Trustees relying on equities and gilt yields to improve are taking a big gamble and could result in a rush of schemes going bust, says Hugh Nolan.
The Philips UK Pension Fund’s £2.4bn buyout – concluded in November last year – was the largest of its kind ever completed in the UK market.
The aggregate funding level of defined benefit (DB) schemes of the FTSE 100 companies has fallen to 85%, according to JLT Employee Benefits.
Prudential Retirement Insurance and Annuity Company (PRIAC) and Legal & General (L&G) have completed their third longevity reinsurance transaction since October 2014.
PP explores the option of putting the British Steel scheme through the bulk annuity market.
Johnston Press has revealed how it cut its pension liabilities by £53m through a medically underwritten study to review assumed life expectancy of its members.
Smaller schemes are increasingly looking to benefit from longevity de-risking opportunities offered through swaps and bulk annuities, accordingly to JLT Employee Benefits.
The funding level of the 5,945 schemes in the Pension Protection Fund (PPF) 7800 index improved slightly to 81% by the end of March.
The Employer Covenant Working Group (ECWG) has announced its formal launch as it publishes a guide for advisers, trustees and sponsors of defined benefit (DB) schemes.
Aegon has sold a £6bn UK annuity portfolio to Rothesay Life in a bid to focus on expanding its investment platform.
PP looks at how the Just Retirement and Partnership merger could impact market competition.
Pension Insurance Corporation (PIC) has concluded a £300m buy-in with the trustees of the VA Tech UK Pension Scheme, including a retrocession to Siemens' captive reinsurer.
Matt Wilmington has joined Legal & General's (L&G) pension risk transfer business as director of strategic transactions.
Just Retirement and Partnership have finalised their merger to become JRP Group which will manage a total of more than £15bn assets.
Volatility of bulk annuity pricing is likely to continue in the coming months amid difficult market conditions according to Aon Hewitt.
The trustee of the Home Retail Group’s pension scheme has agreed its future funding with Sainsbury’s which is set to acquire the business from Argos.
The Kingfisher Pension Scheme has undergone a £230m medically underwritten buy-in with Legal & General (L&G) in a landmark deal for the bulk annuity market.
Pension Insurance Corporation (PIC) has written £900m of bulk annuity premiums in the first quarter of 2016 according to its end of year results.
Retirees can benefit from combining annuity and drawdown into their investment portfolio to avoid significant financial hardship in old age, according to a study.
The bulk annuity market had a record final quarter in 2015 as buy-in and buyout deals totalled £5.4bn, according to LCP.
Total funding levels of defined benefit (DB) schemes in the Pension Protection Fund (PPF) 7800 have continued to fall against a backdrop of market volatility and falling gilt yields.
Bulk annuity business in 2016 will outstrip last year's levels despite a slow start due to the introduction of Solvency II, according to Willis Towers Watson.
Total funding levels of defined benefit (DB) pension schemes have improved since January despite volatile markets and low interest rates, according to JLT Employee Benefits.
Interest rate and inflation hedging levels rose during the last quarter of 2015 according to BMO Global Asset Management's Liability Driven Investment (LDI) survey.