DC Pensions & Private Capital: The State of the Market

Across the UK, there is now a clear and welcome recognition that pension schemes and private capital firms should be working more closely together. That view is shared by Government, the pensions industry, and by private capital investors themselves. It reflects a simple but powerful proposition: that better access to private capital funds can help pension savers benefit from diversified long-term returns to improve their retirement prospects, while also supporting the growth of innovative and ambitious businesses that benefit wider society across the country.

This report examines the evolving relationship between UK DC pensions and private capital at a pivotal moment for both sectors. It reviews recent market and policy developments, progress and remaining barriers to private market investment, and draws on the work of UK Private Capital’s DC Pensions & Private Capital Expert Panel to set out practical recommendations for turning shared ambition into sustained investment.