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
Bakkavor pension fund completes £160m buy-in with Rothesay
The transaction secures the pension benefits for all 2,216 pension fund members
Pension reform drive gathers pace as Bill receives Royal Assent
Bill becomes law after long parliamentary battle, with key powers scaled back and implementation now crucial
UK regulator targets funded reinsurance with tougher insurer capital rules
Prudential Regulation Authority raises capital requirements for funded reinsurance, aiming to curb risk and strengthen insurer resilience
‘Mandation-lite’ framework remains as Pension Schemes Bill debate concludes
Final UK parliamentary agreement clears Pension Schemes Bill for Royal Assent after last-minute concessions on investment reserve powers
DC consolidation raises fears over loss of governance voice, LCP warns
LCP warns DC consolidation concentrates pension power, risking weaker governance, reduced accountability and stakeholder influence
Local Government Pension Schemes back Schroders Capital UK venture LTAF
Lambeth pension fund allocation drives Schroders Capital LTAF past £100m, signalling momentum for DC venture access
Border to Coast launches just transition overlay
‘First of its kind’ overlay captures how LGPS pool integrates social dimensions of energy transition into its investment and stewardship activities
Pension Schemes Bill at risk of collapsing as ‘mandation’ deadlock continues
The House of Lords voted 234 to 152 to send it back to the Commons for further discussion
Shareholder revolt at BP AGM over climate and governance
Early reports suggest investors have voted against management on two key proposals
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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Deep tech now represents 31% of all UK venture funding – a threefold increase from a decade ago
Bakkavor pension fund completes £160m buy-in with Rothesay
The transaction secures the pension benefits for all 2,216 pension fund members
Pension reform drive gathers pace as Bill receives Royal Assent
Bill becomes law after long parliamentary battle, with key powers scaled back and implementation now crucial
UK regulator targets funded reinsurance with tougher insurer capital rules
Prudential Regulation Authority raises capital requirements for funded reinsurance, aiming to curb risk and strengthen insurer resilience
‘Mandation-lite’ framework remains as Pension Schemes Bill debate concludes
Final UK parliamentary agreement clears Pension Schemes Bill for Royal Assent after last-minute concessions on investment reserve powers
DC consolidation raises fears over loss of governance voice, LCP warns
LCP warns DC consolidation concentrates pension power, risking weaker governance, reduced accountability and stakeholder influence
Local Government Pension Schemes back Schroders Capital UK venture LTAF
Lambeth pension fund allocation drives Schroders Capital LTAF past £100m, signalling momentum for DC venture access
Border to Coast launches just transition overlay
‘First of its kind’ overlay captures how LGPS pool integrates social dimensions of energy transition into its investment and stewardship activities
Pension Schemes Bill at risk of collapsing as ‘mandation’ deadlock continues
The House of Lords voted 234 to 152 to send it back to the Commons for further discussion
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