The end of the London interbank offered rate at the end of this year is expected to have huge consequences for defined benefit schemes, which historically have been using it for different asset class investments and even for managers’ benchmarks.

With trustees needing constant information sharing, new software models and players come to the fore.

There are more than 1,000 pension lawyers in the UK, with such high numbers speaking volumes about the burden of convoluted regulation, impenetrable legislation and unworkable tax law as legal practitioners call for change, in an exclusive Pensions Expert survey.

This year could see the biggest shake-up in advisory services in a decade with the merger of Aon and Willis Towers Watson expected to be finalised by June 30, subject to regulatory approvals.

The cosy oligarchy of the Big Four accounting firms — PwC, Deloitte, EY and KPMG — is set to be shaken up in 2021 as mid-tier companies eye their bread-and-butter work of pension scheme auditing.

Hard-pressed housing associations, many of them charities, could face a huge increase in pension contributions to the Social Housing Pension Scheme in an attempt to plug a larger-than-expected £1.6bn deficit.

Trustees, employers and their advisers should brace themselves for a deluge of legislation and regulation in 2021 delayed by Brexit and the Covid-19 crisis, according to legal experts.

While the headlines are drawn to Brexit, Covid-19, and possibly its impact on defined benefit schemes, pensions commentators say an unstoppable force will continue to move steadily on: the consolidation of the defined contribution pensions sector.

At the tail end of what has been the second biggest year ever for derisking transactions, engineering services group Renew Holdings completed a £110m buy-in with Rothesay Life for its Lovell Pension Scheme.