Our purpose is to protect the future of millions of people throughout the UK who belong to defined benefit (DB) pensionschemes. Should a scheme fail, we’re ready to help

We continue to evolve our strategy and actions to monitor, manage and ultimately reduce the carbon emissions connected to our investments and our own operations. In this way, we strive to reduce the risk that climate change presents to our members’ future financial wellbeing – and steer all our investments to support a Net Zero world.

Our work has a real impact on people’s lives, so whatever we do, we strive to do it well, with integrity and with their future in mind.

Our purpose is to deliver the best financial results for our members. We believe this goes hand in hand with responsible investing for two reasons:

How we invest responsibly to serve our members and levy payers

When an employer becomes insolvent and its pension scheme cannot afford to pay its promised pensions, we compensate scheme members for the pensions they have lost. We take over responsibility for payments once we have assessed that a scheme cannot afford to buy benefits from an insurance company which are equal to, or more than, the PPF would pay.

As a UN-supported Principles for Responsible Investment (PRI) signatory and formal supporter of the Financial Stability Board Task Force on Climate-related Financial Disclosures (TCFD), we recognise the value in being clear about our Responsible Investment (RI) strategy and sharing what we are doing.Contents