The value of all investments can go down as well as up and could be worth less than what was paid in.

Retirement is changing. So are our defaults.

For many members, retirement has become a longer, more dynamic journey – and we believe workplace pension scheme defaults must be designed with that reality in mind.

That’s why we’re bringing carefully selected private assets into our default solutions. This expands our asset mixes beyond listed markets, helping to support greater diversification and long-term growth potential.

Our aim is simple: to help members build stronger outcomes and give them a better chance of enjoying the retirement they want.

Why private markets for your workplace default

While private markets were once beyond the reach of most pension savers, they’re now a growing part of global investing. This shift represents a clear opportunity not only for members in their pension scheme default – but also employers who are focused on both value and outcomes.

Here is why we’re bringing private markets into our workplace defaults:

  • Go beyond public markets

    Give members access to investment opportunities that weren’t previously available through most workplace pensions.

  • Spread risk even further

    Diversifying across both public and private assets can help to reduce reliance on any single part of the market.

  • Help build better retirements

    Designed to help members build a pension that gives them a better chance of achieving the retirement they want.

For too long, UK pension savers have received lower returns than their counterparts in Australia and Canada, partly because the UK allocates much less capital to private market assets than other developed countries.

- Andy Briggs, Chief Executive, Standard Life


Helping you step into private markets with confidence

Future Growth Capital (FGC) is a private markets investment manager, bringing the specialist expertise that helps to drive our approach.

Standard Life worked with Schroders in 2024 to launch FGC, enabling a dedicated approach to private market investing. FGC brings the insight, knowledge and networks that are needed to source and manage high-quality private market opportunities – also working with asset manager partners including Hamilton Lane and Apollo Global Management.

We combine FGC’s expertise with Standard Life’s workplace scale, DC experience and governance oversight. This helps us bring private markets into our UK workplace defaults in a considered way – and keep a clear focus on supporting better long-term outcomes for members.

 

More of the market, working for your members

With Standard Life, we make it easy for members to invest in parts of the economy that public markets simply can’t access.

These can include infrastructure projects, growth companies, private credit deals, and real assets – all carefully selected to complement traditional assets. It means a broader blend of investments for members, without adding any extra complexity for you or your clients.

Investing in private markets is also a great way to help socially-conscious clients and members support projects that aim to generate both financial returns and positive social outcomes – like these:

AAVantgarde

AAVantgarde is developing next-generation gene therapies designed to help retain and rejuvenate sight for people living with inherited retinal disorders. The company’s research focuses on addressing rare conditions that can lead to severe visual impairment and blindness.

The company:

  • aims to preserve and restore vision for patients with limited treatment options
  • builds on pioneering research from the Telethon Foundation and the University of Naples
  • is supported by leading scientists in the field of genetic medicine


Source: Schroders Capital, Future Growth Capital, 2026.

Nottingham Tramlink

Nottingham Tramlink operates 17.5km of electric tram infrastructure, helping people travel across the city while supporting the shift towards lower-carbon transport. The network forms an important part of Nottingham’s public transport system and contributes to wider electrification ambitions.

The project:

  • supports the transition to lower-emission public transport
  • provides essential infrastructure relied upon by commuters and residents 
  • helps meet growing demand for sustainable urban mobility
     

Source: Future Growth Capital, 2026.

Pocket Living

Pocket Living supports the delivery of more homes for rent at an affordable rate in London. The development comprises 149 one-bedroom homes, providing high-quality housing in a market where demand continues to outpace supply.

The project:

  • offers housing at around 20% below market rates
  • helps key workers and younger people access housing in high demand areas
  • contributes to increasing housing supply where it is needed most
     

Source: Pocket Living, Future Growth Capital, 2026.

There are different risks associated with private assets. Private assets aren't regularly valued.

There could be significant changes in value rather than a gradual increase or decrease. In fluctuating markets, the value may need to be estimated based on the information that’s available at the time.

They can take longer to buy or sell. If this happens, members may not be able to get the money out when they want it, especially if many people want to sell at the same time. We may need to wait before we can transfer or switch investments.

For further information on risks refer to the literature and fund factsheets.
 

Explore our default solutions

Standard Life offers two private markets-enabled default strategies, giving schemes flexibility to choose the scale of private asset exposure that fits their needs.

  • Sustainable Multi Asset (SMA)

    Our core diversified default will gradually introduce an initial allocation of around 3%* to private assets.

  • Future Opportunities

    For those seeking a higher exposure to private markets through a controlled and gradual journey, this default is targeting a 25%* allocation over 10 years.

*Outlines the target private market allocation in the profile’s growth fund.

Further reading

  • The UK private market opportunities DC investors are already accessing

    Explore how DC pension investors are already accessing private market opportunities across healthcare, infrastructure and high-growth UK businesses.
     

  • Bringing clarity to performance fees for private assets in DC

    Private assets are becoming more prominent in workplace pension investment portfolios, and so too are performance fees.
     

  • Private assets in DC pensions – looking beyond the label

    The UK’s largest pension providers are already introducing private assets into DC scheme portfolios. But as adoption grows, so too does the risk of treating them as a single, uniform allocation. We look at why the details matter for member outcomes.