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Defined Benefit Scheme Investment Review
This paper sets out our approach to an investment review for a typical UK defined benefit pension scheme. The emphasis of our approach is on putting together a review that will be most helpful for the particular scheme trustees and the employer rather than to impose a “one size fits all” approach.
We have adopted a risk-centric philosophy for the setting of investment strategy. In setting the investment strategy for a pension scheme it is essential to consider the scheme as a whole, both assets and liabilities. The baseline for pension scheme investment performance is the liabilities of
the scheme. The key decisions in pension scheme investment relate to setting the asset allocation, where changes can best add value.
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Related DocumentsDefined Benefit Scheme Investment Review (2.15 MB, .pdf)