Risk Reduction

Matt Wilmington has joined Legal & General's (L&G) pension risk transfer business as director of strategic transactions.

Just Retirement and Partnership have finalised their merger to become JRP Group which will manage a total of more than £15bn assets.

Volatility of bulk annuity pricing is likely to continue in the coming months amid difficult market conditions according to Aon Hewitt.

The trustee of the Home Retail Group's pension scheme has agreed its future funding with Sainsbury's which is set to acquire the business from Argos.

The Kingfisher Pension Scheme has undergone a £230m medically underwritten buy-in with Legal & General (L&G) in a landmark deal for the bulk annuity market.

Pension Insurance Corporation (PIC) has written £900m of bulk annuity premiums in the first quarter of 2016 according to its end of year results.

Retirees can benefit from combining annuity and drawdown into their investment portfolio to avoid significant financial hardship in old age, according to a study.

The bulk annuity market had a record final quarter in 2015 as buy-in and buyout deals totalled £5.4bn, according to LCP.

Total funding levels of defined benefit (DB) schemes in the Pension Protection Fund (PPF) 7800 have continued to fall against a backdrop of market volatility and falling gilt yields.

Bulk annuity business in 2016 will outstrip last year's levels despite a slow start due to the introduction of Solvency II, according to Willis Towers Watson.