The nastiest, hardest problem in finance: Decumulation debated (part 1)

The game has changed: Think. Act. Invest.

At WTW Investments [https://www.wtwco.com/en-gb/solutions/investments], we believe we have reached a crucial point for defined benefit (DB) pension schemes and there are various catalysts challenging the traditional way of thinking. These include increasing maturity, evolving regulations and access to surplus. In this episode of the Pensions Perspectives Podcast [https://www.wtwco.com/en-gb/insights/podcast-series/pensions-perspectives-podcast-series], host Harsimar Atwal chats with Dave Aleppo Senior Managing Director, GB Investments, and Tina Kripps, Senior Managing Director, GB Retirement, to explore how we think this requires us all to change how we think, act and invest.

The nastiest, hardest problem in finance: Decumulation debated (part 2)

Decumulation is often described as "the nastiest, hardest problem in finance" and in this second episode of our mini‑series, we turn our attention firmly to the people it matters most to: members. Host Sophie Tennison is joined by Georgia Smith, Senior Proposition Manager at Nest, Stewart Patterson, Head of Innovation at LifeSight, and Paul Davies, behavioural psychologist and founder of Behaviour Consulting, to explore how Guided Retirement could reshape the member experience at retirement. Together, they examine what it really means to introduce a default at retirement, how members might feel about a ready-made default option rather than being forced to choose, as well as how schemes should think about engagement, inertia and choice architecture across diverse memberships. The conversation tackles the opportunities and limitations of personalisation and asks what good outcomes look like from a member's perspective. A thoughtful discussion combining behavioural insight, provider experience and practical innovation - essential listening for anyone shaping the future of DC retirement.

A new Pension Schemes Act is imminent! What do you need to know?

The Pension Schemes Bill is nearing its conclusion and is expected to receive Royal Assent soon, marking a significant milestone in the evolution of UK pensions legislation. Introducing the most wide-ranging set of pension reforms since the pension freedoms of 2015, it will fundamentally change how both defined benefit (DB) and defined contribution (DC) schemes operate, hopefully supporting the British economy along the way. Host Howard Johnson speaks with WTW technical specialist Glyn Bradley to explore what trustees and sponsors need to have on their radar.

The nastiest, hardest problem in finance: Decumulation debated (part 1)

Decumulation, often described as the "nastiest, hardest problem in finance", sits at the heart of how members turn their pension pots into a sustainable income for life. In this episode, and the first in a two part series, host Sophie Tennison speaks with pensions lawyer Wendy Hunter and WTW adviser Andrew Doyle to unpack why decumulation is so complex, what's changing under the Government's new Guided Retirement framework, and how schemes can better support members at retirement. They explore the trade-offs between drawdown, flex and fix solutions and lifelong income options like Retirement CDC, and the legal and governance considerations trustees must navigate. The conversation brings together market developments, regulatory shifts and practical steps trustees can take as the industry moves towards more structured, supportive retirement pathways.

Pension Surplus – Is it a real opportunity?

In this Pensions Perspectives [https://www.wtwco.com/en-gb/insights/podcast-series/pensions-perspectives-podcast-series] episode, Luna Fadayel speaks with Adam Boyes and Bina Mistry, to explore how proposed legislative changes could turn DB surplus into a win-win and what will be relevant when implementing these solutions.