The Scottish Borders Council Pension Fund has committed £30m to M&G UK's Social Investment Fund.

The commitment makes the fund one of the first investors in the strategy, which aims to unlock more than £1bn of long-term investment over the next three to five years in affordable housing, regeneration, clean energy and essential infrastructure across the UK. The fund, which will total £130m of investment and is managed by M&G’s private markets business, focuses on five core impact areas: local economic growth, improved health outcomes, decarbonisation, access to homes, and access to essential services and infrastructure. It is aligned with government objectives, encouraging Local Government Pension Scheme (LGPS) funds to support long-term UK growth. The investment will support projects including purpose-built accommodation for young care leavers and additional affordable housing, while seeking to deliver long-term returns for members. M&G said the wider group currently has more than £100bn invested in the UK economy. Councillor and chair of the Pension Fund Committee, David Parker, said the investment represented “a major opportunity to channel long-term capital into projects that genuinely improve lives”, adding that the fund was confident M&G’s track record would deliver meaningful local benefits.

Capita has secured a £137m contract renewal for its pension solutions.

The renewed agreement with an existing UK client will run for up to 10 years from the first quarter of 2026 and will extend the long-standing relationship between the parties. Capita said the renewal reflected ongoing investment in technology and innovation to streamline transactions, increase capacity, and improve the customer experience. Commenting on the deal, Capita Pension Solutions managing director, Chris Clements, stated that the business was “delighted to continue to strengthen this relationship”, adding that new technology solutions and tools would help improve customer experience and create better outcomes.

NatWest Group has become the 100th Living Pension employer.

The voluntary scheme, part of the Living Wage Foundation, calls on employers to contribute at least 7 per cent of salary towards a total savings target of 12 per cent, or meet a cash benchmark of £3,150 a year, including a minimum employer contribution of £1,840. This goes beyond the statutory minimum employer contribution of 3 per cent under auto-enrolment. Natwest Group said more than 100,000 workers were now set to benefit from the initiative. Living Wage Foundation director, Katherine Chapman, stressed that reaching 100 accredited employers marked significant progress in addressing pension undersaving, adding that the commitment of participating organisations would help workers look forward to a dignified retirement. NatWest Group head of pensions, Mark Chadwick, stated that the accreditation recognised that the bank’s pension funding supports colleagues in saving for a decent income in retirement and makes it as easy as possible for them to do so.

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