We collect a compulsory levy, much like an insurance premium, from eligible defined benefit pension schemes. We also fund ourselves by accepting the assets of schemes that transfer to us and recovering what we can from their insolvent employers.

Our low-risk yet innovative investment strategy gives us modest returns which mean we can pay current and future members’ pension benefits for as long as they are entitled to them.

As a result we now manage close to £30 billion assets on behalf of over 230,000 members.

How we invest

A key goal of our investment strategy is to enable us to become financially self-sufficient.

Read more about investment

Levy payments

All eligible pension schemes pay the levy to protect their members in the event of a shortfall.

Read more about the levy

Restructuring and insolvency

We recover what we can from the insolvent employers of schemes that transfer to us.

Learn more about insolvency