In 2023, UK defined benefit (DB) pension schemes will have to navigate significant regulatory changes around funding and investment strategies; proposals to improve liability-driven investment (LDI); and an evolving investment landscape.
The dysfunction in the gilt market following delivery of the Treasury’s growth plan in September 2022, widely known as the ‘mini-Budget’, created a material risk to UK financial stability. The market turmoil impacted DB schemes with leveraged LDI strategies.
