Pension Schemes Panel

The discussion focused on which approach is more sustainable – buy-out or run-on. The rise in bond yields in recent years has caused a seismic shift in the funding levels of closed DB schemes. With many schemes now in surplus, this has accelerated the route to buy-out while also making run-on a viable alternative. As the government seeks to lift restrictions on how pension schemes can invest their surpluses, there is likely to be an increased incentive to consider run-on rather than buy-out. The session explored how this shift has reshaped the DB investment landscape and its implications for sustainable investment strategies.

Joining the debate: Chris Hogg, former trustee CEO at Royal Mail and National Grid; Sofia Perkonigg, board director of UBS pension trustee company; Paul Kitson, UK head of pensions consulting at EY; and Jenny Murray, sustainability analyst within Rothesay’s sustainability risk team.