How do we get out of this Pensions Black Hole?

image of black hole pink on black background

Read our latest whitepaper on the state of DB pension schemes

The time has come to take a fresh look at the UK’s remaining defined benefit (DB) pension schemes.

At JLT we are experienced in helping our clients with their pension schemes and have a good view of the needs and challenges for both employers and trustees.

We have conducted research into the increasing challenges of managing defined benefit pension scheme deficits/ assets.

Our findings are the basis for our latest white paper titled, ‘How do we get out of this Pensions Black Hole?’ in which we attempt to find a lasting settlement on ballooning DB pension deficits.

With deficits having risen to the equivalent of £83,000 for every member of remaining DB schemes, we found that

  • Consolidation of defined benefit (DB) pension schemes could cut costs by £500M a year
  • Combining consolidation with benefit simplification will reduce costs even further
  • Savings could exceed £10 billion over DB schemes’ lifetime

‘Doing nothing’ is simply not an option anymore.