Risk Reduction
PIC signs £5.8bn of bulk annuity business in H1
Pension Insurance Corporation (PIC) has so far racked up £5.8bn of buyouts and buy-ins with defined benefit schemes this year, while reinsuring £7bn of longevity risk, it has revealed.
How Rolls-Royce completed its £4.6bn buyout with L&G
Following Rolls-Royce's record buyout earlier this month, James Phillips speaks to some of the key players about the process.
L&G deploys blockchain technology to streamline pension reinsurance
Legal & General Reinsurance (L&G) has launched what it claims is the UK's first pension risk transfer (PRT) execution platform to be driven by blockchain technology.
UPDATED: The biggest buy-ins and buyouts announced since 2007
There have now been a total of 48 buy-in and buyout deals of over £500m announced since 2007. The full list, provided courtesy of LCP, is as follows...
Legal & General completes record-breaking £4.6bn partial buyout with Rolls-Royce
The Rolls-Royce UK Pension Fund (RRPF) has insured benefits for around 33,000 pensioners in a record-breaking buyout with Legal & General (L&G).
How trustees can react to the regulator's DB funding code
Matthew Harrison looks at what the forthcoming defined benefit funding code of practice means for pension schemes
Five priorities for trustees one year after GDPR
Sackers has set out key areas for trustees to focus on and keep high up on their agendas after the General Data Protection Regulation (GDPR) was introduced last year.
M&S completes £1.4bn buy-ins with Phoenix and PIC
The Marks and Spencer Pension Scheme has completed buy-in deals worth £1.4bn with two insurers, mirroring similar transactions last year.
Royal Mail cash-balance scheme records £9m surplus after first full-year
The Royal Mail Defined Benefit Cash Balance Scheme (DBCBS) has ended its first full-year with a £9m actuarial surplus, the company says.
Pension consolidator vehicles: an insurer's perspective
In the second of a two-part series, Russell Lee (left) and Tom MacAulay (right) from Legal & General's Pension Risk Transfer business look at pension consolidation vehicles (PCVs) from an insurance perspective
Keep on running: The challenges of a self-sufficiency approach
Boris Mikhailov looks at the risks and benefits for schemes targeting self-sufficiency
Legal & General completes £95m buy-in with 3i scheme
The 3i Group Pension Plan has agreed a £95m bulk annuity transaction with Legal & General (L&G).
Prudential Retirement reinsures $2.6bn of UK pension risk
Prudential Retirement has completed around $2.6bn (£2bn) of reinsurance contracts for UK pension scheme longevity risk since the start of the year, it has disclosed.
PPF publishes risk management guidance
The Pension Protection Fund (PPF) has published contingency planning guidance for trustees to help them manage risk.
Merrill Lynch scheme completes £400m buy-in with Scottish Widows
The Bank of America Merrill Lynch UK Pension Plan has insured benefits for 915 pensioner members in a £400m buy-in with Scottish Widows.
PMI launches essay competition
The Pensions Management Institute (PMI) has launched its inaugural student essay competition.
Scottish Widows completes buy-ins totalling £830m with Peugeot and QinetiQ
Scottish Widows has completed two bulk annuity transactions totalling £830m, insuring benefits for the Peugeot Advanced Pension Plan and the QinetiQ Pension Scheme.
Some sponsors face a nasty Brexit surprise from their DB schemes
Marc Hommel says some employers are insufficiently prepared to engage their trustees on how they intend to manage liquidity and other adverse aspects resulting from Brexit
A bulk annuity market innovation for small schemes
The challenges for small pension funds to buy out their liabilities are well-known. A solution has emerged and is set to become popular across the DB universe, writes Stephanie Baxter
PIC invests £40m in Northamptonshire housing
Pension Insurance Corporation (PIC) has entered into a £40m agreement with Greatwell Homes to support the development of 600 affordable homes in Northamptonshire.
Exclusive: Rothesay Life completes £110m buyout with Laird scheme
The Laird Pension Scheme has completed a £110m buyout with Rothesay Life, insuring benefits for 940 members.
Dresdner Kleinwort Pension Plan agrees £1.2bn buy-in; Deal covers hybrid benefits
The trustees of the Dresdner Kleinwort Pension Plan have completed a full £1.2bn buy-in with Pension Insurance Corporation - covering the scheme's £900m final salary section as well as a £300m money purchase section.
FTSE 100 buyouts 'could boom to £300bn' over next decade
The volume of insured buyouts from FTSE 100 defined benefit (DB) schemes could increase from £5bn to £300bn by 2029, according to Lane Clark & Peacock (LCP).
Howden scheme agrees £230m buy-in with L&G
The Howden Group Pension Plan has completed a full pensioner buy-in with Legal & General (L&G), insuring benefits for around 2,000 members.
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