In this 30-minute podcast, I’m joined by Jon Hatchett, Partner in Hymans Robertson’s DB business and Marcus Hurd, Partner and Managing Director of ndapt, the network of Professional Trustees.
We discuss the future of services for Defined Benefit (DB) schemes - taking a long-term look at where the DB industry feels ripe for change.
We look through the lens of the service that DB trustees, sponsors and scheme members need and will come to expect in the years ahead. We’ll also take the opportunity to look at the implications of that for firms providing services to the industry.
Jon says there are three big trends to consider: one is around the rise of technology and the opportunities and expectations it creates. The second is the rise of professional trustees and how that’s changing the dynamic on boards and with sole trustees in particular. And the third theme is the ride of end game and the flow of liabilities from corporate balance sheets to insurer balance sheets and over the net 10 years to other balance sheets.
Marcus discusses the speed of execution and the need to get round the increasing amount of governance involved. He calls for the industry to focus on getting the basics done efficiently so that more time can be spend on the ‘big picture’ stuff so that trustees can take advantage of market opportunities and move more quickly.