The National Association of Pension Funds (NAPF) and the Pension Protection Fund (PPF) commented on the plans to underwrite up to £40 billion of investment in infrastructure projects announced by the Government today.
Joanne Segars, Chief Executive of the NAPF, said:
“The promise of a Government backstop will help give investors more confidence when it comes to funding big infrastructure projects. This guarantee should also strengthen the growing interest among pension funds in the infrastructure investment platform we are working on with the PPF.
“The UK’s infrastructure needs updating and pension funds are on the lookout for long-term, inflation-linked investments – our platform will help match those demands.”
Alan Rubenstein, Chief Executive of the PPF, said:
“Both we and the NAPF welcome today’s announcement by the Government that they will introduce guarantees for major UK infrastructure projects. This should give investors, including pension funds, the confidence to provide the financial support that such projects need.
“The announcement should also provide further encouragement to pension fund investors to support the Pensions Investment Platform, which both our organisations are working hard to establish.
“We remain on track to launch the platform as planned in January 2013 and today’s announcement provides a welcome boost.”
Notes to editors:
1. The NAPF and PPF are working together, with the support of Government, to create a Pensions Investment Platform which is planned to launch in January 2013 and could involve between 10 and 12 pension funds, investing initially £2 billion ( leveraged up to £4 billion ) in UK infrastructure projects.
2. The NAPF is the leading voice of workplace pensions in the UK. We speak for 1,200 pension schemes with some 15 million members and assets of around £800 billion. NAPF members also include over 400 businesses providing essential services to the pensions sector.
Paul Platt, Head of Media, NAPF, 020 7601 1717 or 07917 506 683, [email protected]
Christian Zarro, Press Officer, NAPF, 020 7601 1718 or 07825 171 446, [email protected]