Investment

The most common definition of a long-term investment horizon for pension schemes is ten years, according to research carried out by PP.

Top stories on PP this week have included a potential £2bn windfall for sponsors, a complex £2.5bn buyout, a government U-turn on freedom and choice and calls for a drawdown fee cap. Here's what you might have missed.

The TRW Pension Scheme has secured a £2.5bn pensioner buyout with Legal & General (L&G) after a year-long liability management project involving pension increase exchange (PIE) and enhanced transfer value (ETV) exercises.

The Financial Conduct Authority (FCA) plans to cut the adviser guidance guarantee levy by 50% and announces tougher rules on bodies delivering guidance.

The current pensions tax system is "entirely incompatible" with scheme designs that could be introduced under the Pensions Schemes Bill, Association of Consulting Actuaries (ACA) chairman David Fairs has warned.

Schemes sponsors could receive a £2bn tax windfall following a change in HM Revenue and Customs' (HMRC) policy on VAT recovery in response to two European Court cases.

The Daily Mail and General Trust (DMGT) has agreed a recovery plan with trustees of its defined benefit (DB) schemes that will see it contribute £350m over 12 years.

Mitchells and Butlers has agreed a ten-year recovery plan with trustees of its defined benefit (DB) scheme, after its latest triennial valuation revealed a £527m shortfall.

The government's Equitable Life Payments Scheme (ELPS) has now issued over £990.5m worth of payments.

Aviva looks at the three things it believes are crucial to the success of the de-risking process and how to arrive at these 'happy endings'.