A new cross-sector initiative, the Endgame Perspectives Group (EPG), has officially launched to provide impartial, expert insight as defined benefit (DB) pension schemes face crucial endgame decisions at an unprecedented pace.
Announced at Vidett’s Endgame Solutions Conference in 2024, the EPG brings together a wide range of industry stakeholders including insurers, trustees, lawyers, consolidators, consultants and administrators. In just one year, the group has grown rapidly, reflecting strong industry support for coordinated insight.
Addressing a Defining Moment for DB Schemes
The EPG’s launch comes at a critical time as The Pensions Regulator (TPR) says that it expects most DB schemes to shift their focus from deficit recovery to endgame planning after its latest Annual Funding Statement confirmed most DB schemes are now in surplus[i], alongside a shift in Government policy supporting the safe release of surplus.
The idea for the EPG emerged from wider discussions on how the industry could work together to streamline processes and address shared barriers—efforts no single organisation could solve alone.
Independent, Balanced Insight
Over the past six months, the EPG has examined structural issues in the endgame space, including insurance capacity and member outcomes. While no single “silver bullet” emerged, the group identified a clear need for unbiased, collaborative leadership in a landscape often driven by commercial interests.
Rebecca Wood, leading the initiative on behalf of Vidett, 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.”
Looking ahead, the EPG plans to publish thought leadership across the full spectrum of endgame options—not just bulk annuities but also run-on strategies and consolidation.
Industry-Wide Collaboration
The EPG brings together a wide range of key players from across the pensions sector, including Vidett, Royal London, Gowling WLG, Trafalgar House, XPS, Dalriada, Just, Rothesay, Canada life, Utmost, L&G, Clara, Pinsent Masons, Eversheds, CMS, Redington, Lumera, K3/Isio, Mercer, Gallagher, WTW, PwC, Hymans, LCP, Quantum, First Actuarial and Barnett Waddingham.
This diverse coalition of insurers, trustees, legal experts, and consultants demonstrates the EPG’s collaborative approach to tackling the challenges in pension endgame planning.
Looking Ahead: A Collaborative Future
The EPG operates as an open forum for any firm involved in the endgame industry. Its objective is to offer ongoing insights, thought leadership, and practical advice to those navigating this complex market. As industry developments unfold, the EPG aspires to become a respected voice that helps shape the future of pension scheme endgame planning. The first thought leadership articles from the EPG are in development, and the group is committed to evolving alongside industry needs.
[i] https://www.pensionsage.com/pa/TPR-expects-growing-focus-on-endgame-planning-as-DB-funding-improvements-continue.php
