Trends in defined benefit asset allocation: the changing shape of UK pension investment
The latest research paper from the NAPF highlights the impacts of defined benefit (DB) pension fund closures in the private sector and the potential repercussions for their investment in UK assets.
Data from the Annual Survey of members between 2008 and 2012 suggests that around £30bn in DB pension assets could move out of UK equities into other assets between now and 2020 whilst demand from pension schemes for index-linked gilts could grow by £70bn over the same period.
The research is part of an on-going programme of work by the NAPF to develop a deeper insight into UK pension fund asset allocation and the implications for the wider investment landscape.