Hymans Robertson has launched a run-on support service for defined benefit (DB) schemes.

The consultancy’s new service, Horizon, aims to help trustees and sponsors assess whether run-on is a viable strategy as schemes approach their endgame, offering tailored advice, modelling and governance support where appropriate. The modelling explores factors such as timescales, risk appetite and growth objectives, while also assessing how member and sponsor outcomes may change under different strategies and surplus-sharing approaches. Commenting on the launch, Hymans Robertson head of DB scheme actuarial services, Laura McLaren, said the endgame landscape was “changing rapidly” as funding levels improved and scheme objectives evolved. She argued that while run-on strategies could “unlock real-world benefit and improve member outcomes”, trustees and sponsors require detailed analysis to ensure any decision is aligned with long-term objectives. “Purposefully choosing to run-on will be much more effective than ‘drifting’ into it,” she said, adding that the service aimed to provide “clarity, confidence and structure” so schemes could determine whether run-on was appropriate before committing further time and resources.

Aviva has launched a financial wellbeing tool for workplace pension members.

Initially available to members of the Aviva Master Trust through the Aviva app and online pension portal, the free tool assesses individuals’ financial confidence through a series of questions focused on key financial wellbeing themes rather than detailed financial data. Based on responses, members receive a personalised action plan outlining practical steps to improve their financial confidence and overall wellbeing. The tool also tracks progress over time and links everyday financial decisions with longer-term retirement planning. Employers and trustees can also access insights into how their workforce engages with the tool, helping them tailor financial wellbeing support. Aviva workplace pensions director, Simon Ellis, said financial wellbeing support was becoming increasingly important as defined contribution savers faced greater responsibility for their retirement decisions. “Our new tool is designed to support and empower our workplace pension members in managing their financial health by gauging confidence and offering personalisation, accessibility and continuous improvements,” he said, adding that the initiative reflected Aviva’s commitment to helping savers, employers and trustees achieve better retirement outcomes. The provider confirmed the tool would be rolled out to additional Aviva pension customers over time.

XPS Xchange has completed its largest private credit secondary purchase to date.

The purchase, made through its XPS Xchange service, brought together three DB pension schemes to jointly acquire a private credit fund holding worth around £40m at a discount to net asset value (NAV). Completed in February, the transaction also marked the largest number of schemes to participate in a single XPS Xchange trade since the service launched. The deal enabled the schemes to access a diversified, seasoned private credit portfolio while generating millions of pounds of value and benefiting from greater scale and purchasing power through collaboration. The asset was traded via the MeltX secondary market platform, with XPS advising and coordinating the transaction alongside Vidett Trustees and Zedra Governance. XPS Group head of XPS Xchange, James Kidd, said the deal highlighted the benefits of collaboration between schemes. “Bringing three schemes together to realise an outcome that they could not have achieved as individuals highlights the value of our specialist team operating at scale,” he said. Vidett Trustees client director, Jim Robson, added that securing an illiquid private credit fund at a discount delivered an “immediate funding boost and strong long-term contractual returns” for the scheme, while Zedra Governance client director, Louisa Harrold, said the transaction provided transparency over underlying assets and supported alignment with the scheme’s long-term investment priorities.

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