The UK government has launched a new Supers Unit targeting £99bn of Australian pension investment into UK projects by 2035. Led by the Office for Investment, this initiative follows a memorandum of understanding between UK chancellor Rachel Reeves and Australian treasurer Jim Chalmers. The unit aims to streamline investments from Australian superannuation funds into UK infrastructure, real estate, and private markets.

Australian superannuation funds already hold approximately £41bn in UK investments, with expectations to double this to £323bn by 2035. Nearly 60 cents in every new Australian dollar contributed is invested internationally, with the US, UK and Europe as key destinations. This comes after the government's difficult passage of the Pensions Schemes Act.

The UK has been encouraging domestic pension funds to emulate global investment strategies. The 2025 Mansion House Accord saw 17 major UK pension providers commit to allocating at least 10% of their defined contribution funds to private markets. Investment minister Lord Jason Stockwood will visit Australia, Malaysia and Singapore next week to promote the UK as a stable destination for Asia-Pacific investment.