‘Bow tie’ risk management and its benefits
![Mid close up of a man wearing a suit, pointing to the words 'risk management'.](https://actuaries.blog.gov.uk/wp-content/uploads/sites/232/2019/10/Risk_Management_shutterstock_791606470-620x413.jpg)
Integrated risk management requires pension schemes to look at risks in the round, rather than considering each individually. This is because the risks are related – for example, funding risk is likely to be linked to either investment risk or employer covenant risk.