UK: Pensions and Investment News and Analysis
Britain’s new Labour government has promised a review of pensions but immediately got itself into hot political water by announcing cuts to a winter heating allowance for retirees. In fact, the priorities of the new chancellor of the exchequer, Rachel Reeves and pensions minister Emma Reynolds, align very strongly with the policies of the previous Conservative administration, which aimed to boost growth by unlocking investment in the UK and making pension funds more efficient – a series of policies collectively known as the Mansion House reforms. For its part, the pensions sector wants the government to focus on consolidation and to increase the minimum contributions under the otherwise successful auto-enrolment system. A new funding code for the sizeable DB pension sector was set to come into force this autumn but transfers of DB pension assets to insurers via bulk annuities or full buyouts continue apace.
Pension Funds in the UK - Country Report
UK Country Report 2024: Is buyout still the gold standard for pension funds?
Improved funding positions mean more DB schemes are considering run-on rather than off-loading their liabilities
TOP UK PENSION FUNDS 2024
Pension fund/entity | Assets (€’000)
- Universities Superannuation Scheme | 91,362,766
- Rothesay Life | 70,498,261
- Pension Insurance Corporation | 54,006,590
- NEST | 46,870,083
- BT Group plc | 42,725,412
©IPE Research; View the Top 1000 European Pensions Funds 2024 for a comprehensive market overview
Jenny Buck joins London CIV as CIO
Buck will take up her new role as London CIV’s CIO in early March
Brunel, NEST to help steer body eyeing ‘friction’ in UK equity markets
Investor & Issuer Forum to tackle contentious issues to enhance London’s equity market
L&G master trust reaches £30bn in assets under management
According to L&G, it is the first commercial master trust in the UK to reach the milestone
LGPS Central reaches £43bn AUM with oversight and stewardship mandate
Partner funds have appointed LGPS Central to provide oversight and stewardship services for over £11bn in passive funds
Schroders wins £170m fiduciary management mandate
Mandate involves integrating ESG factors into investment decision for Royal National Institute of Blind People Retirement Benefits Pension Scheme
TOP MANAGERS: UK INSTITUTIONAL ASSETS
Company | Assets (€m)
- Legal & General Investment Mngt. | 817,085
- BlackRock | 744,072
- Insight Investment | 514,576
- Abrdn | 228,230
- Schroders Investment Management | 219,358
- Aviva Investors | 216,445
- State Street Global Advisors | 209,020**
- JPMorgan Asset Management | 116,988*
- Goldman Sachs Asset Management | 75,557***
- M&G Investment Management | 61,013****
As at 31.12.23, *29.2.24, **31.3.24, ***09.4.24, ****30.6.23
©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
- 2023 - Pension Protection Fund
- 2022 - Greater Manchester Pension Fund | Pension Protection Fund
- 2021 - BTPS
- 2020 - Environment Agency Pension Fund
- 2019 - Pension Protection Fund
Interviews
- Previous
- Next
Why we need to talk about the birthrate
If you live in a big city like London, and if you look hard enough, you are sure to find signs of a falling birthrate.
Jenny Buck joins London CIV as CIO
Buck will take up her new role as London CIV’s CIO in early March
Brunel, NEST to help steer body eyeing ‘friction’ in UK equity markets
Investor & Issuer Forum to tackle contentious issues to enhance London’s equity market
L&G master trust reaches £30bn in assets under management
According to L&G, it is the first commercial master trust in the UK to reach the milestone
LGPS Central reaches £43bn AUM with oversight and stewardship mandate
Partner funds have appointed LGPS Central to provide oversight and stewardship services for over £11bn in passive funds
Schroders wins £170m fiduciary management mandate
Mandate involves integrating ESG factors into investment decision for Royal National Institute of Blind People Retirement Benefits Pension Scheme
26 UK councils call on chancellor to remove ‘principal advice’ on asset allocation
Chancellor Rachel Reeves proposes that LGPS pools replace role provided by investment consultants and independent advisers in providing investment strategy advice
Taskforce on inequality and social-related financial disclosures unveils new committee
Among the organisations represented in the committee are ING, CalPERS and AXA
Consolidation of UK LGPS funds branded ‘hazardously ambitious’
The government plans to consolidate LGPS funds into handful of ‘megafunds’ to allow more investment in infrastructure
Mandating minimum size for DC schemes won’t push for UK investment
Consolidating DC schemes will take a long time, cause massive cost and disruption and may still fail to deliver government’s objectives, says LCP
The People’s Pension targets £4bn private markets investment
The independent master trust aims to appoint a private markets specialist and to create a research capability, initially investing in infrastructure and real estate
Copyright © 1997–2025 IPE International Publishers Limited, Registered in England, Reg No. 3233596, VAT No. 685 1784 92. Registered Office: 1 Kentish Buildings, 125 Borough High Street, London SE1 1NP