Survey: 2018 UK Defined Benefit Survey

The 2018 Defined Benefit (DB) Survey from Willis Towers Watson examines how pension scheme decision makers feel about developments within the DB landscape and what their main priorities for their schemes are as a result.

Key findings

• De-risking and journey planning are the foremost priorities for DB pension schemes.
• More than half of respondents reported that pension transfers will fundamentally change the way they manage their DB pension schemes, while almost two-thirds expect transfers to improve their scheme’s funding level in the future.
• Most of the respondents welcome the government’s plans to increase The Pension Regulator’s powers. However, there are doubts over its ability to use them effectively.
• Outsourcing will continue to be a key trend over the next five years with 73 per cent of trustees and 61 per cent of pension managers expecting to outsourcing their administration and secretarial functions.

The survey was conducted between March and May 2018 and received 159 responses from trustees, pension managers and corporate representatives.

In partnership with WTW

WTW is a leading global advisory, broking and solutions company.

Contact us today