The Pension Superfund (PSF) has moved a step closer to completing its first deal with the official registration of the superfund as an occupational pension scheme by HM Revenue & Customs (HMRC).
The Pension SuperFund co-founder Edi Truell responds to PIC’s call for a consolidator to take on smaller underfunded schemes.
Sponsors whose pension schemes complete buy-ins or buyouts tend to outperform their peers by between 0.25% and 3% on average, Mercer research finds.
PIC calls for creation of compulsory not-for-profit consolidator to take on smaller underfunded schemes
Pension Insurance Corporation has reiterated its call for the establishment of a new consolidation vehicle, run by a not-for-profit agency, to target smaller underfunded schemes with weak sponsors.
Just a fraction of liability growth since the start of the year will be offset by the impact of excess deaths caused by Covid-19, says Lane Clark & Peacock (LCP).
Covid-19 has caused a slowdown in the number of bulk annuity transactions, with buy-ins and buyouts expected to amount to a maximum of £25bn this year, Willis Towers Watson says.
Twelve years after its funding level was hit severely by the global financial crisis, the GHG pension scheme completed a £150m buy-in amid the Covid-19 economic chaos. James Phillips speaks to the key players about the journey.
MetLife has completed its first UK longevity reinsurance transaction, covering the risk of £280m of Pension Insurance Corporation (PIC) liabilities.
As an interim regime for consolidators is launched, Emma Watkins looks at how to enhance protection of members’ benefits.
The Pensions Regulator (TPR) has issued guidance for pension superfunds in a move which opens the door for a further wave of defined benefit (DB) scheme consolidation.
The pensions minister Guy Opperman says the interim regime for superfunds will provide insights on the route towards a permanent, longer-term legislative solution.
A scheme vulnerability analysis tool aiming to allow pension schemes to understand the likely impact of Covid-19 on their members’ life expectancy has been launched by XPS Pensions Group.
Nikhil Patel looks at how schemes have hedged longevity over the last decade, and how this will develop in the future.
The Unomedical Pension Plan has agreed to a £10m buyout of its 65 members’ liabilities with Aviva.
Chris DeMarco explains why the Covid-19 has increased opportunities for schemes to de-risk via bulk annuities.
Keen insurer pricing and streamlined services will lead to a surge in demand from smaller schemes to undertake bulk annuity transactions, Lane Clark & Peacock (LCP) predicts.
With bulk annuity markets becoming increasingly busy before Covid-19, James Geer looks at what steps trustees can take to improve their chances of transacting.
The British Bankers’ Association Pension Scheme (BBA) has completed a £95m bulk purchase annuity transaction with Aviva.
The 3i Group Pension Plan has agreed a £650m buy-in with Legal & General (L&G), insuring the remaining benefits within the scheme.
Pension schemes and life insurers should be prepared for a modest change to their assumptions for mortality rates in the post-Covid-19 world, an academic study suggests.
Volatile market conditions have led to a much wider range of pricing for pension scheme buy-ins and buyouts than has been seen for a decade, Aon says.
Legal & General has agreed two bulk annuity deals worth £116.2m with UK- and US-based IHS Markit schemes.
The Co-operative Pension Scheme (Pace) has entered into its fourth bulk annuity transaction of 2020, agreeing a £350m buy-in with Aviva.
After a bumper year, insurers are now facing a slower and smaller pipeline as schemes grapple with Covid-19, writes James Phillips.