Defined benefit (DB) schemes will have to wait an extra year and a half on average to agree a buyout compared to their pre-Covid-19 endgame journey plans, Barnett Waddingham estimates.

ITV has submitted a £31m offer to The Pensions Regulator (TPR) for the Box Clever Pension Scheme after being forced to set out how it would financially support the scheme following a lengthy court process.

Phoenix Group has reported a £36m increase in group operating profit in the first six months of this year, as well as strong cash generation of £433m.

Aviva’s operating profit fell by 11% in the first half of the year as Covid-19 hit business activity, although a growth in bulk annuity sales partially offset the drop.

River & Mercantile’s (R&M) fiduciary management arm has appointed PTL to conduct an independent value for members review of its portfolio of defined contribution (DC) clients.

The Hays Pension Scheme has agreed a six-year contract extension with EQ Paymaster to deliver services including GMP equalisation, data cleansing, and address tracing.

Scottish Widows has invested £2bn of pension fund assets to become the inaugural investor in BlackRock’s authorised contractual scheme (ACS) Climate Transition World Equity Fund.

NHS Pension Scheme members in England and Wales have been given a further six months to take advantage of the voluntary scheme pays process for the 2018/19 deadline.

Longevity swap usage is expected to grow further as more reinsurers enter the market to hedge the risk of deferred members, according to Mercer.

The number of defined benefit (DB) schemes employing a sole trustee model is expected to double over the next five years, according to an Aon poll of the sector.