UK – [11 December 2025] – Cartwright Pension Trusts, the pension specialist for defined benefit and hybrid schemes, today announced that, one year on, the first UK pension fund allocation to Bitcoin had achieved a +56% return.
In October 2024 the unnamed scheme made a £1.5 million investment in Bitcoin, representing 3% of its £50 million portfolio. As of 22 October 2025, that allocation had grown by 56%, marking a significant boost to the scheme’s overall funding position
The pioneering investment, which was the first of its kind for a UK pension scheme, followed an extensive programme of training and due diligence, during which Trustees of the scheme agreed to make a modest strategic Bitcoin allocation in light of their long-term investment horizon.
Sam Roberts, Director of Investment Consulting at Cartwright, commented: “Although it’s important to highlight that this remains a long-term strategy, it feels only right to take a moment to look at the impact one year in. The allocation was made just weeks before the US election result when Bitcoin was trading just above £51,000. Since then, it has reached several new all-time highs. The resulting return has had a tangible impact on the funding level of the scheme, far exceeding the performance delivered by other major asset classes over the same period.”
| Asset | % increase over the year (23-10-2024 to 22-10-2025) |
| 3% bitcoin allocation | +56% |
| Gold price | +44% |
| Global Equities (FTSE AW) | +16% |
| UK 10 Year Gifts | +0% |
Roberts continues: “As with most innovations through history, progress relies on forward thinking and open-mindedness. The Trustee board was willing to listen, learn, and take an informed, risk-based approach. It required just three things: an open-mind, the time commitment to understand the rationale – both risks and rewards, and the tolerance to accept the inherent volatility of the asset.
“It’s still early days, and this remains a long-term investment, but one year on and we now have an objective example of what pension schemes could achieve if they’re willing to think differently. It won’t be the right fit for every scheme, but it deserves to be part of the conversation. The fact that it’s now a legitimate option on the table is, in itself, a solid step forward.”
-ENDS-
