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Canon (UK) Ltd The Océ (UK) Limited Pension Scheme
Canon (UK) Ltd The Océ (UK) Limited Pension Scheme, a corporate DB plan chaired by Matthew Searle, manages legacy pension obligations for Canon's UK...
Canon (UK) Ltd The Océ (UK) Limited Pension Scheme
The Canon (UK) Ltd The Océ (UK) Limited Pension Scheme is a corporate defined benefit pension fund serving current and former employees of Canon (UK) Limited and the legacy Océ (UK) Limited printing business, acquired by Canon in 2010. The scheme is structured as a traditional UK occupational pension trust, governed by a board of trustees chaired by Matthew Searle. The board includes independent trustee Allan Whalley, employer-nominated trustee Elizabeth MacDonald, and member-nominated trustees Graeme Wappett and Shiv Samara. The principal sponsor and employer is Canon (UK) Limited, with headquarters in Uxbridge, England. The scheme pursues a diversified investment strategy typical of UK corporate DB plans, allocating across public equities, fixed income, real estate, and alternatives to match its liability profile. While the scheme does not publicly disclose detailed portfolio positions, its investment approach is shaped by UK pension regulation and a long-term funding target. The plan also maintains defined contribution assets for a segment of its membership, reflecting the broader industry shift in the UK toward DC provision for new accruals. No public AUM or deployment figures are available, which is consistent with many UK single-employer schemes that report only through annual statutory filings to The Pensions Regulator. The scheme's size is not disclosed in public marketing or regulatory summaries. The trustee board model, combining professional independent oversight with employer and member representation, is the standard governance architecture for UK occupational pension plans. The Chair of Trustees, Matthew Searle, leads decision-making on investment strategy, funding negotiations with the sponsor, and actuarial valuations. The structural differentiator for this scheme lies in its dual legacy — it combines both the Canon UK and the Océ UK employee bases following Canon's acquisition of Océ. This consolidation dynamic is not uncommon in corporate DB plans post-M&A, but it creates a unique pool of historical liabilities across two distinct corporate cultures, all underpinned by the credit strength of Canon Inc.'s ultimate sponsorship.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
Location
Region
Europe
Country
United Kingdom
City
Uxbridge
Corporate office
Uxbridge, United Kingdom
Principals
Matthew Searle
Chair of the Trustees
Allan Whalley
Independent Trustee
Elizabeth MacDonald
Employer Nominated Trustee
Graeme Wappett
Member Nominated Trustee
Shiv Samara
Member Nominated Trustee
Sector focus
Frequently asked questions
Who runs investment decisions for the Canon (UK) Ltd The Océ (UK) Limited Pension Scheme?
Investment governance sits with the trustee board, chaired by Matthew Searle. The board includes independent trustee Allan Whalley, employer-nominated trustee Elizabeth MacDonald, and member-nominated trustees Graeme Wappett and Shiv Samara. Day-to-day investment management is typically delegated to third-party asset managers and consultants, as is standard for UK corporate DB schemes of this profile.
How is this pension scheme related to Canon Inc.?
The scheme is sponsored by Canon (UK) Limited, the UK operating subsidiary of Canon Inc., the Japanese global imaging and optical products group. Following Canon Inc.'s acquisition of Océ N.V. in 2010, the legacy Océ (UK) Limited pension plan was consolidated into this combined scheme, bringing together retirement obligations from both workforces.
Does the scheme disclose its assets under management?
No public AUM figure is published. Like many single-employer UK defined benefit schemes, it files statutory accounts and valuations with The Pensions Regulator, but it does not maintain a public-facing investor website or publish marketing material.
What is the scheme's investment approach?
The scheme follows a diversified strategy aimed at meeting long-term defined benefit liabilities. This likely spans equities, bonds, real estate, and alternatives — the standard building blocks for a UK mature DB plan. No specific asset allocation or named investment mandates are publicly disclosed.
Does the scheme still have active members accruing benefits?
The presence of defined contribution assets alongside the DB plan suggests the scheme may be closed to new DB accruals, a common pattern among UK corporate pension schemes. Most new contributions are likely directed to the DC section.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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