Skip to main content

In our annual member newsletter, CEO Oliver Morley looks back on the last financial year. 

Our investment team delivered excellent performance this year, which means we remain in a strong financial position to protect our members. 

Despite challenges for some pension schemes with liability driven investment (LDI) strategies in the autumn of 2022, our strategy continued to work exactly as intended. We were able to protect our reserves, which are there to fund claims from pension schemes that may need us in future. 

2022/23 at a glance  

  • £32.5bn assets
  • £1.2bn paid to members  

Our award-winning Member Services team maintained excellent levels of customer service, with 98 per cent of members telling us they are satisfied or very satisfied with our service. Our investment team was recognised as joint winner of the Best UK Pension Fund at the IPE Awards, where our commitment to responsible investment was highlighted. Through protecting our portfolio from future risks, we are in a better position to protect our members’ futures.  

Our Chief Investment Officer was also recognised for Efforts in Environmental, Social and Governance (ESG) investing at the CIO’s Industry Innovation Awards. We aim to lead by example in this area, as we set out in our sustainability strategy.

The rising cost of living has made it an exceptionally difficult year for many people. We have kept this at the forefront of our Board discussions and decisions, and we take our responsibilities extremely seriously. 

We’re constantly working to improve the service we provide. We recently joined the government’s Tell Us Once service that lets people report a death to most government organisations in one go. Our member website is another key area of focus for us, and members tell us it is very easy to use. You can now download forms and upload important documents on the website, instead of sending them in the post. If you have not already registered, this video will guide you through the registration process.

Oliver Morley is our CEO