334: What do the terms ‘run-on’ and ‘surplus’ actually mean?

With surplus extraction now a realistic proposition for many DB schemes, ‘run-on’ could be an increasingly popular endgame option. In our latest DB podcast we continue our discussion of the endgame options available for DB pension schemes, and in particular, why the government’s review of the regulation around surplus extraction could potentially lead to increased desire among pension trustees to consider ‘running on’ their scheme. And what do the terms ‘run-on’ and ‘surplus’ mean in the first place? Mathew Webb, Legal & General’s Head of Endgame Solutions, explains all.  For professional investors only. Capital at risk