With funding positions improving for many schemes, and expectations around governance, value and long-term planning intensifying, the survey aims to understand how DB governance is changing in practice.
The PMI’s research comes as The Pensions Regulator today published its latest Annual Funding Statement, setting out how it expects trustees and sponsoring employers of DB pension schemes to shift their focus from deficit recovery to long-term endgame planning.
Helen Forrest Hall, Chief Strategy Officer of the PMI, said: “Our members – and the wider industry - have a deep understanding and knowledge about pensions, making the results of this survey extremely valuable to trustees operating in an increasingly demanding environment. In its latest Annual Funding Statement, TPR has once again been crystal clear about its expectations for DB planning. And so, with important decisions to make about investment strategy, governance and long-term objectives, our survey provides an opportunity to shape the PMI’s future education syllabus and support that trustees rely on, while also helping to influence government policy making. I would strongly encourage those involved in DB schemes to complete the survey.”
Ian Biscoe, Head of UK Pensions and Insurance Clients at Schroders, said: “The survey results will play an important role in helping the industry understand evolving trends. This research offers a valuable opportunity to highlight the challenges DB schemes are facing, as well as the approaches that are proving most effective. We encourage everyone involved in DB schemes to take part and share their views, so we can build a clearer picture of how the sector is adapting – and where it should focus next.”
Responses will help benchmark sector trends across funding, investment strategy and endgame planning, while providing insight into the impact of UK policy and regulatory developments on trustee decision making.
The survey will also examine how governance models, advisory support and fee structures are evolving as schemes respond to increasing complexity and scale. In addition, the research will explore trustee appetite for investment in UK productive assets and identify emerging priorities, including sustainability, stewardship and the growing role of technology in supporting governance and oversight.
Findings will be used to inform future PMI guidance, policy engagement and educational activity, ensuring these continue to reflect real world trustee experience and support high standards of DB governance across the industry.
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