Many DB schemes are creating a surplus management problem for themselves Most don't know it yet. As run-on has become a viable option, the industry has responded. Frameworks have been launched. Documents have been produced. Meetings have been held. But look closely at most of them, and you'll find the same thing: A rebadged Journey Plan. The Journey Plan is a powerful tool. But it was built for a different problem - growing a scheme to a strong financial position. Repackagi

Traditionally, UK DC pension schemes have focused on investing in daily-traded assets like listed equities and bonds. This focus limited...

Over the years I have worked closely with pension fund chairs and trustee boards in a wide range of situations - from the best of times...