Risk Reduction
Getting ready for 2019 triennial valuations
Susan Martin says there are lots of challenges to grapple with ahead of next year's LGPS valuations.
Just Group nets £1.1bn of bulk annuity deals
Bulk annuity sales at Just Group have nearly doubled, with total deals amounting to nearly £1.1bn, the insurer's nine-month results reveal.
Budget 2018: PPF and schemes to fall in insolvency priority ladder
Defined benefit (DB) schemes and the Pension Protection Fund (PPF) are set to receive even less in sponsor insolvencies as the Treasury moves the taxman higher up the repayment ladder.
Schemes must address 'tricky' question of endgame planning, says Redington
Significantly improved funding levels and bulk annuity options have brought forward the need for defined benefit (DB) trustees to renew their focus on endgame planning.
Hitachi enters first pensioner buy-in with Scottish Widows
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.
No-deal Brexit: Contingency planning for trustees
Andy Palmer says trustees and employers should prepare for a no deal, which could pose big risks to sponsor covenants
One in eight FTSE 100 DB schemes 'still in worry zone'
The aggregate risk across defined benefit (DB) schemes in the FTSE 100 has fallen by almost a quarter since 2017 but 12.5% are still at risk of failure, research suggests.
UPDATED: The biggest buy-ins and buyouts announced since 2007
There have now been a total of 42 buy-in and buyout deals of over £500m announced since 2007. The full list, provided courtesy of LCP, is as follows...
UPDATED: Nortel scheme secures PPF-plus benefits in £2.4bn buyout with L&G
The beleaguered Nortel Networks UK Pension Plan has entered into a £2.4bn buyout with Legal & General (L&G), insuring members' benefits nearly a decade after its sponsor collapsed.
The return of the buyout: The key factors driving the resurgence of full insurance buyouts
Jonathan Stapleton asks how the combination of improved scheme funding and better insurer pricing could drive a resurgence in the take-up of full insurance buyouts.
Government Actuary: LGPS in better position after funds make 'significant' progress
The Local Government Pension Scheme (LGPS) for England and Wales is in a financially robust position and funds have vastly improved since 2013, according to the Government Actuary's Department (GAD).
Rothesay Life to acquire £860m equity release portfolio as PRA seeks higher security for asset
Rothesay Life has purchased an £860m portfolio of equity release loans as the Prudential Regulation Authority (PRA) is due to end its consultation on insurers' use of the asset to back business.
AA UK Pension Scheme completes £351m buy-in with Canada Life
Canada Life has signed a £351m bulk annuity contract insuring the pensioner liabilities of 2,510 members and dependents in the AA UK Pension Scheme.
Life expectancy improvements grind to a halt; Number of people aged over 90 hits record high
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
DB deficit could be halved by adopting new 'end-game' solutions
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how
L&G completes £285m buy-in with Fortune 500 company
A US company has completed a £285m pensioner bulk annuity for around 1,100 of UK members with Legal & General (L&G).
Greene King completes £50m buy-in with Scottish Widows
Pub retailer and brewer Greene King has signed a £50m bulk annuity contract with Scottish Widows for the Spirit Pension Scheme.
BA deal marks 'new chapter' for risk reduction market; £20bn-plus of transactions expected this year as megadeals continue
The Airways Pension Scheme's £4.4bn buy-in with Legal & General, announced this morning, is set to mark a 'fundamental shift' in market dynamics with deal volumes of £20bn-plus for 2018 now looking possible, consultants say.
Airways Pension Scheme lands £4.4bn pensioner buy-in with Legal and General
The British Airways sponsored Airways Pension Scheme (APS) has completed a £4.4bn pensioner bulk annuity buy-in with Legal & General.
PIC racks up £4.5bn of bulk annuity business in 'best ever' year so far
Sales in Pension Insurance Corporation's (PIC) bulk annuity business rose by 73% compared to the same period last year, its half-year results have revealed.
Melrose seeks buyout for GKN pension scheme
Turnaround company Melrose Industries is seeking to insure the benefits of one of the GKN pension schemes it took on when acquiring the aerospace business earlier this year, according to reports.
Hays conducts £271m buy-in in Canada Life's first deal of 2018
The £800m Hays Pension Scheme has completed a £270.6m buy-in with Canada Life, insuring all future benefits for pensioner members.
L&G conducts £300m longevity swap
Legal & General (L&G) has entered the small scheme longevity insurance market after completing a £300m longevity swap with a pension fund.
How the BHS successor scheme completed an £800m buyout
Over two years since the collapse of the high street giant, BHS pension scheme members will be able to put their anxieties to rest thanks to a bulk annuity deal. James Phillips explores the detail.
