Risk Reduction
Croydon sets up asset-backed funding to reduce pension contributions
An innovative funding structure has been agreed for Croydon Pension Fund. However, there are some concerns about the arrangement. Stephanie Baxter reports
Five action points for pension trustees as Brexit looms
Jonathon Land says 'wait and see' is no longer an option and trustees should be proactive to ensure they are on a robust footing ahead of 29 March
Just transacts £1.3bn of bulk annuities in 2018 after final buy-in with Pfizer
Just Group has completed a £158m pensioner buy-in with the Wyeth Group Pension and Life Assurance Scheme, bringing its total bulk annuity sales for 2018 to £1.3bn.
Let's make discretionary increases fashionable again
Hilary Salt asks if it is legitimate for trustees who have a fiduciary duty to members to assume that surplus should only be spent on locking in to lower returns
American bulk annuity boom could squeeze UK market
Buy-in and buyout pricing for British pension schemes could hike if the US or Canadian bulk annuity markets boom, Legal and General (L&G) has predicted.
Insolvency Service issues scam warning after £202m of pension savings 'misused'
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Co-op enters £425m buy-in in PIC's first deal of 2019
The Co-operative Group's Somerfield Pension Scheme has completed a buy-in with Pension Insurance Corporation (PIC), insuring the benefits of its pensioner members.
Bulk annuity and consolidator adviser K3 launches in pioneering move
The first specialist independent firm advising pension schemes on bulk annuities or moving to a consolidator has been set up with ambitions to shake up the market.
Is your scheme really buyout ready?
Jane Kola looks at what pension funds can they do to improve their chances of concluding a successful deal on good terms
Reuters Pension Fund agrees £625m buy-in with Canada Life
The Reuters Pension Fund has completed a £625m full pensioner buy-in with Canada Life in the insurer's largest ever deal.
'Healthy' life expectancy falls for women but improves for men
Females can expect to live a greater number of years in poor health than males, according to data from the Office for National Statistics (ONS) for 2015 to 2017.
PIC agrees £1.2bn longevity reinsurance deal with SCOR
Pension Insurance Corporation (PIC) has reinsured £1.2bn of its longevity risk with French company SCOR, the second deal between the two insurance companies.
Bulk annuity deals to reach £30bn in 2019, predicts Willis Towers Watson
The bulk annuity market is set to grow to historically high levels in 2019 with £30bn worth of deals expected over the year, according to Willis Towers Watson (WTW).
Rentokil Initial agrees £1.5bn buy-in with PIC ahead of 2020 buyout
The Rentokil Initial 2015 Pension Scheme has secured a buy-in covering 14,200 members in a £1.5bn deal with Pension Insurance Corporation (PIC).
Exclusive: £50bn of buy-ins need restructuring after GMP equalisation ruling
Insurers are set to face a "flood of requests" from pension schemes for buy-in contracts to be restructured to allow for guaranteed minimum pension (GMP) equalisation, Aon warns.
Schemes 'need patience' on bulk annuities as 2019 'queue' forms
The pension insurance market could be set for another record-breaking next year as schemes are already "in the queue" for deals at the start of next year, says Hymans Robertson.
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 44 buy-in and buyout deals of over £500m announced since 2007. The full list, provided courtesy of LCP, is as follows...
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