Pensions in practice: DB surplus release and next-gen DC default design

Pensions in practice: DB surplus release and next-gen DC default design

18 November 2025 | 10:30 - 11:30

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Pensions in practice: DB surplus release and next-gen DC default design

Webinar by Schroders Solutions

Join Schroders Solutions for an interactive one-hour webinar offering practical insights into the current challenges and innovations shaping UK pensions. Drawing on the real-world experience of the Schroders Retirement Benefits Scheme, our experts will explore how trustees and sponsors can navigate DB surplus release and design resilient, forward-looking DC defaults.

Hosted by Rich Fox, Head of Public Policy, UK, the session brings together Schroders specialists for two focused discussions - one on Defined Benefit (DB) run-on strategies, and one on Defined Contribution (DC) innovation and private markets integration.

 

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    Fees

    free for members and non-members
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    2

    speakers
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    1 hour

    of CPD
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    Online

    BrightTALK

Event Details

THE BASICS

Topics of discussion:
  • Putting in place a DB run-on strategy and releasing surplus
  • Designing robust DC default arrangements and incorporating private markets
  • The key questions trustees and sponsors need to address, and the real-world steps to planning and implementation
Who should attend:
  • Pension Scheme Managers
  • Trustees
  • Administrators
  • Policy advisers
  • Consultants
  • Lawyers
  • Corporate IFAs
  • Investment managers
  • Actuaries
  • Communication professionals
The venue
Event Venue Brighttalk 2

Agenda

Chair
Rich Fox
Rich Fox
Schroders
Head of Public Policy, UK
10:30 - 11:00
DB Focus – Run-on Strategy and Surplus Release
Rich Fox
Rich Fox
Schroders
Head of Public Policy, UK
Lawrence Phillips
Lawrence Phillips
Schroders Solutions
Head of End Game Solutions
Ajeet Manjrekar
Ajeet Manjrekar
Schroders Solutions
Global Co-Head of Client Solutions
Peter Strudwick
Peter Strudwick
Schroders
Pensions Manager

This session will explore

  • How schemes can plan for run-on and surplus release
  • Balancing flexibility, security, and member outcomes
  • Lessons learned from Schroders’ own experience
  • Audience Q&A
11:00 - 11:30
DC Focus – Next-Gen Default Design and Private Markets
Rich Fox
Rich Fox
Schroders Solutions
Head of Public Policy, UK
Ryan Taylor
Ryan Taylor
Schroders
Head of UK DC Clients
Vikram Bhandari
Vikram Bhandari
Schroders Capital
Head and CIO of Schroders Capital Solutions
Peter Strudwick
Peter Strudwick
Schroders
Pensions Manager

This session will cover:

  • Designing robust, future-fit DC default strategies
  • Incorporating private markets for long-term value
  • Real-world implementation insights and challenges
  • Audience Q&A

 

Rich Fox
Rich Fox
Schroders
- Head of Public Policy, UK

Rich Fox joined Schroders Asset Management as the Head of UK Public Policy in January 2023.

He leads the group's engagement with UK regulators, policymakers and Governments, as well as supporting engagement in other priority regions.

Prior to that he spent over 15 years at the Financial Conduct Authority in a range of senior roles focused on policy development and international engagement.

Peter Strudwick
Peter Strudwick
Pensions Manager
- Schroders

Pete is the Pensions Manager at Schroders and has over 20 years of experience in the pensions industry. He began his career with Mercer before moving to a pension manager role at Liverpool Victoria and then to Schroders. At Schroders, Pete has a dual role. He supports the Trustee of the Schroders Retirement Benefits Scheme, which is our hybrid UK pension scheme, helping them fulfil their responsibilities. He also acts as the corporate representative to the Trustee and in house expert, helping guide Schroders as it navigates the ever-changing landscape of its UK pension offerings. Pete also lends his expertise to the various pension scheme offered by Schroders in different regions around the world.

Lawrence Phillips
Lawrence Phillips
Schroders Solutions
- Head of End Game Solutions

Lawrence is Head of Endgame Solutions within our Client Solutions team.
He started his career as an actuarial consultant and now specialises in advising on and implementing investment solutions for UK DB pension schemes, with a focus on ‘endgame’ objectives.
Lawrence leads the development of Schroders’ endgame proposition, whether that’s to design investment strategy to ensure safe transfer to an insurance company (buy-out), or to continue to run a pension scheme on, either in a ‘Low Dependency’ manner or to explicitly generate and distribute surplus.
Lawrence has over 18 years of experience in the pensions industry, covering traditional actuarial consulting, investment analytics and investment advisory services including Fiduciary Management.
He is a part qualified actuary and holds a BSc in Neuroscience and Physiology from the University of Bristol.

Ajeet Manjrekar
Ajeet Manjrekar
Schroders Solutions
- Global Co-Head of Client Solutions

Ajeet is the Global Co-Head of Client Solutions at Schroders. He focusses on working with institutional clients to understand their specific investment and governance needs in order to design innovative solutions to achieve their investment objectives. As a qualified actuary with extensive experience in both investment consulting and asset management, Ajeet is part of the senior management team with responsibility for the quality and evolution of our client-driven services. Ajeet has also worked in Deutsche Bank’s asset management businesses. Prior to that, he was a lead investment consultant advising several of our largest defined benefit and defined contribution clients

Ryan Taylor
Ryan Taylor
Schroders
- Head of UK DC Clients

Ryan has worked in the DC Pension marketplace for over 30 years and has gained experience in all aspects of the industry.
He joined Schroders in 2015 as a UK Institutional Client Director and is focused on building and developing relationships with Trustees and Pension Managers of DC and DB pension schemes. This involves understanding each client’s requirements and offering a service designed to anticipate and meet these needs through the delivery of Schroders’ investment capabilities.

He previously spent time as an Investment Consultant, which included managing the DC Investment Team at Aon Employee Benefits. His main responsibilities included the development and delivery of all investment-based services to UK DC clients, including: thought leadership and developing the DC Investment Centre of Excellence.

Prior to this Ryan worked for a number of pension providers where his roles included Investment Proposition Manager and was part of the Fund Strategy and Selection Group at Friends Provident, where he was responsible for the positioning of the investment proposition both externally and internally, whilst supporting the development of investment knowledge for all external facing employees. He also worked at Aviva (8 years) where he held a number of roles including Senior Sales Consultant and Pensions Development Manager.

Ryan obtained a BEng (Hons) and MSc (Eng) from Leeds University and has also passed the IMC.

Vikram Bhandari
Vikram Bhandari
Schroders Capital
- Head and CIO of Schroders Capital Solutions

Vikram Bhandari is Head and Chief Investment Officer of Schroders Capital Solutions (“SCS”) and Chair of the SCS Investment Committee. He leads the design, implementation, and management of multi-private asset investment solutions that integrate in-house, direct/indirect investing expertise with external manager capabilities. SCS delivers outcome-oriented portfolios across the full spectrum of private market strategies, including private equity, infrastructure, private debt and credit alternatives, real estate, and opportunistic diversifiers. Prior to joining Schroders Capital, Vikram was the most senior Portfolio Manager for BlackRock EMEA Alternative Portfolio Solutions, where he led the development and oversight of multi-alternative private markets portfolios tailored to income, growth, and thematic outcomes for DB, DC, insurance, and OCIO clients. Earlier in his career, Vikram was a direct investor across multiple asset classes, including public and private markets, beginning as a credit specialist at Bain Capital Credit. He graduated summa cum laude with dual Bachelor of Science degrees in Economics from the Wharton School and in Civil Engineering and Systems Science from the University of Pennsylvania.

Thank you to Schroders Solutions for your support

Schroders Solutions
Schroders Solutions
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Schroders Solutions is a £213 billion global capability with employees in the UK, US, Singapore, and Germany. Our dedicated solutions experts provide investment and advisory services to public and corporate pension schemes, official institutions, insurance companies, individual investors, intermediaries, and wealth providers worldwide.
Solving investment problems is integral to what we do. We draw on our knowledge and experience as a global provider to build bespoke investment strategies. We partner with our clients to understand their challenges and construct portfolios that deliver the financial outcomes they seek. Our consultative approach draws on both Schroders’ investment skills and those of the broader investment industry.

Schroders Solutions offers Fiduciary Management, Outsourced CIO, liability-, duration- and cashflow-driven investing, as well as derivatives-based growth strategies. Our solutions are accessible to clients of all sizes through a flexible approach to implementation, sensitive to their needs and objectives.

Source: Schroders as of 31 March 2025.