People’s Pension1, the UK’s largest commercial master trust, has today revealed that over £100 million has now been given back to its members since 2020 through its groundbreaking savings reward2, as part of its long-term commitment to delivering better retirement outcomes.
People’s Pension, currently returning over £3 million every month3 to an increasing number of members through its savings reward, is the only UK workplace pension scheme to offer a single pot to its members, regardless of how many times they are enrolled by different employers with a best price guarantee on the annual management charge (AMC)4. The more members invest, the more People’s Pension gives back.
This achievement sets the People’s Pension apart, reinforcing the Scheme’s commitment to delivering long-term value for members. As a not-for-profit organisation, it ensures that members, not shareholders, benefit directly. Over £100 million has already been given back to its seven million members – a powerful example of this purpose-driven approach in action.
“This is an extremely significant moment – a milestone we are very proud of and a great example of what a pension with purpose looks like. The more the People’s Pension grows, the more we will be able to put back into the pots of our members.”
said Patrick Heath-Lay, Chief Executive Officer of People’s Partnership, provider of People’s Pension.
“We’re proud to lead by example and show that a better pension experience is possible. Our seven million members are at the heart of everything we do, and our savings reward is just one way we’re helping them build a more secure financial future.”
Mark Condron, Chair of People’s Pension Board of Trustees, said:
“To give back £100 million to so many of our members in just five years is the embodiment of the People’s Pension’s differences. The savings reward is a perfect example of putting members first and to reach such a milestone, so quickly, is yet another reminder of our rapidly growing scale.”
For the average member, the impact is significant. A typical saver earning £25,000 per year and contributing 8 per cent of their salary could save over £12,000 in charges over a lifetime5. In real terms, this means more money staying in members’ pension pots, where it belongs, and with the savings reward continuing to grow, members can expect even greater value in the years ahead.
ENDS
Notes to Editor:
- People’s Partnership provides People’s Pension, the largest commercial master trust in the UK, serving seven million pension savers across the UK and manages £35bn in assets. As a business without shareholders, it reinvests its profits with the aim to help customers and achieve better financial outcomes for everyone.
- Our savings reward is designed to reduce the cost of investing over time, helping members keep more of their retirement savings. Each month, People’s Pension automatically gives back a portion of its profits to members whose pension pots are over £3,000. The more members save, the more they are rewarded, helping reduce the cost of saving for retirement over time. People’s Pension pays you, not them – The People’s Pension for Members
- July 17th, 2025 – August 16th, 2025
- For a full breakdown of our charging structure, visit: Member management charge | People’s Pension
Here’s what a member’s savings reward could look like over 40 years, assuming they contribute 8% of their salary annually and their investments grow by 5% each year:
- With a £25,000 salary, their savings reward could grow to around £12,177
- With a £35,000 salary, their savings reward could grow to around £17,726