People's Pension to plough billions into UK infrastructure and real estate
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The People’s Pension, one of the UK's largest independent master trusts, has announced it is gearing up to make substantial investments in private markets. The scheme, which supports over 6.8 million pension savers and boasts £31bn in managed assets, aims to ramp up its investment allocation to £4bn by 2030, initially focusing on areas like infrastructure and real estate. The decision could mean a boon for the UK economy if suitable assets meet the trust's expected returns.
The People’s Pension emphasized the need for a "dependable pipeline" of high-quality assets that will deliver returns at reasonable fees, ensuring members reap the benefits. Following last year's declaration of achieving sufficient scale for significant private market investments, Chancellor Rachel Reeves welcomed the move, stating: "Growing the economy is the number one mission of the Government.".
She added, "This public commitment from one of the UK’s largest independent pension master trusts to invest here, at home in Britain, will help drive economic growth and support our milestone of improving living standards across the UK.". "Growing the economy is the number one mission of the Government.This public commitment from one of the UK’s largest independent pension master trusts to invest here, at home in Britain, will help drive economic growth and support our milestone of improving living standards across the UK.".
Mark Condron, chair of the People’s Pension board of trustees, has heralded a new era in pension investment strategy stating: "What we are announcing today is a significant step forward on the path towards the People’s Pension investing in private markets, including key parts of the UK economy.
