# Intercontinental Hotels UK Pension Plan

Intercontinental Hotels UK Pension Plan is a Pension Fund based in Berkshire, United Kingdom.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Berkshire, United Kingdom
- **Region:** Europe
- **Address:** Berkshire, United Kingdom
- **Assets under management:** Undisclosed
- **Website:** www.ihgplc.com
- **LinkedIn:** https://uk.linkedin.com/company/ihghotels&resorts

## Regulatory record

- **Reports private funds:** No

## About

The Intercontinental Hotels UK Pension Plan functions as the employee retirement arrangement for the UK arm of InterContinental Hotels Group, one of the world's largest hospitality companies. Its principal sponsoring employer is Six Continents Ltd, a wholly owned subsidiary of IHG PLC. The plan's architecture changed permanently in 2013 when the defined-benefit (DB) section ceased future accruals and its obligations were transferred to Rothesay Life via a bulk annuity buy-out, leaving a defined-contribution (DC) structure for ongoing members. Investment strategy for the DC section relies on pooled asset vehicles. The plan holds positions in the Columbus UK Real Estate Fund, which provides exposure to commercial property across the United Kingdom. Beyond direct property, the pooled assets span core pension allocations — typically including global equities, fixed income, and diversified growth funds — managed through institutional fund structures rather than direct deal-by-deal decision-making. The geographic focus remains heavily domestic, with the Columbus fund anchoring UK commercial real estate exposure. Governance sits with a trustee board chaired by Priti Ruparelia, representing Independent Trustee Services. The plan operates without a dedicated internal investment team; instead, it relies on the trustee board's oversight of external fund managers and the historic transfer of longevity and investment risk on the legacy DB side to Rothesay Life. That 2013 buy-out removed the plan's largest balance-sheet liability and reshaped it into a more straightforward DC arrangement with no direct co-investment or direct-deal activity. What distinguishes this plan is its post-buy-out architecture: a formerly hybrid DB/DC scheme transformed into a pure DC vehicle with no residual longevity risk. Unlike many UK pension funds that retain significant DB liabilities and in-house investment teams, the IHG plan outsourced its legacy obligations entirely to an insurer, leaving a lean governance structure focused exclusively on monitoring default fund options for active employees.

## Sectors

- Real Estate
- Private Credit
- Infrastructure

## People

- Priti Ruparelia — Chair of the Trustee

## Questions

### What happened to the defined-benefit section of the plan?

The defined-benefit section was closed to future accrual in 2013, and its liabilities were transferred to Rothesay Life through a bulk annuity buy-out. Rothesay Life now administers those legacy obligations. The remaining active plan operates as a defined-contribution arrangement.

### Who sponsors the pension plan?

The plan is sponsored by InterContinental Hotels Group PLC, with Six Continents Ltd serving as the principal sponsoring employer. Six Continents is a wholly owned subsidiary of IHG.

### Does the plan invest directly or through funds?

The defined-contribution section invests through pooled fund vehicles, including the Columbus UK Real Estate Fund for commercial property exposure. The plan does not engage in direct co-investments or individual deal selection.

### How is the trustee board structured?

The trustee board is chaired by Priti Ruparelia, who represents Independent Trustee Services. The board oversees fund selection and governance for the DC plan but does not maintain an internal investment staff.

### Is there any remaining longevity risk in the plan?

No. The 2013 bulk annuity buy-out with Rothesay Life transferred all legacy defined-benefit longevity and investment risk to the insurer. The current DC plan carries no employer longevity exposure; investment risk rests with individual members.

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- [Intercarolina Financial Services](https://altss.com/profile/intercarolina-financial-services)
- [Intergy Private Wealth](https://altss.com/profile/intergy-private-wealth)

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Last updated: 2026-06-03T20:00:00.000Z

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