Emerging Trends In Defined Benefit Pensions Survey 2023

Our survey explores the shifting priorities of defined benefit (DB) pension schemes following the Liability Driven Investment (LDI) crisis, the increase in interest rates and the improved funding of pension schemes.

A shift in focus

The last three year has seen a major shift in the outlook for defined benefit (DB) pension schemes: from a world of low interest rates and often a focus on repairing deficits, to one where interest rates have risen sharply and funding levels are typically much improved. Indeed, many schemes are now left pondering how to use their new-found surpluses. Alongside that, the regulatory pendulum seems to be swinging away from a regime that encouraged de-risking towards one that is trying to encourage more productive investment.