With another year of excellent investment performance, we remain in a strong financial position.
We’ve evolved our investment framework, so we now have two portfolios: a matching portfolio and a growth portfolio.
Our growth portfolio performed extremely well, generating a return of 7.2%. As our financial position has improved, we’ve been able to substantially reduce the levy we charge. Our levy estimate of £100m for 2024/25 is our lowest-ever estimate.
Our people carried out 500 days of volunteering, and our stewardship work saw 90% of our Climate Watchlist companies disclose emissions. We continued to work towards our targets to increase employee representation from under-represented groups.
We continued to achieve high levels of member satisfaction for both our members and levy payers. We improved digital tools for our members, and 86% of member transactions were completed online.
Digital services, data and security are core to the PPF’s function. This year we increased use of our data platform and data visualisation services, and reviewed our IT and levy technical services.
Ensuring the highest level of satisfaction for our members and levy payers remains at the forefront of our work.
£ 18.8 bn
Actuarial liabilities
Last year: £20.3bn
£ 32.1 bn
Assets under management
Last year: £32.5bn
£ 13.2 bn
PPF reserves
Last year: £12.1bn
£ 1.2 bn
PPF benefits paid
Last year: £1.2bn
£ 173 m
PPF levy collected
Last year: £386m
7.2 %
Return of growth assets
Last year: 1.9%
