SPP Event: Strategies for navigating DB/DC underpins in risk transfer and consolidation

Online

Tuesday 13 May 2025
09:00-10:15am

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Whether you’re moving towards DB buyout or DC consolidation, hybrid benefits with DB/DC underpins can often create challenges.

This session will cover:

  • Different types of hybrid benefits
  • How schemes can navigate DB/DC underpins in a risk transfer scenario
  • The role of the scheme actuary and legal adviser
  • Whether products exist to help overcome some of the hurdles

Speakers

Dyfan Jones, Associate Partner, Aon

Dyfan is a qualified actuary and Associate Partner with 15 years’ experience in the pensions industry. He advises both Trustees and Corporates and currently has a dual role across two of Aon’s specialist teams – the Member Options and Support Team (MOST) and Risk Settlement Group (RSG) – which comes with a strong focus on delivering on client’s long-term objectives as well as improving member experience and outcomes. On the settlement side, Dyfan focuses his time working on Aon’s Pathway team which specialises in delivering pension risk transfer projects for transactions under c£150 million.

Dyfan has a track record of using innovation to manage risk and improve outcomes for both clients and their members. Over the last two years, he has combined his two areas of expertise to deliver solutions for DC schemes with DB underpins – advising across 4 live projects at present.

Brenda Kite, DC Platform Solutions Lead, Hymans Robertson

Brenda Kite has been at Hymans for 10 years and, as part of the DC consulting practice, leads the AVC review and AVC/DC buy-out team as well as research of With Profits funds for AVCs and DC. At the moment, she is actively involved in several AVC and DC buy-outs involving guarantees from With Profits and GMP underpins.

Prior to joining Hymans, Brenda worked for a provider, fund manager and another firm of consultants. In that time, she managed two investment platforms, where she led a number of major DC asset transitions. Brenda was also closely involved with one of the first major DC schemes to contract-out using GMP underpins and introduced one of the first lifestyle strategies in the UK.

Akash Rooprai, Trustee Director, IGG (Chair)

With over 30 years’ pensions experience, Akash is a qualified actuary and leads as trustee director on a range of pension schemes with a variety of sizes and circumstances.

Akash is a Trustee Director at IGG, accredited with the Association of Professional Pension Trustees (APPT) and working on a set of pension schemes of a range of sizes and circumstances. He was Sole Trusteeship lead for over two years and Risk Transfer lead for over four years. He has carried out many buy-ins/outs and GMP Equalisation projects as a trustee and is working through several wind-ups. One of the recent buy-ins was for a Scheme which was DC with a GMP underpin.

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