PITstop

We chat to Professional Independent Trustees (PITs) on current issues at the top of their agendas.

PITstop is our one-stop shop for valuable market insights across a wide range of current issues.

We cover policy, regulation, growth in technology, developments in the insurance and consolidation market, as well as the impact of climate risk.

What makes larger DB schemes different: the opportunities and challenges of scale

In this PITstop, Susan McIlvogue, Head of Large DB Scheme Solutions, sits down with independent trustee Alan Baker to explore what sets large defined benefit pension schemes apart.

Drawing on his experience chairing and advising several multi-billion-pound schemes, Alan discusses the opportunities that come with scale, from greater investment freedom and access to leading advisers to more scope for innovation. He also explores the challenges large schemes face, including managing complex stakeholder relationships, navigating press scrutiny, balancing delegation with trustee oversight and supporting tens of thousands of members.

Inclusive meetings

How can you ensure your meetings are as inclusive as possible? In this PITstop conversation, Heather Allingham chats about this to Sally Minchella, Trustee Director at LawDeb.

Sally shares her experience of how inclusive meetings allow everyone to contribute, feel comfortable, and be heard, improving the quality of discussions and decision making of trustee boards. Simple measures, including clear agendas, accessible meeting formats and minimising jargon can all help.

Sally goes on to address common barriers and how creating an inclusive environment is a collective effort. The conversation concludes with actionable tips for trustees to improve inclusivity in their own meetings.

The DB Scheme Buy-In to Buy-Out Journey: Key Insights and Challenges

In this PITstop, Jo Gyte is joined by Anthea Whitton, Professional Trustee at Capital Cranfield, to chat about how DB pension schemes can move from buy-in to buy-out, and eventually wind-up.

With a surge in buy-in transactions leading to a record breaking number of schemes moving to buy-out and many facing delays, the importance of early preparation, data cleansing and strong project management is key.

Anthea shared examples from her own experience of the challenges of managing unexpected surplus refunds before wind-up. The conversation then went on to explore the importance of selecting insurers with reliable administration and ensuring clear, jargon-free communications to members.

Ongoing engagement and communication among trustees, sponsors, and insurers is highly important. Also having a dedicated individual with relevant experience to oversee the process and ensure alignment and momentum throughout. Anthea finishes by sharing some top tips for schemes starting their buyout journeys.

The crucial role of effective programme management to deliver endgame strategies

In this PITstop, Laura McMillan chats with Shaun Kilcoyne from Vidett about the crucial role effective programme management is playing in the delivery of endgame strategies.

Laura and Shaun explore how improved defined benefit (DB) funding levels and increased project complexity mean that strategic planning and oversight coupled with strong governance matter more than ever. They highlight the value of specialist programme management, risk mitigation, and tailored approaches for schemes of all sizes.

Through sharing real-life examples from their own experience, they show how schemes can tackle challenges like overlapping projects, data cleansing, and post-buy-in processes. They end their discussion with practical tips on how to balance cost and resources to help trustees and corporates achieve the best outcomes.

Previous PITstops

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Flipping the spectrum of capital: should we all do more impact investing?

Value for money in small DB schemes

Abstract digital artwork featuring a pattern of curved, layered lines in vibrant neon blue and purple hues, creating a sense of depth and motion against a dark background.

The rise and regulation of professional trusteeship in the UK

Exploring the feasibility of run-on

Sole trustee consolidation

Navigating risk transfer: the importance of the right adviser

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Upcoming PITstops

We love to speak with PITs on the topical pensions issues close to them and their pension schemes. If you’d like to take part in a future PITstop then please get in touch.

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