How we invest

We invest to make sure we can pay current and future member's compensation for the rest of their lives.

PPF member siting on a bench by the sea with his dog

Responsible investment

We’re a cornerstone of the UK’s pension landscape, providing a vital safety net for millions of members of defined benefit (DB) pension schemes.

Our experienced and award-winning investment team, manage our investments under the guidance and stewardship of our Board and Investment Committee, protecting individuals whose employers become insolvent and whose pension schemes are unable to meet their promised benefits.

We manage over £30 billion in assets, through a robust investment strategy designed to meet two core objectives: ensuring ongoing payments to members and maintaining long-term resilience through prudent growth in reserves.

How we manage our portfolio

Our portfolio is managed in real-time, by our in-house investment team, enabling a high level of responsiveness.

Our team manage around half of our assets internally and work with external investment experts and professional fund managers for the remainder.

Our external manager selection process follows a philosophy of concentrating into successful strategies and maintaining the lowest number of external managers possible over time. We currently only employ a handful of external managers which we have been invested with for a considerable amount of time.

The process of concentrating into few managers has driven our success. Our portfolio has outperformed the benchmark in every year in the last five years, navigating very different market environments and delivering consistent and repeatable investment outperformance for our members.

We review our long-term investment strategy at least every three years, but will undertake an intra-cycle review if there is a material change to our funding position or if we see a structural change in the economic or market environment.

Find out more about our investment strategy

Investing responsibly

We prioritise investing responsibly and believe responsible practices enhance the long-term value of our investments.

It’s an approach that has not only delivered for our members, but has also been recognised with a number of industry awards.

Find out more about how we invest responsibly

Two decades of award-winning impact

Over the past 20 years, we've earned major industry awards, reflecting our commitment to protecting the futures of millions of members and delivering long-term, sustainable performance.

Our achievements include repeat recognition at the Investment & Pensions Europe (IPE) Awards, the Professional Pensions Awards, the Pension Age and European Pensions Awards, and the British Venture Capital Awards.

These honours span multiple categories and highlight the strength of our investment strategy, our operational excellence, and our role as a trusted safeguard for UK pension scheme members.

Recent awards

Won the Fixed Income category at the IPE Awards 2025
Received highly commended in the Public Pension Fund, Equities and Stewardship categories at the IPE Awards 2025
DB Pension Scheme of the Year at the Pensions Age Awards 2026
Shortlisted for Pension Scheme of the Year and Best Pension Scheme Investment Strategy at the Professional Pensions Awards 2026
Shortlisted for European Pension Fund of the Year and Best Investment Strategy at the European Pensions Awards 2026