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Large Welsh landlord becomes latest to exit SHPS

Pobl, which is Wales’ largest housing association, has become the latest landlord to leave the Social Housing Pension Scheme (SHPS).

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The Nevern Estuary in Newport
The Nevern Estuary in Newport (picture: Wikimedia Commons)
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Pobl, which is Wales’ largest housing association, has become the latest landlord to leave the Social Housing Pension Scheme #UKhousing

The 18,000-home group transferred its members from SHPS into its own scheme last week. 

Andy Hassall, head of treasury and investor relations at Pobl, said: “Following the bulk transfer, we can now manage our own scheme with a funding and investment approach tailored to Pobl and our scheme members.”

The Newport-based landlord’s own scheme has been set up within TPT Retirement Solutions, which operates SHPS.


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A TPT spokesperson said: “The decision to transfer was communicated to all the members of the scheme, and the SHPS committee worked constructively alongside Pobl to ensure that the trustee’s regulatory duties were satisfied.”

A number of high-profile landlords have exited SHPS in the past few years as they have sought more control over their pension arrangements. 

Notting Hill Genesis (NHG) last month became the latest G15 landlord to leave the scheme. NHG said the decision was based on its desire to have “greater control over the running of our pension provision”.

It followed One Housing’s exit last year after its merger with Riverside.

A year ago, Inside Housing reported that Kent-based Moat had left the scheme. G15 landlord Guinness left SHPS in 2021.

More transfers are expected this year. Sam Mullock, a partner at First Actuarial, which advised Pobl on its transfer, said: “We’ve already seen the first bulk transfer of 2024 and we’re expecting a handful more by the end of the year.”

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