# FirstGroup Pension Scheme

FirstGroup Pension Scheme is a Pension Fund based in Aberdeen, United Kingdom.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Aberdeen, United Kingdom
- **Region:** Europe
- **Address:** 395 King Street, Aberdeen, United Kingdom
- **Founded:** 1999
- **Assets under management:** 1339.78 (Altss estimate)
- **Website:** www.firstgrouppensions.co.uk
- **LinkedIn:** https://uk.linkedin.com/company/first-group

## Regulatory record

- **Reports private funds:** No

## About

FirstGroup Pension Scheme was established in 1999 as the primary retirement vehicle for the UK transport operator FirstGroup Holdings Limited. It incorporates the former First UK Bus Pension Scheme, which merged into the main plan on May 31, 2024. The scheme remains closed to new entrants since 2012. Assets are deployed across seven documented vehicles. Confirmed holdings include the Property Pooled Investment Fund Portfolio, Stafford Timberland Portfolio, LGIM Low Carbon Transition Global Equity Index Fund and Macquarie Infrastructure Debt (UK Inflation Linked) Fund. Geographic exposure centers on the United Kingdom with additional commitments to global timber and US private equity secondaries. The scheme participates as a limited partner in AE Industrial Partners, ForgePoint Capital, Gallant Capital Partners, and GENUI. Total assets stand at $1.34 billion. No headcount or additional offices are disclosed. Service providers include Mercer Limited as investment manager since 2009, LCP as advisor since 2023, and State Street Custodial Services as custodian since 2011. The plan maintains an explicit target to reach net-zero greenhouse gas emissions by 2050. The scheme is sponsored directly by a listed transport company rather than a private family or endowment, creating a governance link to corporate cash flows and regulatory oversight under UK pension rules.

## Sectors

- Diversified
- Forestry & Timber
- Raw Materials & Natural Resources

## Questions

### Who sponsors the FirstGroup Pension Scheme?

FirstGroup Holdings Limited acts as principal employer and sponsor. The scheme provides benefits to current and former employees of the transport group.

### How is the FirstGroup Pension Scheme structured?

It comprises a group section and a bus section with differing benefit scales. Both sections are managed on a unified basis following the 2024 merger of the bus plan.

### Does the scheme commit to private equity funds?

Yes. It holds limited partner interests in AE Industrial Partners, ForgePoint Capital, Gallant Capital Partners, and GENUI through the First UK Bus Pension Scheme vehicle.

### What is the scheme's approach to climate risk?

The scheme targets net-zero greenhouse gas emissions by 2050. It maintains a position in the LGIM Low Carbon Transition Global Equity Index Fund and lists climate change among its stewardship priorities.

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- [Heavy & General Laborers' Local Unions 472 & 172 of NJ Annuity Plan](https://altss.com/profile/heavy-general-laborers-local-unions-472-172-of-nj-annuity-plan)
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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/firstgroup-pension-scheme

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