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
Pension Schemes Bill debate in House of Lords highlights scale mandate concerns
Members of the House of Lords question £25bn scale requirement, arguing that compulsion could stifle innovation
UK pension regulator urges trustees to respond to value for money consultation
Regulator says trustees will be the ones driving improvements in value and challenging advisers and service providers to deliver more for savers
Corporate sole trustees sharpen governance and speed decisions, sponsors say
UK-based pension fund sponsors have reported that the professional corporate sole trustee (PCST) model improves governance, efficiency and speed of decision making for their schemes.
Oxford pension fund completes £213m bulk annuity transaction
The transaction, which was conducted by Roayl London and finalised in December, covers more than 1,600 members
Swiss pension fund to anchor AllianzGI $1bn EM blended finance fund
GastroSocial Pensionskasse is set to anchor the Allianz Credit Emerging Markets fund, which has reached its first close at $690m
UK Pension Schemes Bill surplus rules favour employers over members, peers warn
During proceedings, peers questioned both language and content of Clause 9, arguing the Bill fails to define what constitutes a surplus
Chair of £150bn asset owner campaign bemoans UK audit reform bill discard
Scrapping the bill is the wrong decision, according to Caroline Escott, chair of the pension fund-backed Governance for Growth Investor Campaign
Asset owners push oil giants on financial resilience strategy
Several UK local authority pension funds, alongside 23 other institutional investors, are asking Shell and BP to clarify strategies on how they protect shareholder value
Lords debate UK Pension Schemes Bill role in the future of LGPS
Pension Schemes Bill reaches committee stage in the House of Lords
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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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
Pension Schemes Bill debate in House of Lords highlights scale mandate concerns
Members of the House of Lords question £25bn scale requirement, arguing that compulsion could stifle innovation
UK pension regulator urges trustees to respond to value for money consultation
Regulator says trustees will be the ones driving improvements in value and challenging advisers and service providers to deliver more for savers
Corporate sole trustees sharpen governance and speed decisions, sponsors say
UK-based pension fund sponsors have reported that the professional corporate sole trustee (PCST) model improves governance, efficiency and speed of decision making for their schemes.
Oxford pension fund completes £213m bulk annuity transaction
The transaction, which was conducted by Roayl London and finalised in December, covers more than 1,600 members
Swiss pension fund to anchor AllianzGI $1bn EM blended finance fund
GastroSocial Pensionskasse is set to anchor the Allianz Credit Emerging Markets fund, which has reached its first close at $690m
UK Pension Schemes Bill surplus rules favour employers over members, peers warn
During proceedings, peers questioned both language and content of Clause 9, arguing the Bill fails to define what constitutes a surplus
Chair of £150bn asset owner campaign bemoans UK audit reform bill discard
Scrapping the bill is the wrong decision, according to Caroline Escott, chair of the pension fund-backed Governance for Growth Investor Campaign
Asset owners push oil giants on financial resilience strategy
Several UK local authority pension funds, alongside 23 other institutional investors, are asking Shell and BP to clarify strategies on how they protect shareholder value
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