Annual Report shows another successful year for the PPF

Today we’ve published our Annual Report and Accounts, which looks back at our achievements and challenges over the last financial year, outlines our financial performance and describes our progress against our strategic objectives.

 
The report shows that we’ve had another successful year. We’ve summarised the highlights of the report below.

Strong financial performance 

With another year of excellent investment performance, we remain in a strong financial position, which is good news for our members, levy payers and the 8.9 million members of Defined Benefit pension schemes. Our reserves have grown to £13.2 billion due to our strong investment performance.

Maintaining excellent customer service

We continued to achieve high levels of member satisfaction for both our PPF and FAS members and levy payers this year. We improved digital tools for our members, and 86 per cent of member transactions were completed online. 

Kate Jones, our Chair, said, “In a year of change where the PPF has moved increasingly into the spotlight, I’m pleased that we’ve continued to deliver for our existing members and levy payers. We’ve engaged productively with stakeholders over the past year and will continue to ensure that the voices of our members, levy payers, and DB members are heard – their interests remain at the forefront of our work.”

Continuing to invest responsibly 

We met our stewardship target to demonstrate excellence in responsible investment, with 90 per cent of the Climate Watchlist companies in our investment portfolio making disclosures on emissions.

Surpassing our volunteering target 

This year, we surpassed our target to spend 500 days volunteering in the community as part of our community impact programme. 

Michelle Ostermann, our Chief Executive Officer, who joined in April 2024, said, “I am very proud to have taken the reins at the PPF – a world-class and highly regarded institution – at such a pivotal time for the UK pensions industry. As we enter an exciting new chapter, I look forward to building on the PPF’s highly successful investment and member services capabilities.” 

Read more in our annual report.