Nearly two-thirds (62%) of trustees said they would be more likely to consider run-on strategies under the new Pension Schemes Act 2026.
The agreement will see Barnett Waddingham continue to deliver specialist insight to PMI members on pensions administration and management.
BW’s board management services team will offer ongoing support to help the trust strengthen its governance, enhance compliance and embed best practice.
Research from Barnett Waddingham found around 62% of workers said they used salary sacrifice, but 63% were unaware it will be capped.
More than 6 in 10 UK workers are unaware their pension savings could be subject to inheritance tax from April 2027.
The survey from Barnett Waddingham (BW) showed nearly 160 DB pension schemes converted their buy-ins to buyouts in 2025, up 30% from the previous year.
Barnett Waddingham’s annual Professional Trustee Survey found 97% said they would recommend appointing a professional trustee.
The partnership gives PIC more capacity to deliver administration services as it moves more schemes to buyout.
The Barnett Waddingham survey found 32% of workers lack confidence in their retirement income, with concerns particularly pronounced among those nearing retirement.
Barnett Waddingham will work with the trustee to focus on the member experience and give quality advice for the long term.
Lucy Creswell’s new role will focus on developing and delivering governance consulting services for pension schemes.
The move brings all pension services under one adviser and aims to improve communication and efficiency.