National Association of Pension Funds

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National Association of Pension Funds
Abbreviation NAPF
Motto Securing the future of pensions
Formation 1923
Legal status Non-profit company
Purpose Pension funds in the UK
Location
  • Cheapside House, 138 Cheapside, London, EC2V 6AE
Region served
UK
Membership
Over 1,300 pension schemes and 400 businesses
Chief Executive
Joanne Segars OBE
Main organ
NAPF Board (Chairman - Ruston Smith)
Affiliations

PensionsEurope

Pension Quality Mark (PQM) Pensions Infrastructure Platform (PiP)
Website NAPF PQM PiP

The National Association of Pension Funds (NAPF) is the leading body in the UK for providing representation and other services to those involved in designing, operating, advising and investing in all aspects of workplace pensions.

The NAPF represents 1,300 pension fund members that provide pensions for over 17 million people and have more than £900 billion of assets. Members’ pension schemes include defined benefit, defined contribution, group personal pensions and statutory schemes such as those in Local Government.

The organisation’s membership also includes 400 businesses that provide services to pension funds. These include investment managers, law firms, actuarial consultancies and administrators.

Describing itself as the voice of workplace pensions, it aims to help everyone get more out of their retirement savings by spreading best practice among its members, challenge regulation that adds more cost than benefit and promoting policies that add value for savers.[1]

Role[edit]

The NAPF promotes the interests of pension funds by lobbying government and regulators (such as the Pensions Regulator, the Financial Conduct Authority and EU institutions). It undertakes various research projects covering different aspects of pensions including the size and structure of UK defined benefit and defined contribution schemes, trends in longevity and the changing nature of retirement.

Membership of the NAPF is open to any organisation providing any form of retirement provision for employees and to those providing professional advice and services to pension schemes.

It hosts a number of seminars and conferences throughout the year which aim to keep members up-to-date with developments in the pensions industry. The NAPF also provides various training for members through its NAPF Academy and policy-related ‘teach-in’ events.

Governance[edit]

The NAPF is a not for profit organisation run the NAPF Board and governed by a Constitution.

The Chairman of the Board is Ruston Smith of Tesco plc. He is accountable for the running of the Tesco group's pension schemes, including the administration of benefits for over 330,000 members and the £7bn investment of UK assets managed by Tesco Pension Investment, as well as pay, benefits, global mobility, health & wellbeing, employee relations, payroll and IT HR systems.

The Chief Executive of the NAPF is Joanne Segars OBE, who also sits on the Board of the Pension Quality Mark, chairs the Shadow Scheme Advisory Board for the Local Government Pension Scheme and chairs PensionsEurope, the pan-European association of pensions trade organisations.

The Defined Benefit Council and the Defined Contribution Council are the NAPF's main policy-making bodies. Each council is made up of 15 members – both elected and co-opted – and meets around five times a year to debate key issues.

Events [2][edit]

The NAPF Annual Conference and Exhibition is held in October and alternates between the ACC Liverpool and Manchester Central, attracting around 1500 attendees.[3]

Speakers come primarily from the UK and European government, the pensions and investment industries and relevant areas of economics and science. Bob Geldof gave the keynote speech at the Annual Conference and Exhibition in Liverpool in 2014;[4] the Right Honourable Steve Webb MP, current Minister for Pensions, and Gregg McClymont MP, Shadow Minister for Pensions, frequently appear.

The annual calendar of events also includes: • Investment Conference, held at the EICC in Edinburgh in March • Local Authority Conference, held in the Cotswolds in May • Scotland Conference, held in Edinburgh in November • Trustee Conference, held in London in December • A series of ‘Hot Topic Seminars’ throughout the year.

Speakers at these events have included former UK Prime Minister Tony Blair,[5] BlackRock founder Larry Fink, Al Gore and HRH the Prince of Wales.[6]

Subsidiaries[edit]

The Pension Quality Mark (PQM) is a standard awarded to defined contribution pension schemes that meet certain criteria, including governance, communications and contribution levels. Over 200 pension schemes have achieved either PQM or PQM PLUS standard. Over 400,000 employees are actively saving in these arrangements.

The Pensions Infrastructure Platform (PiP) is an infrastructure investment vehicle established by the NAPF, the Pension Protection Fund and a group of large UK pension funds investment to encourage and facilitate UK pension scheme investment into UK infrastructure. In February 2014 PiP launched its first fund, the £600m PPP Equity PIP LP, which is managed by Dalmore Capital Ltd.[7]

References[edit]

  1. ^ [1]
  2. ^ [2], NAPF Events
  3. ^ [3]
  4. ^ [4]
  5. ^ [5], Tony Blair at NAPF: Vested interests biggest block to reform
  6. ^ [6], Prince Charles warns of risk to future pensions
  7. ^ [7], UK pensions infrastructure chief to step up investment pace

External links[edit]

News items[edit]