Lisa Dees is joined by Louise Lindsay (SAUL), Simon True (Clara Pensions) and Adrian Boulding (Vesta Pensions) to compare the benefits, challenges and trade-offs of open defined benefit (DB) schemes, superfunds and collective defined contribution (CDC) arrangements.

The discussion considers each model from both a member and employer perspective, covering retirement outcomes, risk-sharing, affordability, consolidation and the role these approaches could play in the future pensions landscape.

Hymans Robertson disclaimer This podcast has been prepared by Hymans Robertson LLP, and is based upon our understanding of events as at release date. It is designed to be a general summary of topical investment matters and is not specific to the circumstances of any particular employer or pension scheme. The information contained in this podcast should not be construed as advice and not be considered as a substitute for specific advice as the information is generic in nature. Where a podcast refers to legal matters please note that Hymans Robertson is not qualified to provide legal opinion and therefore you may wish to obtain independent legal advice to consider any relevant law and/or regulation. Hymans Robertson LLP accepts no liability for errors or omissions. Your Hymans Robertson LLP consultant will be pleased to discuss matters raised in this podcast in greater detail. Guests views are separate to that of Hymans Robertson. The information provided in this broadcast is not financial advice. Past performance is not a guide to the future. Please note the value of investments, and income from them, may fall as well as rise. This includes but is not limited to equities, government or corporate bonds, derivatives and property, whether held directly or in a pooled or collective investment vehicle. Further, investments in developing or emerging markets may be more volatile and less marketable than in mature markets. Exchange rates may also affect the value of investments. As a result, an investor may not get back the full amount of the original investment. Past performance is not necessarily a guide to future performance.  Hymans Robertson LLP is authorised and regulated by the Financial Conduct Authority and Licensed by the Institute and Faculty of Actuaries for a range of investment business activities.

This episode includes AI-generated content.

Markets have navigated a volatile first half of 2026. Equity markets have rebounded strongly, interest rate expectations have shifted, and artificial intelligence (AI) continues to reshape investment opportunities across the globe.

In this episode, Ross MacLeod is joined by Chris Arcari and John Roe, Head of Multi-Asset at Legal & General - Asset Management. Together, they explore the major developments shaping investment markets in 2026, from the continued impact of the AI investment cycle and changing interest rate expectations to evolving opportunities and risks across public and private markets.

The discussion looks at how investors are positioning portfolios against a backdrop of elevated equity valuations, tight credit spreads and persistent inflation uncertainty. Chris and John also examine developments in private credit and private equity, highlighting where stresses are beginning to emerge and why manager selection remains critical. The conversation finishes with a look at the long-term investment implications of AI and the outlook for China as its economy continues to evolve.

If you have any questions on anything covered throughout the episode, please get in touch.
 


Hymans Robertson disclaimer
This podcast has been prepared by Hymans Robertson LLP, and is based upon our understanding of events as at release date. It is designed to be a general summary of topical investment matters and is not specific to the circumstances of any particular employer or pension scheme. The information contained in this podcast should not be construed as advice and not be considered as a substitute for specific advice as the information is generic in nature. Where a podcast refers to legal matters please note that Hymans Robertson is not qualified to provide legal opinion and therefore you may wish to obtain independent legal advice to consider any relevant law and/or regulation. Hymans Robertson LLP accepts no liability for errors or omissions. Your Hymans Robertson LLP consultant will be pleased to discuss matters raised in this podcast in greater detail. Guests views are separate to that of Hymans Robertson.

The information provided in this broadcast is not financial advice. Past performance is not a guide to the future. Please note the value of investments, and income from them, may fall as well as rise. This includes but is not limited to equities, government or corporate bonds, derivatives and property, whether held directly or in a pooled or collective investment vehicle. Further, investments in developing or emerging markets may be more volatile and less marketable than in mature markets. Exchange rates may also affect the value of investments. As a result, an investor may not get back the full amount of the original investment. Past performance is not necessarily a guide to future performance. Hymans Robertson LLP is authorised and regulated by the Financial Conduct Authority and Licensed by the Institute and Faculty of Actuaries for a range of investment business activities.

Hymans Robertson disclaimer
This podcast has been prepared by Hymans Robertson LLP, and is based upon our understanding of events as at release date. It is designed to be a general summary of topical investment matters and is not specific to the circumstances of any particular employer or pension scheme. The information contained in this podcast should not be construed as advice and not be considered as a substitute for specific advice as the information is generic in nature. Where a podcast refers to legal matters please note that Hymans Robertson is not qualified to provide legal opinion and therefore you may wish to obtain independent legal advice to consider any relevant law and/or regulation. Hymans Robertson LLP accepts no liability for errors or omissions. Your Hymans Robertson LLP consultant will be pleased to discuss matters raised in this podcast in greater detail. Guests views are separate to that of Hymans Robertson.
The information provided in this broadcast is not financial advice. Past performance is not a guide to the future. Please note the value of investments, and income from them, may fall as well as rise. This includes but is not limited to equities, government or corporate bonds, derivatives and property, whether held directly or in a pooled or collective investment vehicle. Further, investments in developing or emerging markets may be more volatile and less marketable than in mature markets. Exchange rates may also affect the value of investments. As a result, an investor may not get back the full amount of the original investment. Past performance is not necessarily a guide to future performance. 
Hymans Robertson LLP is authorised and regulated by the Financial Conduct Authority and Licensed by the Institute and Faculty of Actuaries for a range of investment business activities.

Private markets investors are increasingly looking beyond traditional direct lending opportunities. One area gaining attention is capital call financing, a niche but growing segment of the fund finance market that offers access to investment-grade private credit risk.

In this episode, Viran Patel from Hymans Robertson is joined by Penny Cochrane and Shelley Morrison from Aberdeen. Together, they explore how capital call financing works, why the market has grown so rapidly and the role it can play within institutional portfolios.

They discuss the evolution of the market, the shift from bank-led lending to greater participation from non-bank investors and the factors driving demand. They also explore the risk and return profile of these facilities, including the importance of manager selection, operational expertise and the quality of underlying investors.

You'll hear how capital call financing differs from other private credit strategies, where it may fit within an investment-grade portfolio and the key considerations for investors assessing the opportunity.

If you have questions on anything covered throughout the episode, please get in touch.


Hymans Robertson disclaimer
This podcast has been prepared by Hymans Robertson LLP, and is based upon our understanding of events as at release date. It is designed to be a general summary of topical investment matters and is not specific to the circumstances of any particular employer or pension scheme. The information contained in this podcast should not be construed as advice and not be considered as a substitute for specific advice as the information is generic in nature. Where a podcast refers to legal matters please note that Hymans Robertson is not qualified to provide legal opinion and therefore you may wish to obtain independent legal advice to consider any relevant law and/or regulation. Hymans Robertson LLP accepts no liability for errors or omissions. Your Hymans Robertson LLP consultant will be pleased to discuss matters raised in this podcast in greater detail. Guests views are separate to that of Hymans Robertson.

The information provided in this broadcast is not financial advice. Past performance is not a guide to the future. Please note the value of investments, and income from them, may fall as well as rise. This includes but is not limited to equities, government or corporate bonds, derivatives and property, whether held directly or in a pooled or collective investment vehicle. Further, investments in developing or emerging markets may be more volatile and less marketable than in mature markets. Exchange rates may also affect the value of investments. As a result, an investor may not get back the full amount of the original investment. Past performance is not necessarily a guide to future performance. Hymans Robertson LLP is authorised and regulated by the Financial Conduct Authority and Licensed by the Institute and Faculty of Actuaries for a range of investment business activities.

Building resilient investment strategies is becoming increasingly important in a world shaped by uncertainty and change. In this special edition of Hymans Robertson On…, Ben Farmer is joined by David Walker and Ben Fox to explore how pension schemes can design portfolios that remain robust across a range of market conditions.

Hymans Robertson disclaimer
This podcast has been prepared by Hymans Robertson LLP, and is based upon our understanding of events as at release date. It is designed to be a general summary of topical investment matters and is not specific to the circumstances of any particular employer or pension scheme. The information contained in this podcast should not be construed as advice and not be considered as a substitute for specific advice as the information is generic in nature. Where a podcast refers to legal matters please note that Hymans Robertson is not qualified to provide legal opinion and therefore you may wish to obtain independent legal advice to consider any relevant law and/or regulation. Hymans Robertson LLP accepts no liability for errors or omissions. Your Hymans Robertson LLP consultant will be pleased to discuss matters raised in this podcast in greater detail. Guests views are separate to that of Hymans Robertson.The information provided in this broadcast is not financial advice. Past performance is not a guide to the future. Please note the value of investments, and income from them, may fall as well as rise. This includes but is not limited to equities, government or corporate bonds, derivatives and property, whether held directly or in a pooled or collective investment vehicle. Further, investments in developing or emerging markets may be more volatile and less marketable than in mature markets. Exchange rates may also affect the value of investments. As a result, an investor may not get back the full amount of the original investment. Past performance is not necessarily a guide to future performance. Hymans Robertson LLP is authorised and regulated by the Financial Conduct Authority and Licensed by the Institute and Faculty of Actuaries for a range of investment business activities.

Pensions policy shapes outcomes across generations. In this episode of Hymans Robertson On…, our panel explore how we can build a system that works for everyone.

They discuss the pressures facing both public and private pensions, from the rising cost of the state pension to the shift from defined benefit (DB) to defined contribution (DC), which has moved risk onto younger savers.

The potential for collective defined contribution (CDC) schemes is also explored. The conversation looks at whether meaningful change is possible, including how automatic enrolment could evolve and how policy might better support financial resilience, while improving retirement adequacy.

They close by challenging whether the current system works for everyone, highlighting gaps for part-time workers and the self-employed, and the need for a more inclusive approach to pension design.



Hymans Robertson disclaimer
This podcast has been prepared by Hymans Robertson LLP, and is based upon our understanding of events as at release date. It is designed to be a general summary of topical investment matters and is not specific to the circumstances of any particular employer or pension scheme. The information contained in this podcast should not be construed as advice and not be considered as a substitute for specific advice as the information is generic in nature. Where a podcast refers to legal matters please note that Hymans Robertson is not qualified to provide legal opinion and therefore you may wish to obtain independent legal advice to consider any relevant law and/or regulation. Hymans Robertson LLP accepts no liability for errors or omissions. Your Hymans Robertson LLP consultant will be pleased to discuss matters raised in this podcast in greater detail. Guests views are separate to that of Hymans Robertson.The information provided in this broadcast is not financial advice. Past performance is not a guide to the future. Please note the value of investments, and income from them, may fall as well as rise. This includes but is not limited to equities, government or corporate bonds, derivatives and property, whether held directly or in a pooled or collective investment vehicle. Further, investments in developing or emerging markets may be more volatile and less marketable than in mature markets. Exchange rates may also affect the value of investments. As a result, an investor may not get back the full amount of the original investment. Past performance is not necessarily a guide to future performance. Hymans Robertson LLP is authorised and regulated by the Financial Conduct Authority and Licensed by the Institute and Faculty of Actuaries for a range of investment business activities.

Artificial intelligence (AI) is moving fast in pensions. In this special edition of Hymans Robertson On…, Dan McMahon is joined by Jo Darbyshire from Local Pensions Partnership Administration (LPPA), Ted Mackereth from Just Group and Scott Finnie from Hymans Robertson to explore what that means in practice.

From AI-powered meeting minutes and query routing to faster software development, the conversation stays grounded in real use cases. It also looks at why member-facing AI is still rare, and what schemes can do to help members access their own data safely.

The panel digs into the big blocker too: data quality. “Garbage in, garbage out” still applies, but AI adds new risks even when your data is right. Trustees may want to treat data quality like cybersecurity on the risk register.  

They close with practical thoughts on governance, people and responsible use, so you can test ideas without losing human judgement and creativity.


Hymans Robertson disclaimer
This podcast has been prepared by Hymans Robertson LLP, and is based upon our understanding of events as at release date. It is designed to be a general summary of topical investment matters and is not specific to the circumstances of any particular employer or pension scheme. The information contained in this podcast should not be construed as advice and not be considered as a substitute for specific advice as the information is generic in nature. Where a podcast refers to legal matters please note that Hymans Robertson is not qualified to provide legal opinion and therefore you may wish to obtain independent legal advice to consider any relevant law and/or regulation. Hymans Robertson LLP accepts no liability for errors or omissions. Your Hymans Robertson LLP consultant will be pleased to discuss matters raised in this podcast in greater detail. Guests views are separate to that of Hymans Robertson.The information provided in this broadcast is not financial advice. Past performance is not a guide to the future. Please note the value of investments, and income from them, may fall as well as rise. This includes but is not limited to equities, government or corporate bonds, derivatives and property, whether held directly or in a pooled or collective investment vehicle. Further, investments in developing or emerging markets may be more volatile and less marketable than in mature markets. Exchange rates may also affect the value of investments. As a result, an investor may not get back the full amount of the original investment. Past performance is not necessarily a guide to future performance. Hymans Robertson LLP is authorised and regulated by the Financial Conduct Authority and Licensed by the Institute and Faculty of Actuaries for a range of investment business activities.

Behavioural science is changing how people make pension decisions, and in this special edition of Hymans Robertson On..., Kathryn Fleming is joined by Dr Hayley James, Jenny Hazan, Emily Trant and Dilara Uyduran to explore what that means in practice.

Recorded live at our 2026 Pensions and Retirement Conference, the panel examines how behavioural economics can sharpen member decision-making. From personalised nudges to the realities of engagement and the power of thoughtful design.

They also consider the implications for trustees and boards, leaving listeners with actionable ideas to test and apply in their own schemes.

If you’d like to follow up on anything discussed, please don’t hesitate to get in touch. 

Hymans Robertson disclaimer
This podcast has been prepared by Hymans Robertson LLP, and is based upon our understanding of events as at release date. It is designed to be a general summary of topical investment matters and is not specific to the circumstances of any particular employer or pension scheme. The information contained in this podcast should not be construed as advice and not be considered as a substitute for specific advice as the information is generic in nature. Where a podcast refers to legal matters please note that Hymans Robertson is not qualified to provide legal opinion and therefore you may wish to obtain independent legal advice to consider any relevant law and/or regulation. Hymans Robertson LLP accepts no liability for errors or omissions. Your Hymans Robertson LLP consultant will be pleased to discuss matters raised in this podcast in greater detail. Guests views are separate to that of Hymans Robertson.The information provided in this broadcast is not financial advice. Past performance is not a guide to the future. Please note the value of investments, and income from them, may fall as well as rise. This includes but is not limited to equities, government or corporate bonds, derivatives and property, whether held directly or in a pooled or collective investment vehicle. Further, investments in developing or emerging markets may be more volatile and less marketable than in mature markets. Exchange rates may also affect the value of investments. As a result, an investor may not get back the full amount of the original investment. Past performance is not necessarily a guide to future performance. Hymans Robertson LLP is authorised and regulated by the Financial Conduct Authority and Licensed by the Institute and Faculty of Actuaries for a range of investment business activities.

While charities and foundations spend a lot of time thinking about how best to achieve impact in their grant making, the impact that they can achieve from investment portfolios is often less well considered.

In this episode, Jaid Longmore and Chris King from Hymans Robertson are joined by Charlie Crossley and James Anthony from Friends Provident Foundation to explore what impact investing means in practice for charities.

They discuss common barriers, including complexity and trustee engagement, and share practical solutions, from collaborative initiatives like the Endowments Investing Challenge to using stewardship and engagement to drive impact beyond capital allocation.

You’ll hear simple steps to get started, including reviewing your holdings and defining what impact means for your organisation.


Hymans Robertson disclaimer
This podcast has been prepared by Hymans Robertson LLP, and is based upon our understanding of events as at release date. It is designed to be a general summary of topical investment matters and is not specific to the circumstances of any particular employer or pension scheme. The information contained in this podcast should not be construed as advice and not be considered as a substitute for specific advice as the information is generic in nature. Where a podcast refers to legal matters please note that Hymans Robertson is not qualified to provide legal opinion and therefore you may wish to obtain independent legal advice to consider any relevant law and/or regulation. Hymans Robertson LLP accepts no liability for errors or omissions. Your Hymans Robertson LLP consultant will be pleased to discuss matters raised in this podcast in greater detail. Guests views are separate to that of Hymans Robertson.The information provided in this broadcast is not financial advice. Past performance is not a guide to the future. Please note the value of investments, and income from them, may fall as well as rise. This includes but is not limited to equities, government or corporate bonds, derivatives and property, whether held directly or in a pooled or collective investment vehicle. Further, investments in developing or emerging markets may be more volatile and less marketable than in mature markets. Exchange rates may also affect the value of investments. As a result, an investor may not get back the full amount of the original investment. Past performance is not necessarily a guide to future performance. Hymans Robertson LLP is authorised and regulated by the Financial Conduct Authority and Licensed by the Institute and Faculty of Actuaries for a range of investment business activities.

Inside the conversations shaping the future of pensions. Recorded live at our Pensions and Retirement Conference 2026, this episode captures the energy, ideas and insights from the day.It brought together voices from across defined benefit (DB), defined contribution (DC) and the Local Government Pension Scheme (LGPS).

Ben Farmer and Elaine Torry spoke to hosts and delegates, capturing reflections on the moments that mattered, the ideas that sparked debate, and practical steps to improve member outcomes.

Topics include how members make decisions and what that means for scheme design. We also cover building resilient investment strategies in an uncertain environment, and the growing alignment across DB, DC and LGPS. We explore the evolving role of guided retirement solutions and the impact of AI. We also examine the contribution adequacy debate, with a focus on what action looks like in practice.

Whether you joined us on the day or are catching up now, this episode offers expert insight and fresh perspectives on building a meaningful legacy for pension savers.

If you have any questions on the topics covered, please get in touch.



Hymans Robertson disclaimer
This podcast has been prepared by Hymans Robertson LLP, and is based upon our understanding of events as at release date. It is designed to be a general summary of topical investment matters and is not specific to the circumstances of any particular employer or pension scheme. The information contained in this podcast should not be construed as advice and not be considered as a substitute for specific advice as the information is generic in nature. Where a podcast refers to legal matters please note that Hymans Robertson is not qualified to provide legal opinion and therefore you may wish to obtain independent legal advice to consider any relevant law and/or regulation. Hymans Robertson LLP accepts no liability for errors or omissions. Your Hymans Robertson LLP consultant will be pleased to discuss matters raised in this podcast in greater detail. Guests views are separate to that of Hymans Robertson.The information provided in this broadcast is not financial advice. Past performance is not a guide to the future. Please note the value of investments, and income from them, may fall as well as rise. This includes but is not limited to equities, government or corporate bonds, derivatives and property, whether held directly or in a pooled or collective investment vehicle. Further, investments in developing or emerging markets may be more volatile and less marketable than in mature markets. Exchange rates may also affect the value of investments. As a result, an investor may not get back the full amount of the original investment. Past performance is not necessarily a guide to future performance. Hymans Robertson LLP is authorised and regulated by the Financial Conduct Authority and Licensed by the Institute and Faculty of Actuaries for a range of investment business activities.