Pension funds comment on CBI infrastructure report
28 May 2012
The National Association of Pension Funds (NAPF) commented on today’s (Mon) CBI report on attracting investment to UK infrastructure. The report highlights the Pension Infrastructure Platform (PIP) being developed by the NAPF and the Pension Protection Fund.
Joanne Segars, Chief Executive of the NAPF, said:
“Britain’s infrastructure is becoming an embarrassment and a bottleneck, and it desperately needs a revamp. Pension fund money could be a key part of any solution.
“Big construction projects would boost the ailing economy, and also offer pension funds the long-term, inflation-linked returns they are hunting for.
“Pension managers are eager to get more involved with bricks and mortar, but often find it difficult to do so. Skills gaps, small fund sizes, investment fees, and fears over construction risk are all obstacles at the moment.
“We think one possible solution is in sight. We are well underway with the development of a new Pension Infrastructure Platform to help bring pension funds large and small to the table.
“It’s good to see clear support from business leaders for the PIP. Many of the CBI’s concerns about skills, scale, and investment viability are well known to pension funds, and the PIP will help address them.”
Notes to editors:
1. 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 and PR, NAPF, 020 7601 1717 or 07917 506 683, [email protected]
Christian Zarro, Press Officer, NAPF, 020 7601 1718 or 07825 171 446, [email protected]