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Events
PPI Launch Event
27 MAY 2026
This event is open to Supporters of the PPI and Governors only.
UK Defined Benefit (DB) schemes are currently experiencing historically strong funding positions. Higher gilt yields, changes in longevity assumptions and improved asset performance have led to aggregate surpluses on a range of commonly used measures. At the same time, proposed legislative changes are reopening questions about how these surpluses may be managed and, potentially, extracted.
This new research examines the scale and drivers of DB surpluses, the evolving legislative framework, and the range of considerations facing trustees, sponsors and policymakers. Drawing on stakeholder interviews and modelling analysis, the report explores the trade-offs and risks associated with different approaches to surplus use.
Join us as we discuss key themes including:
• The scale of current DB surpluses and how outcomes may vary across different funding bases.
• The implications of proposed changes to trustee powers and surplus access.
• The potential effects of surplus extraction on member security, covenant strength, and the wider pensions ecosystem.
• How different stakeholder groups perceive the opportunities and risks presented by the current funding environment.
The event, kindly hosted by Standard Life, will include a presentation of the report’s key findings, followed by a panel discussion and audience Q&A.
If you are a Supporter of the PPI or a Governor and you would like to attend please contact Danielle Elliott: danielle@pensionspolicyinstitute.org.uk
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