Allowing struggling defined benefit (DB) schemes to temporarily stop paying pension increases could help them get back on track while avoiding huge cuts to members’ pensions.
Demand for buy-ins is set to triple over the next decade as more defined benefit (DB) schemes look to offload their liabilities to insurers.
Costain Group’s defined benefit (DB) scheme deficit has risen by £16.9m in one year, according to its interim report.
Deferred members dominate the DB universe but the high cost of insuring them makes bulk annuities out of reach for many schemes, even more so since the introduction of Solvency II. Kristian Brunt-Seymour explores what schemes can do.
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The desire to de-risk schemes and move to a more sustainable and predictable footing for the future has never been greater. But at the same time, the appetite to de-risk is growing; scheme deficits have been increasing, meaning the affordability of such risk reduction can be challenging. This supplement looks at risk reduction and the extent of trust in pension scheme advisers and providers.Download