TfL Pension

TfL Pension Fund is the pension scheme for Transport for London employees.

Country

United Kingdom

AUM

$21

Performance (%, 1YR)

2.60

Chief Executive

Stephen Field

Chief Investment Officer

Padmesh Shukla

Chair

Maria Antoniou

Asset allocation

1.7% UK equities

19.1% Developed market equities

2.7% Emerging market equities

2.7% Fundamental equities

0.1% Developed equities with EM tilt

12.3% Liability hedging

5.1% Global bonds

6.7% Alternative credit

18.8% Liquid alternatives

0.5% Renewables

10.2% Infrastructure

8% Private equity

4.4% Private credit

1.2% Commodities

4.7% Real estate

1.8% Cash for investing/derivatives for hedging

Website

View the annual report

Global Pension Transparency Benchmark country system description

Asset allocation as of March 31, 2025. All information is as per the most recent annual report or other publicly available data via the fund's website

London’s TfL takes ESG message to masses

The £11 billion TfL Pension Fund has released its first-ever annual sustainability report. The fund for public-sector transport workers hopes the report will help bring more members on board with its well-established ESG strategy and also make clear to its asset managers what it expects of them.

The fund behind London’s tube shifts

Transport for London, the organisation behind the network of buses, underground or “tube” trains, trams and bicycles that keep the United Kingdom’s capital city on the move, has a reputation for its generous employee benefits. But of all the staff perks on offer, including 30 days holiday a year and subsidised travel expenses, membership of […]