We have made a number of changes to the category list for the 2024 awards in response to feedback we have received.

The DB Master Trust / Consolidator of the Year category has been renamed as the Alternative Endgame Solution Provider of the Year to reflect the growing number of solutions now in the marketplace. This year, the awards incorporate a broader range of Pension Scheme of the Year Awards categories – Pension Scheme of the Year, Best Pension Scheme Communication Strategy and Best Pension Scheme Investment Strategy – dedicated to the achievements of pension schemes themselves.

To download a copy of the entry guidance pack, click here.

The full list of categories for the 2024 awards is:

Advisory Categories:

- Actuarial/Pensions Consultancy of the Year

- DC Consultancy of the Year

- Investment Consultancy of the Year

- Pension Lawyers of the Year

- Pensions Litigation Firm of the Year

This category looks to recognise those who work in pensions litigation and dispute resolution – looking to reward the firms that have conducted both high profile pensions cases in the trustee, corporate and public sector arenas but also those who can resolve such disputes behind ‘closed doors’ at an early stage.

- Risk Reduction Adviser of the Year

- Fiduciary Evaluator of the Year

This category looks to recognise those firms who evaluate, select and monitor fiduciary managers.

- Sponsor Covenant / IRM Adviser of the Year

DC Categories:

- DC Pension Provider of the Year

- DC Investment Manager of the Year

- DC Multi-Asset Fund Manager of the Year

- DC Master Trust of the Year

- DC Innovation of the Year

The DC Innovation of the Year category is a wide-ranging category that rewards the firm that has innovated most in the DC space in the 12 months to 31 December 2023. This could include the launch of new DC offerings, new consulting services, investment innovation, technology solutions and services, communication, guidance and advice offerings etc. Judges will look at the extent to which your firm has developed new services, products and offerings for clients and the extent to which these innovations helped pension schemes, sponsors, trustees and scheme members.

Investment Categories:

The following categories are only commercial third-party providers and not pension schemes. Pension schemes, including LGPS pools, should enter the Pension Scheme of the Year categories below. Should a pension fund have a genuine and substantial third-party investment business, the submission should particularly focus on how that offering has helped its third-party clients.

- Investment Manager of the Year

- Fiduciary Manager of the Year

- Institutional Investment Platform Provider of the Year

- Equity Manager of the Year

- Fixed Income Manager of the Year

- Factor Investing Manager of the Year

- DB Multi-Asset Manager of the Year

- Emerging Markets Manager of the Year

- Real Estate Manager of the Year

- Alternative and Private Markets Investment Manager of the Year 

The wide-ranging Alternative and Private Markets Investment Manager of the Year category will rewards the asset management firm that has excelled most in the alternatives and private markets space over the 12 months to 31 December 2023. Areas this category will cover will include hedge funds, private equity and infrastructure as well as private debt. It will also include more specialist alternatives such as agriculture and timber. Please note, however, the category is not limited to these specific areas and other alternatives will be considered in this category also.

- ESG Manager of the Year

The ESG Manager of the Year category aims to reward excellence among those managers who can best demonstrate how they integrate ESG across their product range as well as those who offer specific ESG focussed funds and strategies such as impact investing. Entrants should focus specifically on how they have improved their ESG processes and performance during the year, The award will focus on achievements made over the 12 months to 31 December 2023.

- Impact Manager of the Year 

The Impact Investment Manager of the Year category aims to reward excellence among those managers who can best demonstrate how they create a positive social or environmental impact with their strategy. Entrants should be able to outline the objectives of their fund as well as how well they have met them during the year. The award will focus on achievements made over the 12 months to 31 December 2023.

- Liability-Driven Investment (LDI) Manager of the Year

- Cashflow-driven Investment (CDI) Manager of the Year

- Risk Reduction Provider of the Year

- DB Investment Innovation of the Year

Other Categories:

- Diversity and Inclusion Excellence Award

This category is open to the providers, advisers and asset managers that provide services to occupational pension schemes and trustees. It aims to reward those firms that best promote diversity and inclusion within their own workforce as well as those who have contributed to industry-wide initiatives in this area. Judges will, in particular, look at initiatives launched and conducted during the year to 31 December 2023.

- Independent Trustee of the Year

- Third-Party Administrator of the Year

- Technology Innovation of the Year

- Pensions Communication Initiative of the Year

- Alternative Endgame Solution Provider of the Year *** RENAMED FOR 2024 ***

This category, formerly known as the DB Master Trust / Consolidator of the Year category, is open to DB master trust and superfund consolidators as well as to firms providing capital-backed journey plans and other alternative endgame solutions, such as run-on offerings. Please check with Professional Pensions if you are unsure as to whether your solution is eligible for this category. Entrants, however, will need to be able to demonstrate they have had new business wins in the year to 31 December 2023

- Educational and Thought Leadership Initiative of the Year

The Educational and Thought Leadership Initiative of the Year category specifically aims to reward the organisation, consultancy or provider which has worked hardest to help trustees and employers understand the complex world of pensions and investments and those that have broken new ground in terms of pensions knowledge and understanding – either developing new ideas to help solve the issues pension schemes and trustees or challenging current orthodoxies over the 12 months to 31 December 2023. Judges will look at the extent to which organisation, consultant and provider initiatives have helped trustees understand complex topics, make better decisions or look at things in a new way. Initiatives may include such things as thought leadership, research, articles, whitepapers, seminars, conferences, videos etc

- Retirement Innovation of the Year

Pension Scheme of the Year Award Categories:

The following three categories are only open to non-commercial pension schemes. Commercial providers such as insurers offering GPPs, master trusts and consolidators should enter the provider awards above. We do, however, welcome employer entries that are supported or put forward by commercial providers, but they must be in the name of client scheme or employer not in the name of the provider themselves. 

- Pension Scheme of the Year

This category is open to both DB and DC schemes of all sizes but is not open to entry by commercial master trusts (which are covered by the 'DC Master Trust of the Year' and 'DB Master Trust / Consolidator of the Year' categories above. 

Judges assessing this categories will be looking at innovations the scheme has made over the 12 months to 31 December 2023; what entrants have done to improve member experience, service and outcomes; improvements and innovations they have made to their investment strategy; and how they have successfully engaged and communicated with their members. It will also assess how funds have improved their governance and administration during the period as well as at-retirement processes as applicable. 

- Best Pension Scheme Investment Strategy *** NEW FOR 2024 ***

This category is open to DB and DC schemes of all sizes and LGPS funds and pools but is not open to entry by commercial group personal pension providers, master trusts or consolidators (which would be covered by the other categories above. GPP providers and commercial master trusts are, however, allowed to put forward an entry on behalf of one of their employer or pension scheme clients.

Judges assessing this category will be looking for evidence of an innovative investment strategy – particularly looking for evidence on how the design of the scheme’s strategy meets the schemes objectives; the implementation of new asset classes and strong investment performance.

- Best Pension Scheme Communication Strategy

This category is open to both DB and DC schemes of all sizes but is not open to entry by commercial group personal pension providers, master trusts or consolidators (which would be covered by the ‘Pensions Communication Initiative of the Year’ categories above. GPP providers and commercial master trusts are, however, allowed to put forward an entry on behalf of one of their employer or pension scheme clients.

Judges assessing this category will be looking for evidence of a successful communications or engagement project or strategy – particularly looking for evidence on the effectiveness of its communication, the way it has used technology to support its strategy and any innovations it has employed.