Capabilities & Solutions

Defined Benefit

Having long been the dominant mode of pension provision and that which remains by far the biggest in terms of scheme assets under management, defined benefit (DB) must confront a myriad of challenges if it is to deliver on the pensions promise. Against the backdrop of a challenging economic environment for both scheme sponsors and trustees, trustees must also contend with the effects on both sides of the balance sheet of historically low interest rates, improving longevity, an ever increasing regulatory and legal duties burden, greater complexity around investment choices and, for many, navigating the challenges of being cash flow negative as schemes mature and the time remaining to make good any deficit reduces – all of which requires the continual evolution of governance, technical knowhow and risk management. The latter, in particular, must increasingly integrate ESG risk factors and that most systemic of global risks, climate change, into trustee decision making, as well as risk transfer and end game planning given the increasing maturity of DB schemes.

Working closely with other client teams including that serving insurers, our DB thought leadership and solutions capability is focused on helping trustees better understand and navigate the key risks they face and those other key determinants of successful DB retirement outcomes, breaking down the jargon in the process.

Further reading:

19 February 2021

Chris Wagstaff

Head of Pensions Investment & Education

Pensions watch – Issue 6: What’s been happening and what’s on the horizon in the world of pensions

In this edition we focus on why, how and to what extent to increase contributions to defined contribution schemes if good retirement outcomes in the UK are to become the norm.
Read time - 5 min
30 January 2021

Chris Wagstaff

Head of Pensions Investment & Education

Pensions watch – Issue 5 : What’s been happening and what’s on the Horizon in the world of pensions

This month we focus on why 2021 could be a turning point for UK pensions and the year in which the UK system may well be awarded a prestigious B-grade for the first time since 2015
Read time - 5 min
5 December 2020

Chris Wagstaff

Head of Pensions Investment & Education

Pensions watch – Issue 4: Steering pension savers in the right direction

In this edition, Chris Wagstaff looks at the crucial role of pension dashboards and Pension Wise in guiding pension savers to desired retirement outcomes.
Read time - 5 min

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