Highlights from the report include:
- -1.6% investment return for the year
- -£495 million investment loss for the year
- £27.9 billion closing value as at 31st March 2023
- +8.2% p.a. investment return over the last 10 years
- £729 million total pensions and lump sums paid over the year
- Total membership increased to over 277,000
- +10.1% inflation increase applied to all members shortly after the year end
- £200 million of new investments by our Direct Impact Portfolio (DIP)
- DIP investments now produce enough green energy to fuel over 277,000 homes
Other key developments included:
- A+ rating for responsible investment (PRI)
- Signatory of the UK Stewardship Code 2021 and 2022
- Signatory of the Paris Aligned Investment Initiative (PAII)
- In spite of the small loss on investments and the cost of the inflation increase, SPF's funding level is expected to have improved significantly over the year.
- This will be confirmed in the actuarial valuation as at 31st March 2023 which will be completed over the coming months.