The PPF could raise millions of pounds by billing last man standing schemes that have mistakenly benefitted from levy discounts over the years, writes Stephanie Baxter
At a glance PPF believes some last man standing (LMS) schemes have wrongly benefitted from reduced levies Some schemes are not legally LMS in structure despite saying they were in previous years...
The defined benefit (DB) scheme of Evonik Holdings UK has agreed a £544m full buy-in with Legal & General (L&G) Assurance Society.
Pension risk transfer volumes this year will look similar to those in 2020 as market volatility creates opportunities for schemes able to act fast, according to Willis Towers Watson.
Some £20.1bn of defined benefit (DB) pensions were advised to transfer between 2018 and 2020, while £10.2bn were recommended not to transfer, Financial Conduct Authority (FCA) data reveals.
Pension trustees will have much more involvement in business discussions and corporates will need to think more about pensions when the watchdog’s increased powers come into force, LCP says.
The Pension Schemes Bill has been scheduled for ping-pong, its penultimate step before becoming law.