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

I’m pleased to report that we had another successful year in 2021/22. We continued to provide outstanding service for our members, with 98 per cent member satisfaction over the year, and our Contact Centre team was named Team of the Year at the Professional Pensions Rising Stars Awards.

2021/22 at a glance 

  • £39bn assets

  • £11.7bn reserves 

  • £1.1bn paid to members   

Our investment team, whose work led to the PPF being named European Pension Fund of the Year, has delivered excellent performance, putting us in an even stronger financial position to continue protecting our members. Our reserves exist to fund claims from pension schemes that may need us in future.

Given the recent events in financial markets, I understand members might be concerned about their retirement income. I can reassure you that we remain in a strong financial position. Our reserves and our investment approach help protect us against movements in markets like we’ve seen in recent days. So there is no need to worry – your PPF compensation remains very secure.

We have also continued the complex work of processing changes to the compensation we pay to the minority of members affected by recent legal judgments.

We’re constantly looking to improve the service we provide for our members, including our online tools. If you haven’t yet registered for our member website, you can read more about what you can do online in this article.

Sustainability sits at the heart of our decision making – we must protect our investments for the long term. We seek to future-proof our portfolio – for example, by protecting it from risks associated with climate change. We encourage responsible investment practices in the fund managers we work with, and we look for opportunities in sustainable asset classes such as forestry. We’ll be sharing more about this in future. 

At the time of writing this article, we were in a period of national mourning for Queen Elizabeth II. The example she has set, in service, the consideration she gave to others, her curiosity, sense of humour, and the way she listened, is something we will all greatly miss. For me personally, as a public servant, it has been an honour to serve her.

Oliver Morley

Chief Executive