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Running off Mature Schemes

This Research Working Party seeks to examine running off mature schemes in greater depth

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
Chair: Costas Yiasoumi
Membership: 8
Established: 2016

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