Endgame Strategy and Priorities Report 2024
In Partnership With
- Brightwell
We are proud to have won the Bronze Award for ‘Best Purpose-Driven Content’ at the Corporate Content Awards 2024 for our EDI report in partnership with Cardano. Download the report below.
Launched in June 2019, Insights forms an integral part of our mission to empower every pension fund to make better decisions
The new DB funding code is expected to come into force in April 2024 – with hundreds of scheme valuations due within the following 12 months. In parallel, the Pensions Regulator (TPR) has launched its new single code of practice, which introduces additional ESG implementation and scheme governance requirements. Regulatory pressures are growing for DC schemes as well, following changes in value for money assessments and illiquid assets investments. Against this backdrop, mallowstreet surveyed over 160 trustees and pensions professionals in Q4 2022. This abridged report presents our findings on the latest industry challenges.
Last year, the Pensions Regulator called for the industry to improve diversity, equality and inclusion (DEI), but there is still limited best practice guidance for trustees to get started. However, recently the regulator released an action plan aimed at increasing DEI in the UK pensions industry, as well as a plan to publish guidance specifically for trustees. While this will make DEI implementation more seamless for schemes, many challenges remain. To better understand how DEI considerations feature in trustees’ policy setting and the obstacles they encounter, mallowstreet, in partnership with Cardano, surveyed 106 UK pension professionals in August and September. This report presents our findings.
At the end of 2021, buy-in and buy-out volumes exceeded £28bn in the UK - which marked another busy year for the pension risk transfer market. Although buy-out preparedness had improved as of last year, mallowstreet's Pension Risk Transfer Report 2021 uncovered that the insurance market was still out of reach for many schemes. The government has since laid out plans to reform Solvency II requirements - yet it is still too early to tell how these changes will affect the risk transfer market. To understand how endgame readiness and challenges are evolving, mallowstreet, in partnership with Rothesay, surveyed 69 UK defined benefit schemes in February. This report presents out findings.
DC schemes are rapidly gathering assets, but many of them still mostly have young members. Against this backdrop, mallowstreet, in partnership with Milliman, conducted a survey of 22 DC schemes and master trusts in Q1 2022, representing a total of £65bn in assets. The goal was to gauge industry support for the development of drawdown solutions offering a sustainable level of income, and what an optimal offering could potentially look like. This flash report presents our findings.
Insights is our Research solution for the industry. It allows trustees to stay one step ahead, extensively equipping them to fulfil their jobs and responsibilities. Our reports and findings are the best way to keep up to date on what their peers are thinking and doing – and crucially, where the industry is headed.
Insights also provides pivotal input to asset managers. Our research proactively challenges and improves their understanding of the pension industry, so that they can develop and deliver the solutions that are needed to help create a better retirement for everyone.
mallowstreet Insights embodies independence, integrity and research rigor.