Pensions Perspectives

Howard Johnson, Senior Director - Retirement Actuarial at WTW, speaks to WTW's valuation and covenant specialists Billy Weir and Helena Mules about how the new funding regime is affecting actuarial valuations.  Many schemes are yet to go through their first actuarial valuation under the new regime so, if you are a trustee or sponsor of a DB pension scheme, please join us to understand the key features of the new regime and lessons learned from early valuations, so you can make your upcoming valuation a success.

At WTW 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, 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.

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. 

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.

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.

In this Pensions Perspectives 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.

Retirement CDC, a new development in the world of pensions, could transform how retirement income is managed. With growing industry focus on Retirement CDC, in this episode, host Sophie Tennison speaks with CDC specialist Simon Eagle and Independent Trustee Sam Burden to unpack how Retirement CDC works, why it may offer higher income than annuities and what it means for member decision making at retirement. They explore the merits, challenges and stakeholder views behind this emerging model and whether it's poised to take off.

What truly shaped markets last year and, what should we be watching next? In this episode we bring our Global Investment Outlook 2026 to life, unpacking the forces shaping markets as we move beyond a year of growth surprises, stubborn inflation, surging AI investment and relentless geopolitical noise. Alongside the release of our annual Global Investment Outlook, this conversation goes beyond the charts to explore what moved the needle in 2025, distilling it all into the key signals we should keep front of mind as 2026 unfolds.

The UK pensions world has changed, but has our definition of gilt risk kept up? In this episode, we dive head first into the questions trustees and sponsors can't afford to ignore and unpack how tail risks in UK gilt markets could derail even the best funded plans. If you've ever wondered whether gilts still make sense as the anchor of UK pension strategy, or whether the government's fiscal trajectory should keep trustees up at night, this is the episode you'll want to hear.

Gen Z checks their finances on their phones dozens of times a week—so why do pensions still feel stuck on desktop? In this Pensions Perspectives episode, Luna Fadayel chats with Barney Holt and Oshin Sharma to unpack mobile first engagement, AI and finfluencers and why starting financial education early matters.

Join Glyn Bradley, Director, Retirement, and Howard Johnson, Consulting Actuary and podcast host, as they share insights and real-time analysis of the UK Budget 2025. In this special episode, they cover new caps on salary sacrifice, direct defined benefit (DB) surplus payments, increases for Pensions Protection Fund (PPF) and Financial Assistance Scheme (FAS) and inheritance tax on unspent pension pots.

Welcome to WTW's Pensions Perspectives Podcast! We are your go-to source for insights and inspiration in the world of pensions. Each episode brings you insights on emerging trends, innovations and strategic thinking with leading industry experts. Tune in every other Wednesday to explore the challenges and opportunities shaping pensions today.