Railpen

Railpen's recent 'who we are' film is more than a video – it’s our people, our values, and our culture, captured in real moments. What makes it truly special is that this film was created with our colleagues... Every person interviewed is part of Railpen – that’s Andy Bord, Nicola Cromack, Julia Diez, Matthew Howard, Alastair Dawson, and Lewis Vanstone. And our voiceover is delivered by one of our own – Amy Sanderson from our Darlington office. Team members from across the organisation contributed ideas, stories, voices and energy to help bring Railpen’s purpose to life in this video together with the creative team at The Like Minded and the support of our in-house Design team. We’re incredibly grateful to everyone who stepped in front of the camera, supported from behind it, and helped us tell this story authentically. Take a look behind the scenes; and if you haven't already seen it, watch the final film (video link in comments) – and keep an eye out for a few familiar faces. #Railpen #RailpenWhoWeAre #RailpenTeam #BehindTheScenes #AuthenticStories Paul O'Donnell Scott Harrison Verity Cannings Morin Braimoh Becks Goodman

A company’s workforce is one of its most important assets – and how it is managed is increasingly financially material for long-term investors. Today, we’re publishing our Worth of the Workforce Engagement Plan, setting out how Railpen will focus our stewardship activity from 2026-2030 on workforce issues that can create or undermine long-term value. The paper explains why workforce relations and treatment, fair pay and benefits, and modern slavery are critical to company performance and economic stability – and how weaknesses in these areas can create system-wide risk through lower productivity, economic inequality, operational disruption and reputational damage. It also sets out where we’ll focus our engagement, how we’ll work with companies, policymakers and investor coalitions, and the objectives and success measures we’ll track over the next 3-5 years. This is the third in our series of system wide engagement plans under our refreshed systems stewardship approach. Read our Worth of the Workforce Engagement Plan: https://ow.ly/OUH850Yy39s #Railpen #SystemsStewardship #WorkforceManagement #LongTermValue #FairPay #ModernSlavery Caroline Escott Thomas Ward

Technology now underpins almost every part of the economy – creating opportunity, but also new system-wide risks that long-term investors can’t ignore. Today, we’re publishing our Responsible Technology Engagement Plan, setting out how Railpen will focus our stewardship activity from 2026-2030 on artificial intelligence and cybersecurity. The paper explains why these issues are financially material, how gaps in governance and preparedness can create systemic risk, and why stronger oversight is essential as the landscape evolves across sectors. It also sets out where we’ll focus our engagement – prioritising systemically important companies, targeted policy advocacy and clearer expectations on governance and disclosure – alongside the objectives and success measures we’ll track over the next 3-5 years. Read Railpen’s Responsible Technology Engagement Plan: https://ow.ly/LMUK50Yy2pk #Railpen #SystemsStewardship #ResponsibleTech #ArtificialIntelligence #Cybersecurity #SystemicRisk Caroline Escott Sophie Harris Jasmine Porter

This month marks a year since Railpen and Railway Benefit Fund (RBF) began our official charity partnership – a year shaped by shared heritage, shared values and a shared commitment to the rail community. Over the past 12 months, Railpen has come together to support RBF’s vital work, such as the Million Step Team Challenge, free will writing delivered by MyIntent from Bequeathed and supporting the Heart of Gold Awards. Together, we’ve helped raise more than £66,000 to support railway people and their families when they need it most. While we focus on securing our members’ long‑term futures, this partnership reflects our belief that looking after people also means supporting them through life’s challenges today. Jonathan Clark, Director of Corporate & Client Affairs at Railpen said: "RBF’s work provides help at moments when it matters most, and we’re proud to stand alongside an organisation that shares our long‑standing commitment to the rail community.” Jo Kaye, Chief Executive at RBF adds: "Railpen’s support helps ensure that no one in our industry has to face hardship alone.” Thank you to the team at RBF for everything you do and to our colleagues who have got involved with such energy and generosity. We’re proud to continue this partnership into its second year. Take a look through the slides to see a few moments and milestones from our first year working together. #Railpen #RailwayBenefitFund #RailFamily #CharityPartnership #CommunityFirst #PurposeInAction

Global footwear brand Crocs will be opening a new outlet store at Caledonia Park this April, strengthening the scheme’s position as one of Scotland’s leading premium retail destinations. The new store will bring Crocs’ distinctive retail format and broad product offer to the outlet village, enhancing the footwear and family lifestyle mix alongside a strong line-up of international brands, which includes Polo Ralph Lauren®, Tommy Hilfiger, and Calvin Klein. It also follows over 12,000 sq of renewals over the last 12 months, demonstrating Caledonia Park’s continued appeal, and Railpen’s commitment to securing its members’ future through meaningful, long-term investment in high-quality assets. Maria Averkina said “Crocs is another strong addition to Caledonia Park. As a globally recognised brand with broad demographic appeal, it will further enhance our footwear and lifestyle offer. This signing reflects our proactive leasing strategy as we continue to curate a resilient and well-balanced mix of brands and best-in-class outlet operators.” #Railpen #RealEstate #Retail #AssetManagement #Outlets #CommercialProperty #Leasing #Investment #Pensions

Healthy financial markets are fundamental to long-term returns. Today, we’re publishing the first of our system wide stewardship plans – the Sustainable Financial Markets Engagement Plan. It sets out how Railpen will focus our stewardship activity from 2026-2030 to help keep markets efficient, resilient and reliable for long-term savers. The paper explains why shareholder rights, effective boards and high-quality external audit are critical to market integrity – and why pressure on these foundations represents a system-wide financial risk that diversified investors cannot ignore. It also sets out where we’ll focus our efforts, how we’ll use company engagement and public policy advocacy, and the objectives and success measures we’ll track over the next 3-5 years. This is the first in a series of engagement plans linked to our refreshed systems stewardship approach. We’ll be sharing the next papers over the coming weeks. Read the Sustainable Financial Markets Engagement Plan: https://ow.ly/O84550YwWo2 #Railpen #SystemsStewardship #SustainableInvestment #CorporateGovernance #ShareholderRights Caroline Escott Shane McCullagh, CFA

Railpen’s IT Service Desk has achieved finalist status as Service Desk of the Year. These Service Desk Institute (SDI) awards recognise teams that demonstrate strong operational performance, continuous improvement and effective support for their organisations. As Railpen’s internal support function, our IT service desk provides day-to-day assistance to colleagues across the organisation – enabling teams to operate effectively and helping Railpen deliver on our purpose to secure our members’ future. This achievement builds on the team’s previous recognition in the Customer Experience category. Richard Lowe, Head of IT Operations and Service Delivery, said: “Our service desk’s dedication, collaborative spirit and focus on delivering community value makes a meaningful contribution to Railpen and to our purpose. I’m really proud of what they’ve achieved.” Congratulations Gavin Hall and your team of Edward Key, Donna Burton, Ian Walls, Ed Moulding, Jody Welch and Daniel Jones. And well done everyone at this year’s SDI Awards. #Railpen #SDIAwards2026 #CustomerExperience Anna Lister

Today, we’re proud to share our new 'who we are' film – a story that reflects more than 50 years of supporting our members’ future, from our beginnings with the British Railways workforce in 1965 to the organisation we are today. The film brings to life what drives us: our purpose to secure our members' future, our long‑term approach, and the positive impact we seek to create for hundreds of thousands of people. Hear how we put members at the heart of our decisions, reinvest every pound of profit to help provide the pensions our members rely on, and strive to keep things clear, simple and supportive so our members feel informed. Discover how this sees us investing in innovative companies, supporting essential UK infrastructure, supporting the energy transition, and creating high‑quality places that benefit communities and the wider economy. Thank you to every colleague who helped bring this story to life. We’re proud to share who we are, what we stand for, and the difference we work to make every day. Please watch the full film and let us know what you think... #Railpen #RailpenWhoWeAre #MembersFirst #LongTermInvesting #InnovativeInvestments

Railpen has adopted a refreshed approach to systems stewardship to ensure our activity for 2026-2030 remains financially material, focused and effective in a rapidly changing market environment. Our Systems Stewardship 2.0 strategy sharpens how we prioritise what matters most, where we focus our influence, and how we use engagement and public policy advocacy to support long term outcomes for our members. While systems change requires patience and consistency, evolving markets, political developments and a stronger academic evidence base on universal ownership led us to reassess and refine our approach during 2025. In our overview paper, published today, we set out the multi phased review we undertook to do so. It explains our renewed focus on financial materiality, clearer prioritisation of jurisdictions, sectors and engagement targets, and – for the first time – our theory of change; this shows why we believe being vocal, engaging proactively on public policy, and working closely with operational experts are critical to supporting long term member outcomes. For the first time, we’ll also be publishing a series of structured system wide engagement plans across our four priority themes: 1. Sustainable financial markets 2. Responsible technology 3. Worth of the workforce 4. Climate & nature Each plan sets out why the issue matters, our high level objectives, and how we’ll measure success over the next 3-5 years. We’ll be sharing these over the coming weeks. In this video, Caroline Escott explains why we've refreshed our systems stewardship approach and what the overview paper sets out. #Railpen #SystemsStewardship #LongTermOutcomes #UniversalOwnership

Attending company meetings in person is a vital shareholder right – supporting open dialogue, unfiltered perspectives, and long‑term value creation. Last week, we exercised that right at WH Smith PLC’s meeting, raising a question on board accountability and audit amid recent accounting issues. The meeting considered the appointment of an Executive Chairman, combining the CEO and Chair roles. While we take a pragmatic approach where there is a clear rationale, we generally support role separation to safeguard independent oversight, and our question focused on how effective independent challenge will be maintained, at a time when it is especially important. We welcomed the board's commitment to shareholder engagement and oversight, including through its Lead Independent Director, and thank WH Smith Investor Relations team for enabling our attendance and discussion. As a longstanding stewardship priority for Railpen, audit quality and effective board oversight remain central to our Sustainable Financial Markets work. Read Our full question: https://ow.ly/Wus650YuUOV #Railpen #ShareholderRights #CorporateGovernance #SustainableFinance