Running off Mature Schemes

The Working Party seeks to:

• Develop a model for the frozen scheme lifecycle, e.g. by analogy to individual retirement – ie active retired, less active, dependant, closure
• Identify the different issues and needs for each stage
• Summarise the range of actions / activities that are open to such schemes to actively manage their exposures (vs passively running off) with case studies
• Articulate the desirability of having a broad run off strategy for moving through the stages, extending beyond the funding (admin, governance, etc)
• Identify metrics / flags which help identify the current stage and the milestones which indicate transition to later stages and the timing thereof
• Explore similarities and differences between bulk annuity insurer pricing and frozen schemes and alignment to facilitate a subsequent insurance
• Import relevant aspects connected to run off from life insurers, overseas pensions practice etc into the UK pensions environment 

Outputs:

• Presentation at Risk, Investment and Pensions Conference in June 2017
• An article/s in relevant publication
• Report follow-ups