The imminent New Funding Code will soon be looking to regiment endgame planning for DB pension schemes, as it looks to steer all schemes towards a low dependency funding target by the time they are significantly mature.
However, dramatic changes in the market over the last year have led to many DB pension schemes finding themselves further along their journey plan than they may have expected. 'Low dependancy' is not the future for these schemes – it is the present. How should trustees adapt to this new situation?
If you are approaching being fully funded on a gilts + 0.5% pa discount rate, this is the historically common sign that your focus must now shift from managing high levels of funding volatility and making decisions for the long-term, to positioning DB schemes to be ready for insurer buyout in the short-term.
In our new briefing, we set out a ten point plan you can follow to get your DB scheme ready for endgame, assessing your current standing and exploring what is left to do before approaching the buyout market.
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What does the changing market environment mean for investors and DB pension schemes? How should investment portfolios be adjusted?
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DB Navigator interactive framework
Our holistic actuarial, investment and pension administration approach gives you the knowledge, structure and tools to optimise your strategy for tackling the journey towards your DB endgame.
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