The majority (58 per cent) of defined benefit (DB) pension scheme members would support their scheme running on to generate a surplus, but opinions remain divided on how any excess funding should be used, according to research from Hymans Robertson.

The firm’s latest Excellence in Endgames research found that 58 per cent of DB members would be very or somewhat comfortable with their scheme adopting a run-on strategy to generate surplus.

However, 32 per cent said they would be uncomfortable with this approach, while a further 10 per cent were unsure, highlighting continued caution among members.

The survey, conducted among more than 1,000 UK DB pension holders, also revealed mixed views on how surplus should be treated once generated.

Over a third (38 per cent) of members said any surplus should be used solely to enhance member benefits, such as higher pensions or bonuses.

Meanwhile, 27 per cent argued surplus should remain within the scheme until all pensions had been paid, reflecting a preference for greater long-term security.

By contrast, 20 per cent of respondents supported sharing surplus between members and the employer, while 7 per cent said surplus should be used entirely for the employer’s benefit.

The remaining 8 per cent were unsure, which Hymans Robertson said underlined the need for better member understanding of endgame and surplus options.

The research also found differences in attitudes across age groups.

Younger members were more open to run-on strategies and surplus sharing with employers, while older members tended to prioritise certainty, favouring benefit enhancements or retaining surplus within the scheme.

Hymans Robertson head of DB scheme actuary services, Laura McLaren, said run-on strategies presented a significant opportunity for members, but stressed the importance of communication and confidence.

She said a successful run-on journey depended on members feeling informed, secure and confident that their interests were being protected, adding that transparent decision-making and clear communication around surplus use were essential to maintaining trust.

Hymans Robertson head of corporate DB, Sachin Patel, warned that early and constructive engagement between trustees and sponsors was "critical" when considering run-on and surplus-sharing strategies.

He added that while enhancing member benefits might not always be a primary driver for sponsors, recognising and responding to member expectations was key to achieving sustainable outcomes.

The consultancy concluded that while there is no one-size-fits-all approach to DB run-on, schemes that prioritise fairness, transparency and thoughtful use of surplus are more likely to secure member support and deliver positive long-term outcomes.

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