Professional Pensions | 26 Aug 2008 | 01:00
Categories: Bulk Annuities
Some 180,000 UK employees will be members of pension schemes secured by insurance companies by the end of the year, HSBC Actuaries & Consultants research reveals.
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The consultant said up to one million members could be part of de-risked schemes by end of 2009.
It said it expected the buyout market to grow to around £12bn this year – and said the size of buy-ins and buyouts would continue to increase significantly.
HSBC Actuaries & Consultants head of corporate consulting Jonathan Sarkar said: "This shows the growth and potential of the nascent buyout market.
"The increase in insurers’ appetite to take on longevity and sponsor risk means that that there is now a wide range of solutions available to companies wishing to transfer liabilities away from a final salary pension scheme.
"The traditional ‘buy-out’ is now simply not innovative enough for most plan sponsors."
Categories: Bulk Annuities
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