Journey Planning is vital to the success of pension schemes. It is the process that helps you plan and ensure you will get to your end-game target.
It describes an Integrated Risk Management approach (as recommended by the Pensions Regulator) reflecting three key interconnected elements:
- Scheme funding
- Investment strategy
These three elements combine to get you to your agreed end-game target.
We have designed our Journey Planning process across these three elements to help you answer these four key decisions for your scheme:
- What is the end-game target for your scheme?
- What is the right initial level of return and risk?
- How might the target return and risk reduce over time?
- How should you adjust your strategy, if or when, circumstances change