People’s Pension set to join world’s top 100 asset owners as assets reach £40bn
Passing £40bn in assets marks a major step in strengthening the long-term value, security and influence of People’s Pension — delivering greater investment scale for members and reinforcing confidence among employers and advisers.
People’s Pension has reached a significant new milestone, with assets under management (AUM) now exceeding £40bn. This achievement strengthens our position as the UK’s largest commercial master trusts and one of the nation’s fastest-growing asset owners.
In the past 14 months, the scheme has grown by an additional £10bn, and forecasts suggest it is on track to reach £50bn within the next two years and £100bn within the next decade. This growth trajectory puts People’s Pension firmly on the path toward becoming one of the world’s top 100 asset owners.
Mark Condron, Chair of People’s Pension Trustee, said: “Just over a year ago, we passed £30bn assets under management, and to already be at £40bn is a huge achievement for People’s Pension.”
Delivering long-term value for over seven million members
This rapid expansion reflects strong investment performance, employer trust, and a longstanding commitment to improving outcomes for members.
As assets grow, so does the scheme’s ability to:
- leverage scale for better value
- innovate its investment strategy
- secure long-term benefits for its seven million members.
Dan Mikulskis, Chief Investment Officer at People’s Partnership, commented on the achievement: “Reaching £40bn in assets under management marks yet another significant moment in the evolution of People’s Pension and reflects the confidence placed in us by members, employers, and advisers.”
He highlighted that the scheme’s continued growth “brings with it greater responsibility” – reinforcing a focus on using scale effectively to drive value for members.
Strengthening an investment strategy for the future
Throughout 2025, People’s Pension made several strategic investment changes designed to support long-term performance and governance.
Key developments included:
- Transitioning £28bn into segregated mandates
- Appointing Amundi and Invesco as new asset managers
- Selecting Robeco to manage its £3.6bn emerging markets equities portfolio.
These moves deepen inhouse investment capabilities and ensure the scheme’s portfolio is positioned to meet members’ needs over the long term.
Scale that supports a pension with purpose
At a time of government led reforms encouraging consolidation and stronger governance, People’s Pension’s growth demonstrates its ability to meet evolving expectations.
David Meliveo, Chief Commercial Officer at People’s Partnership, said: “Achieving £40bn assets under management reaffirms that People’s Pension has the scale required to meet expectations. As a pension with purpose, and with no shareholders to pay, we’re able to use our growing scale to benefit advisers, employers and most importantly our members.”
With no shareholders and a not-for-profit ethos, the scheme reinvests its scale and efficiencies back into improving member outcomes.
