As many defined benefit (DB) pension schemes now have substantial surpluses, attention is turning from how those surpluses were created to how they should be managed.

In this latest episode of The Broadcast, host David Brooks talks to Becky Wood (Head of Endgame Solutions, Vidett) and Steve Hull (Partner, Burges Salmon) to discuss the legal, regulatory, and fiduciary issues surrounding pension scheme surpluses, including who may be entitled to them, the options for using them, and the key considerations for trustees and sponsoring employers before making decisions.

The discussion covers potential uses of surplus funds, such as enhancing member benefits, making one-off payments, and implementing effective governance processes. It also highlights the practical challenges and differing stakeholder interests involved in what has become one of the most significant and debated topics in pensions.