2026 Outlook for charity DB pension funding

Defined benefit (DB) pension schemes are in a period of significant change. Stronger funding positions, innovation in endgame solutions and evolving legal and regulatory developments are creating new opportunities and challenges for charity schemes.

Our latest analysis of the UK's largest charities shows aggregate funding levels continuing to improve, with many schemes now in surplus or approaching full funding. As a result, charities have an opportunity to review their long-term objectives and consider how best to secure benefits while delivering positive outcomes.

In our 2026 outlook, we explore:

• the latest trends in charity funding, reserves and DB pension scheme funding levels
• the opportunities and challenges facing trustees, from endgame planning and risk transfer to emerging legal and regulatory developments
• why understanding the full range of endgame options is becoming increasingly important

Read our report

If you have any questions or would like to discuss further, please get in touch. 

This communication has been compiled by Hymans Robertson LLP® (HR) as a general information summary and is based on its understanding of events as at the date of publication, which may be subject to change. It is not to be relied upon for investment or financial decisions and is not a substitute for professional advice (including for legal, investment or tax advice) on specific circumstances. HR accepts no liability for errors or omissions or reliance on any statement or opinion. Where we have relied upon data provided by third parties, reasonable care has been taken to assess its accuracy however we provide no guarantee and accept no liability in respect of any errors made by any third party.