Mobile navigation

2023 Annual Report

We have now published our audited and signed 2023 Annual Report (PDF) [6MB] (opens new window) .

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 283,000
  • +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.

Annual Report Image 23

Share this page

Facebook icon Twitter icon email icon

Print

print icon