issues as pensions dashboard connection October 2026 deadline approaches
Former UK pensions minister claims VFM framework is ‘utterly unworkable’
Guy Opperman criticises UK’s proposed Value for Money framework as unworkable, as Pension Schemes Bill nears approval
Emma Douglas named chair of UK Pensions Regulator
Her five-year term begins on 1 July 2026, when current interim chair Kirstin Baker steps down
Videndum pension fund joins Clara-Pensions
Clara will also inject additional ringfenced capital into the scheme, enhancing security of members’ benefits as they begin journey to an insured buyout
Wellcome Trust Pension Plan appoints L&G as fiduciary manager
As part of the mandate, L&G will oversee £800m of assets on behalf of more than 3,500 pension fund members
Border to Coast and Railpen announce plans to vote against BP
UK pension investors flag concerns about transparency and governance at the oil and gas major BP
Standard Life acquires Aegon to create £480bn powerhouse
Transaction establishes Standard Life as UK’s second largest workplace pensions platform by assets, adding £74bn assets under administration and 2.1 million customers
NEST awards £450m direct lending mandate to Crescent Capital Group
The UK workplace pension scheme aims to allocate 30% of its AUM to private markets by 2030
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