William McGrath of C-Suite shares his thoughts with the Pension PlayPen

1. Is it time for a longer term outlook in UK pensions?
The Long and Short of it
A FiduciaryPlus contract introduces a new narrative and
strategy for the UK Defined Benefit Pension Scheme

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Overview
• Problems with
• LDI as a prelude to buy-out – Short term “Get me outta here”
• Corporate Disengagement = Pension in a bubble
• Drivers for change: Inflation, ESG, Mortality, Regulations
• Shoring up the covenant and running the scheme on long-term
• Better outcomes for all stakeholders

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The Long And Short Of It
Pause The rush to derisk and annuitise to be put on hold
pending solvency framework and up to date longevity
data
Sponsors Sponsors re-engage, shore up the covenant, all
stakeholders are better off.
TPR to support bespoke solutions, so major schemes carry on
with confidence. TPR can then focus on the weaker
brethren.
Members DB members don’t take pensions as a “done deal” but
push for the best outcomes, which may not be
annuitisation.
Data Schemes to replace guess work with data, when it comes
to their liabilities.
Question Sponsors and Trustees must ask ask some awkward
questions and not gloss over real answers.

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