The bulk annuity market will grow significantly over the next five years in spite of higher costs due to low interest rates and Solvency II capital requirements, according to Fitch Ratings.
Total deficits of defined benefit (DB) schemes in the Pension Protection Fund (PPF) 7800 increased by more than a third over last month against a backdrop of falling gilt yields.
Transfer values have recovered from a sharp fall at the end of last year on the back of falling gilt yields, according to Xafinity.
Pi Partnership has acquired independent trustee business Temple Trustees from Burges Salmon as the consultancy firm looks to expand.
This week concerns escalated over the impact of expected tax relief reforms amid revelations that reductions in recent years have already forced higher earners to leave schemes.
Pension deficits of the FTSE 350 companies peaked at £83bn in January on the back of equity market falls but have since dropped to £66bn.
The Pension Protection Fund (PPF) is seeking a panel of specialist firms to provide administrative and actuarial services for its scheme assessment process.
Johnston Press has reduced the deficit of its defined benefit (DB) scheme by £53m following a pension study and changes to its scheme rules.
The Communication Workers Union (CWU) has attacked plans from the Post Office to close its defined benefit (DB) scheme to future accrual on 31 August.
Low & Bonar has completed a medically underwritten buy-in of £34m of liabilities within its defined benefit (DB) pension scheme.