Employers could have to pay up to 10% more to buy out pension schemes after Solvency II regulations for insurers come in next year, says PwC.
Employers are looking to cut contributions
Operating profits at Pension Insurance Company rose in the first six months of the year, despite a 62% drop in new business for the bulk annuity provider.
Legal and General (L&G) has reinsured longevity risk relating to $2.9bn (£1.9bn) of pension liabilities in its bulk annuity business through Prudential Retirement Insurance and Annuity Company.
Plans to release public funds on setting up a special purpose vehicle (SPV) for Newham Pension Fund have been called in by the council's overview and scrutiny (OS) committee following concerns.
A string of mid-sized transactions have made for a record-breaking second quarter in the bulk annuity market, according to data from LCP.
Universities Superannuation Scheme (USS) has seen its funding deficit increase by £2.4bn in its latest triennial valuation as low gilt yields pushed up its liabilities.
The Pension Protection Fund is £3.6bn in surplus so is there potential for the lifeboat fund to begin insuring its liabilities? Natasha Browne investigates
In some cases compromising benefits is the least bad option
Newham Council has proposed creating an asset-backed special purpose vehicle (SPV) to reduce cash contributions to finance its defined benefit (DB) pension scheme.