Research & Insights

Download our 8 reports

• Pension Risk Transfer Report 2024

  The defined benefit (DB) pensions landscape has undergone a significant change since mallowstreet and Rothesay partnered on our first pension risk transfer survey in 2020. At the time, many schemes still had significant funding deficits and faced a number of hurdles to the endgame journey. But since then, funding levels have improved significantly, which put many on pace to transact much faster than they initially anticipated. To further understand how endgame readiness is evolving, mallowstreet, in partnership with Rothesay, surveyed 70 UK defined benefit schemes in March 2024. This report presents our in-depth findings from a comprehensive five-year data review.

  In Partnership With

  • Rothesay

• Natural Capital Report 2024

  The depletion and damage to global natural resources are fast translating to financial risks. As a result, investors are turning their attention to natural capital - it is no longer an abstract environmental concept but a tangible asset class. To better understand how natural capital can fit within asset allocation processes, how it can help investors achieve their ESG objectives, and what challenges they face when investing in natural capital, mallowstreet, in partnership with Gresham House, surveyed 22 UK institutional asset owners in March 2024, gathering perspectives on a total of £360bn in assets under management. This report presents our in-depth findings.

  In Partnership With

  • Gresham House

• Endgame Strategy and Priorities Report 2024

  Despite growing capacity amongst insurers, buy-out is no longer the be-all end-all endgame. Providers are offering more alternatives, including new governance and fiduciary management solutions. To understand their evolving strategy and priorities, mallowstreet, in partnership with Brightwell, surveyed 27 UK DB schemes over £1bn in January 2024, gathering perspectives on a total of £300bn in assets under management. This report presents our in-depth findings.

  In Partnership With

  • Brightwell

• Equality Diversity and Inclusion Report 2023

  Our first annual Equality, Diversity and Inclusion (EDI) Report uncovered that while most schemes were in the early days of their journey, many professional trustee firms were already doing a good job improving EDI – and stood out as industry leaders both in terms of EDI training as well as improving diversity and inclusion within their teams. Since then, the Pensions Regulator (TPR) published its EDI guidance for trustees and sponsors as well as a survey to measure the proportion of trustees with diverse characteristics and the industry’s views on EDI. To better understand how EDI considerations feature in decision-making, the challenges encountered and steps to improving, mallowstreet, in partnership with Cardano, surveyed 120 UK pension professionals in August and September of 2023. This report presents our findings.

  In Partnership With

  • Cardano

• Trustee Report 2022

  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.

  In Partnership With

  • Janus Henderson Investors
  • Pensions Management Institute (PMI)
  • Association of Member Nominated Trustees (AMNT)
  • Association of Professional Pension Trustees (APPT)
  • Pensions and Lifetime Savings Association (PLSA)

• Diversity Equality and Inclusion Report 2022

  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.

  In Partnership With

  • Cardano

• Pension Risk Transfer Report 2022

  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.

  In Partnership With

  • Rothesay

• DC Retirement Solutions Flash Report 2022

  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.

  In Partnership With

  • Milliman

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