XPS responds to Government consultation on options for defined benefit schemes

XPS responds to Government consultation on options for defined benefit schemes

29 May 2025

Tom Froggett, Senior Consultant, XPS Group, said: “We welcome the principle of giving
well-funded DB schemes more flexibility to build and use surplus where it is safe to do so, and are pleased to see the Government’s intention to provide clear legislative principles for surplus release and supporting regulatory guidance around this. The focus now turns to getting the details right. We need a clear blueprint for trustees and employers who are seriously considering running on, so that they can develop with confidence the strategic and operational frameworks to deliver the benefits of running on to members and employers, as well as having robust safeguards to protect member benefits. We are already seeing well-designed run-on strategies introduce a number of the disciplines used by other financial institutions, such as insurers, providing both safety and upside for members.”