With fewer DB pension schemes open to new joiners, many DB schemes are now on the long road to their end. This makes it increasingly important for trustees and employers to think carefully about what they are trying to achieve in the long term.
What does TPR mean by “contingency planning” for DB schemes and what should trustees be doing?
Our recent survey suggested that trustees are engaged with TPR guidance but are still getting to grips with how to implement risk management. We discuss some of the key challenges DB schemes face and how good risk management can help meet them.