We’re proud of our strong track record of performance, meeting regulatory requirements and holding ourselves accountable to our own targets.
Key moments in our history
Founded as part of the Pensions Act in 2004, we officially began life in 2005.
2005: We open our doors for the first time
2006: We already look after 13 schemes, with 7,345 members
2007: The MG Rover Group Pension Scheme formally transfers to us, bringing security in retirement to more than 6,000 people
2008: We now pay out pensions to 13,000 members from 66 schemes
2010: 113 schemes have joined us – we now look after 34,286 people
2012: The UK Coal Pension Scheme transfers to us as part of a restructure that saves 2,000 jobs
2014: We bring customer service for our members in-house
2015: We celebrate our 10th anniversary with a surplus of £3.6 billion and a strong funding position
2016: We begin bringing the Financial Assistance Scheme in-house. The BHS pension schemes come into assessment.
2017: The British Steel Pension Scheme comes into assessment
2018: We now have 236,000 members and are awarded the prestigious ServiceMark accreditation for customer service. Household names Carillion, Hoover and Toys ‘R’ Us all entered PPF assessment
2019: We now have 249,000 members. Household name Thomas Cook comes into assessment
2020: £567m levy collected and £860m benefits paid
2021: We manage £36 billion of assets for 276,000 members
2022: We manage £38 billion of assets for 288,000 members