Railpen's 2025 Stewardship Report
We’ve published our 2025 Stewardship Report – setting out how we’ve made use of our stewardship tools over the past year to protect and enhance long-term financial outcomes for members.
Our latest updates
Discover our latest news, statements and perspectives on our work to secure our members’ future.
01 Jun 2026
Railpen's stewardship report highlights action to strengthen member outcomes and market standards
Railpen’s 2025 Stewardship Report highlights how it is using its scale and influence to strengthe...
20 May 2026
Governance for Growth Investor Campaign Welcomes Nest & Pi Partnership As New Members
– The Governance for Growth Investor Campaign (GGIC), a campaign made up of some of the UK’s larg...
25 Mar 2026
Railpen marks one year of charity partnership with Railway Benefit Fund
Railpen is marking the first anniversary of our official charity partnership with Railway Benefit...
Supporting our members
Railpen exists to secure the future of Britain’s rail workers, and the way we operate the railways pension schemes is central to that purpose. We run the pensions of more than 350,000 members, using decades of rail heritage and a clear operational focus to manage complex processes, support informed decision‑making and deliver services that evolve with members’ needs.
"Every single decision that we take puts the member right at the centre, and every pound of profit that's made is about securing our ability to pay our members' pensions in the future when they retire."
CEO / Railpen
Strength in how we operate
Managing over £34bn in assets, we take a disciplined approach that ensures pensions are paid securely, affordably and sustainably. Our member‑first culture shapes how we design and improve operations – from administering benefits to applying strong governance and working with the rail industry and policymakers to support better outcomes. At Railpen, purpose and operational strength work together to protect the financial futures of the people who keep rail moving – today and for generations to come.
Creating long-term value
Through disciplined portfolio construction, thoughtful stewardship and diversified investments, we focus on delivering predictable, risk‑adjusted outcomes that protect and grow members’ savings over the long term.
Investing for the future
We take a long‑term, multi‑asset approach that delivers more predictable, risk‑adjusted outcomes and expands access to diverse opportunities – helping secure our members’ future.
Delivering resilient outcomes
Our scale, governance and disciplined approach strengthen portfolio resilience and support long‑term results for members across changing market conditions.
Driving positive change
We engage thoughtfully with businesses and policymakers to support long‑term value creation – helping build stronger companies, resilient markets and a world our members will want to retire into.
Where we invest
Our diversified, patient and flexible investment approach spans private markets, public markets and real assets – building resilient portfolios designed to meet members’ needs over the long term.
Thinking that helps shape the industry
Discover Railpen's research, reports and policy thinking – developed independently and with our industry peers to amplify our collective voice on behalf of our members.