As we look back on the past year, we're proud to share the progress we've made together. From strengthening our financial position to enhancing the services we provide, it’s been a year of meaningful change and improvements for the Fund and its members.
We’ve continued to invest in digital transformation, making it easier for members and employers to access the support they need. Our funding position has grown stronger, with assets now at £5.8 billion and a funding level of 102% - up from 98% last year.
Behind the scenes, our dedicated teams have been working hard to deliver better service, and we’ve made strides in staffing, training, and service levels. We’ve paid out £251 million in benefits and advanced our goals as responsible investors, including progress on net zero and local investments.
While growing employer numbers and increasing complexity present challenges, we’ve responded by restructuring our administration function to improve service and embrace digitalisation. Looking ahead to 2025/26, we’re committed to building on this momentum - continuing to enhance member and employer services and further modernising pension administration.
A year in numbers
