Your pension in 2025: what we’ve done and what’s next
We’ve been working behind the scenes to strengthen the Fund and improve the service we provide.
We’ve developed a mission statement that captures what we’re here to do: to pay the right pensions to the right people at the right time. We are committed to maintaining high standards, placing members at the heart of our work, whilst respecting the interests and contributions of all stakeholders.
Here’s what we’ve been doing to deliver on that in 2025, and what you can expect in 2026.
Making it easier to understand and plan your retirement
We launched a member survey to understand what’s working well for you and what we could improve. Have your say and fill in our survey at www.surveymonkey.com/r/LY85WTM.
We want our members to feel confident about planning retirement. That’s why we’ve added details about our free online tool Guiide to retirement packs. Guiide helps you make informed decisions by showing your MNRPF pension alongside your other finances. We’ve also improved the information we send about Guaranteed Minimum Pension (GMP) and bridging pensions.
Keeping your money safe and growing it
We appointed Schroders Solutions in May 2024 as our investment partner to help us manage the Fund’s investments. They’re working with us to build a long-term plan to grow and protect your pension. The Fund’s assets totalled £721.7 million in the 2024/25 accounts.
We also continue to report on how climate change might affect the Fund’s investments. You can read our latest climate report at mnrpf.co.uk/climate-change-and-your-pension.
Strengthening how we work
We’ve been making sure the Fund runs smoothly and meets all regulatory requirements. We developed a Strategic Business Plan that maps out where we’re heading from 2025 to 2030. We’ve also achieved regulatory compliance with new governance standards. We even tested how we’d respond to a cyber attack to make sure your pension stays protected.
What’s happening in 2026
We’re conducting a thorough review of how pension benefits have been calculated. This is to make sure everyone is getting the correct amount of pension. If you’re already receiving your pension and any adjustments affect you, we’ll contact you in the second half of 2026.
We’ll carry out a financial health check of the Fund. We do an in-depth review every 3 years, known as an actuarial valuation. This helps us understand how much money we have compared to what we need to pay members’ pensions.
We’re continuing to make progress on the ill-health early retirement settlement. So far we’ve paid over £35 million in compensation and increased future pension payments by almost £700,000 in total for affected members.
The government’s pensions dashboard is being rolled out in stages. Once fully operational, you’ll be able to view all your pensions side by side, making retirement planning easier. We’ll keep you updated as this develops.
We may use Facebook to trace members with unclaimed benefits when other methods fail. We’ll never ask you to reply on social media, share personal details, or click links.We’ll continue to keep you informed about developments that matter to you. If you have any questions, contact us using the details on this page
