Recent regulatory developments are reshaping endgame strategy for UK Defined Benefit (DB) pension schemes. With fewer barriers expected around surplus extraction, buy-out is no longer the only viable option.
This whitepaper explores alternative endgame strategies, including running schemes on to generate additional surplus and buy-in via a sponsor’s captive insurance. Using stochastic Asset-Liability Modelling (ALM), we compare these options through case studies of a £3bn closed DB scheme, analysing their risk, return and cashflow outcomes across a wide range of economic scenarios.
The analysis highlights why endgame decisions are inherently scheme-specific and how ALM can help trustees and sponsors identify the option best aligned with their objectives.
Download the whitepaper to explore the findings in more detail.
Contact
Ashish Doshi
Senior Business Consultant
Selina Wang
Senior Consultant