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.