Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Pension funds not a 'panacea' to under-investment in infrastructure, says expert

Pension funds are not the solution to the problem of under-investment in infrastructure, a senior pensions expert told the Association for Consultancy and Engineering centenary conference last week.

Pension Protection Fund chief executive Alan Rubenstein warned against seeing the Pensions Infrastructure Platform (PIP) as a panacea to the funding problem. The PIP aims to bring together pension funds to create greater investment power and has a target size of £2bn.

Rubenstein said that at present the PIP had a group of 10 large pension funds, which were “blazing a trail” and had committed £1bn of their own funds for investment in UK infrastructure.

This £1bn would leverage £2bn of equity, which in turn could give £4bn of “fire power”, he said.

“Personally I want things done yesterday and I would like to be moving faster,” Rubenstein said.

However, he added: “PIP is not a panacea and it was never meant to be.”

Readers' comments (1)

  • William Sherlock

    My pension fund is my retirement. The last thing I would want my pension fund holder to do is to be stupid and put any of my money into UK Infrastructure projects. All of which have no business case left after the politicians, Environmentalists and NIMBYs have blown the costs to hell and back. Resulting in zero chance of getting my money back. Go find another fool, please.

    Unsuitable or offensive? Report this comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Please note comments made online may also be published in the print edition of New Civil Engineer. Links may be included in your comments but HTML is not permitted.