RT Journal Article SR Electronic T1 Out in Front: Preparing for the Next Phase of Pension Risk Management JF Special Issues FD Institutional Investor Journals SP 108 OP 110 VO 2013 IS 1 A1 Sean Brennan YR 2013 UL https://pm-research.com/content/2013/1/108.abstract AB Enhanced pension funding conditions have been spurring an array of risk transfer actions, including both lump sum cash-outs and annuity buy-outs. These changes reflect a paradigm shift in pension management strategy—from a “planning” phase, where having a risk management plan in place defined success, to an “execution” phase that involves an entirely new and broader set of pension risk management decisions. Success in this era of both greater opportunity and complexity depends on engaging all stakeholders, budgeting for both time and expenditure, planning flexibility, broad scale monitoring, and viewing risk transfer as an additional asset class.