The People's Pension is a British trust-based defined contribution workplace pension scheme for non-associated employers, commonly referred to as a master trust. After the UK's Pensions Act 2008 established new duties requiring employers to automatically enrol eligible workers into a workplace pension plan that meets certain minimum standards, [1] the People's Pension was set up in 2011 by B&CE (now called People's Partnership) for employers requiring a scheme to fulfil their duties under the Act from October 2012. [2] The People's Pension announced that its number of members had surpassed 1 million in September 2014. [3]
In February 2025, following a review of its responsible investment policy, People's Pension withdrew £28 billion from State Street, in response to the company's retreat from Environmental, Social, and Governance principles. The People’s Pension redistributed £20 billion in developed market equity mandate managed by Amundi and invested a further £8 billion in fixed-income assets managed by Invesco. The People’s Pension retained just £5 billion with State Street, which had previously managed all of its assets. [4]
Mark Condron, chair of trustees for The People’s Pension, explained that Amundi and Invesco were selected to "prioritise sustainability, active stewardship and long-term value creation". [4]
In February 2025, it was reported that the People's Pension fund was valued at £33 billion and was forecast to reach £60 billion by the end of the decade. [4]
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