Investment market update

Oct 14, 2022

There has been a lot of coverage in the media about the impact of Liability Driven Investment (LDI) funds on pension schemes. The railways pensions schemes do not currently use Liability Driven Investment (LDI) funds and are not in the same position as some pension schemes mentioned in the press.

We hold a large number of assets that can be bought and sold quickly, and we do not have any of the leveraged Government bond assets that are being referenced in the press.

The schemes maintain a good level of liquidity to pay members' benefits. Railpen and the Trustee are completely focused on the current challenges

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Each of Railpen Limited (registered in England and Wales No. 2315380) and Railway Pension Investments Limited (RPIL) (Registered in England and Wales No. 1491097) is a wholly owned subsidiary of Railways Pension Trustee Company Limited (Registered in England and Wales No. 2934539). Registered office for each company: 100 Liverpool Street, London EC2M 2AT. RPIL is authorised and regulated by the Financial Conduct Authority for some of its activities. The administration of occupational pension schemes is not a regulated activity. Full details about the extent of RPIL's authorisation and regulation by the Financial Conduct Authority are available from us on request.