Pension schemes face higher liabilities as improvements in mortality rates trend towards their highest level in a decade.

British Airways (BA) has pledged an extra £150m in annual deficit recovery contributions (DRCs) to the New Airways Pension Scheme (NAPS) over the next four years.

There has been a 30% reduction in the number of small scheme buy-in and buyout transactions, highlighting how insurer attention has shifted towards larger deals.

The Pension Protection Fund (PPF) has launched a retendering process for firms to sit on its assessment period trustee panel, with an increased focus on corporate restructures and insolvency proceedings.

KPMG has confirmed it has entered into exclusive talks with Exponent Private Equity to sell its pensions advisory unit.

Many schemes are actively thinking about defined benefit (DB) consolidation and are waiting in the wings for the superfunds to prove themselves before engaging, Clara says.

Small schemes are facing “obvious challenges” in grabbing insurer attention as “jumbo” deals are beginning to typify the bulk annuity market, Aon says.

Almost £35bn of defined benefit (DB) liabilities have now been insured this year after yet another giant buy-in by the Asda Group Pension Scheme with Rothesay Life.

The Pensions Regulator (TPR) will now seek to publish the first of two consultations on a revised defined benefit (DB) funding code in the new year, depending on the political environment.

The pensions schemes bill will digitalise pensions and provide savers with greater confidence for retirement, Guy Opperman has said.