PMI & Schroders annual UK pension scheme survey 2026

The PMI and Schroders UK Pension Scheme Survey 2026 explores how trustees, sponsors and advisers are responding to the next phase of DB investment governance.

The research found that 75% of respondents reported improved funding on a buy-out basis, while 68% saw their technical provisions funding improve. Yet schemes are taking different paths towards their endgame. 45% are targeting buy-in or buy-out within the next ten years, while 33% expect to run on indefinitely.

The findings highlight the growing importance of aligning investment and governance strategies with each scheme's chosen endgame. Liquidity, trustee capability, cyber resilience and adviser oversight are all becoming increasingly important considerations.