The Taskforce is led by Ashok Gupta, co-deputy chair of the Bank of England’s enquiry into pro-cyclical investment by pension funds and insurance companies. He is joined by experts from across the industry and academia.
In October 2016 the Taskforce published its Interim Report. This report shows that, on the whole, DB pension schemes are under severe pressure and without change the likely outcome will be hardship for members or sponsors.
The Interim Report can be found here.
To understand the risk to members’ benefits more fully, the Taskforce commissioned modelling from Gazelle Corporate Finance Limited’s ‘Mousetrap’ Integrated Risk Model to help estimate and better understand the probability and quantum of longer-term DB member benefit losses. A full report of Gazelle’s modelling can be found here.
Ashok Gupta, Chair of the DB Taskforce presents the Taskforce’s findings at PLSA Annual Conference 2016.
The next phase of the Taskforce’s work will be to examine the challenges further, develop proposals and collaborate across the pensions and investment sector with government, regulators, social partners and industry to build consensus and develop solutions and recommendations to support the sustainability of DB.
If you are interested in getting involved with the project then please contact DBTaskforce@plsa.co.uk. Join the conversation on twitter by telling us the one thing you'd change about DB pensions: tweet your answer at #DBTaskforce.
Terms of reference
The Terms of Reference for the Taskforce can be found here.
Ashok Gupta (Chair), Duncan Buchanan, Frank Johnson, Paul Johnson, Jackie Peel, Stephen Soper, Paul Trickett, Kevin Wesbroom, Lesley Williams.