Risk Reduction
Cancer Research completes £250m buy-in with Canada Life
The trustees of the Cancer Research UK Pension Scheme have signed a £250m pensioner buy-in with Canada Life, bringing the insurer into the mid-range de-risking market.
Aon Minet improves buyout position by £60m through ETV
The Aon Minet Pension Scheme has successfully completed a bulk enhanced transfer value (ETV) exercise in the latest stage of its de-risking strategy.
PPF consults on levy rule for schemes with no substantive sponsor
The Pension Protection Fund (PPF) is proposing a new levy rule for schemes that cease to have a substantive sponsor following a restructuring in order to protect other levy payers.
Land Securities' scheme enters £110m medically underwritten buy-in
The Land Securities Group of Companies' defined benefit (DB) pension fund has bought out around three quarters of its liabilities through a buy-in with Just.
JRP Group de-risking sales fall 24% after Solvency II rush
JRP Group has revealed its defined benefit (DB) de-risking sales were 24% down in 2016 compared to 2015 due to stagnation following a rush to beat incoming Solvency II requirements.
Smiths Group agrees £130m buy-in with PIC
Smiths Group's TI Group Pension Scheme has insured £130m of pensioner liabilities with Pension Insurance Corporation (PIC), bringing the scheme's total insured liabilities to £1bn.
Lincoln Pensions expands team with five hires
Lincoln Pensions has hired five covenant advice specialists to support the firm's increased growth following its recent acquisition by Cardano Group.
Annuity deals hit £18bn in 2016
The total value of annuity deals was 30% higher in 2016 than at the previous market peak in 2014, Aon Hewitt's UK Risk Settlement Bulletin has revealed.
Alcatel-Lucent agrees £100m buy-in with PIC
The trustees of the Alcatel-Lucent Pension Scheme have agreed a £100m pensioner buy-in with Pension Insurance Corporation (PIC).
Zurich and Mercer complete £300m longevity hedge swap
Zurich has completed a £300m longevity hedge swap with an undisclosed pension scheme of a small firm, marking its fifth such deal in 13 months.
FTSE 100 should ditch dividends to de-risk DB schemes
The top 100 UK companies should forego 2017 dividend payments to open new avenues to scheme de-risking, JLT Employee Benefits has said.
Aliaxis enters £36m medically-underwritten bulk annuity
Just Retirement and Aliaxis have agreed a £36m medically-underwritten bulk annuity deal in a bid to reduce longevity risk exposure.
Civil Aviation Authority enters £90m buy-in with PIC
Pension Insurance Corporation (PIC) has completed a £90m buy-in deal for the Civil Aviation Authority's (CAA) defined benefit (DB) scheme.
DB schemes shun de-risking in 2016
Sponsoring employers are being too cautious amid low interest rates and missing out on advantageous de-risking opportunities, according to analysis by JLT Employee Benefits.
Flawed discount rates are harming business
Michael O'Higgins argues a sensible approach to assessing DB cash flow needs would lead to better business decisions.
PPF mulls charging levy to schemes with no sponsor
The Pension Protection Fund (PPF) is working on plans to impose a levy on schemes that do not have a substantive sponsoring employer after a restructuring.
Will 2017 be the biggest year yet for de-risking?
LCP's de-risking report predicts the market for buy-ins and buyouts could top £15bn in 2017. Helen Morrissey takes a closer look.
IASB rejects calls to change DB accounting standard as it should 'reflect economic reality'
International Accounting Standards Board chairman, Hans Hoogervorst, has said arguments to change the accounting standard are "flawed" as it should reflect the economic reality, no matter how ugly.
One in four schemes will see no deficit improvement by 2036
A quarter of schemes may see no improvement in deficits in 20 years because many are still not integrating long-term covenant risk, according to research.
Over a third of DB schemes support reducing indexation
Defined benefit (DB) schemes should be allowed to restructure benefits to sort out funding deficits, according to top UK pension funds in a poll by Sackers.
PIC prices £250m debt issuance to meet buy-in demand
The Pension Insurance Corporation (PIC) has priced £250m of subordinated debt issuance to meet expected bulk annuity demand from defined benefit (DB) schemes.
Time to change inflation measures again?
Steve Webb looks at the potential impact of a new measure of inflation called CPIH.
DB surplus falls 15% in October under 'more realistic' discount rate
The UK's 5,945 defined benefit (DB) schemes had a £306bn surplus under realistic investment return assumptions by the end of October, according to First Actuarial.
Legal & General completes largest pension buyout of 2016
Legal & General has completed a £1.1bn pension buyout for the Vickers Group Pension Scheme which is part of the Rolls-Royce Group.
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