Not from the same place as many did under the old system. UK money could not be easily moved offshore. That had an effect on our businesses and share dealing. Net result pension funds largely investing in areas like company pension schemes. If some one didn't have a pension obtained this way there was always the state one.And as for those shareholder dividends where do you think your private pension gets its growth from to pay you
However at one point some of these schemes found it was better to invest in property as the returns were higher. There is another factor as well. If a company has a high pension fund level of share ownership it gets trickier to directly relate dividends to profit. Other things went on eg relating to companies buying their own shares. Even in some cases getting into full blown share dealing.
Interesting aspect. Some state jobs still have this style of pension running.