A new cross-sector initiative has officially launched aimed at providing impartial, expert insight as defined benefit (DB) pension schemes face crucial endgame decisions at an “unprecedented pace”.

The launch of Endgame Perspectives Group (EPG), announced at Vidett’s 2024 Endgame Solutions Conference, follows the expectation from The Pensions Regulator that most DB schemes will shift their focus from deficit recovery to endgame planning, after its Annual Funding Statement confirming most DB schemes are now in surplus.

It also follows the shift in government policy supporting the safe release of surplus, as part of the Pension Schemes Bill.

The EPG operates as an open forum for any firm involved in the endgame industry and seeks to offer ongoing insights, thought leadership, and practical advice to those navigating the market.

As industry developments unfold, the EPG aspires to become a respected voice that helps shape the future of pension scheme endgame planning.

The EPG is currently developing its first thought leadership articles, reflecting the group’s commitment to adapting alongside industry needs.

The group was formed following broader discussions about how the industry could collaborate to streamline processes and tackle common challenges, issues too complex for any single organisation to address alone.

Over the past six months, the EPG has examined structural issues in the endgame space, including insurance capacity and member outcomes.

Although it said no single “silver bullet” emerged, the group identified a need for unbiased, collaborative leadership in a landscape often driven by commercial interests.

Looking ahead, the EPG intend to publish thought leadership across the full spectrum of endgame options, not just bulk annuities but also run-on strategies and consolidation.

The group brings together a range of industry stakeholders, including insurers, trustees, lawyers, consolidators, consultants and administrators, including: Barnett Waddingham, Canada Life, Clara, CMS, Dalriada, Eversheds Sutherland, First Actuarial, Gallagher, Gowling WLG, Hymans Robertson, Just Group, K3/Isio, LCP, Legal & General, Lumera, Mercer, Pinsent Masons, PwC, Quantum, Redington, Rothesay, Royal London, Trafalgar House, Utmost, Vidett, WTW, and XPS Group.

Vidett trustee director and leader of the initiative, Rebecca Wood, said: “The pensions industry is at a pivotal moment, with many schemes making critical endgame decisions.

“As the bulk annuity market grows increasingly active, there is a strong need for an impartial, collective voice.

“By bringing together expertise from across the sector, the EPG will help ensure that trustees, sponsors, and members have the support they need to make these decisions.”

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