Defined Benefit

Consultancy says DB market has undergone a ‘vast’ and ‘significant’ change in recent years

XPS says Transfer Value Index shows DB transfer values peaked in June to just over £143,000

The government is making it easier for well-funded DB schemes to release surplus, when ‘safe to do so’, and trustees will need to set out their proposed approach to surplus extraction as part of their statement of strategy. As we weigh up this crucial issue of ‘safety’, let’s look to the insurance market to consider how DB schemes might run on and extract surplus for now, while preparing to pivot to buyout if needed.

Barnett Waddingham says firms will miss out on additional value if they access surpluses too soon

Schemes looking for liquidity as well as steady absolute returns and diversification

Hymans research finds 75% of sole trustee appointments in the last year were in schemes with less than 500 members

WTW analysis finds aggregate assets exceeded liabilities by around £30bn

Construction on the project is expected to be completed in 2026

Lifeboat fund says 6% return of its growth portfolio enabled its reserves to grow to £14.1bn