Risk Reduction
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.
Could surety bonds provide greater scheme security?
A rarely-used insurance product guarantees the payment of DRCs in the worst-case scenario. James Phillips asks if it is appropriate for DB schemes
PIC posts £7.1bn of bulk annuity deals in 2018 taking nearly a third of the market
Pension Insurance Corporation's (PIC) bulk annuity business transacted £7.1bn of buy-ins and buyouts over the course of 2018, its annual results reveal.
Phoenix delivers £800m of bulk annuities in first year in market
Phoenix Group transacted £800m of bulk annuities in 2018, its first year in the market since completing a deal with its own scheme two years ago.
National Express scheme completes full buy-in with Rothesay Life
The National Express UK Pension Scheme has completed a full buy-in with Rothesay Life, insuring benefits for all members.
Interest rate LDI increases 9% but inflation hedging drops
The amount of hedging against interest rate risk rose to £31.7bn in the fourth quarter of last year, according to BMO Global Asset Management.
Innovation in LGPS funding
Stephanie Baxter says some local councils' attempts to find new ways to make savings are welcome but must have strong safeguards
Pearson scheme completes £500m buy-in with L&G
The Pearson Pension Plan has entered into a £500m pensioner buy-in with Legal & General (L&G) in the insurer's first deal of 2019.
Croydon sets up asset-backed funding to reduce pension contributions
An innovative funding structure has been agreed for Croydon Pension Fund. However, there are some concerns about the arrangement. Stephanie Baxter reports
Five action points for pension trustees as Brexit looms
Jonathon Land says 'wait and see' is no longer an option and trustees should be proactive to ensure they are on a robust footing ahead of 29 March
Just transacts £1.3bn of bulk annuities in 2018 after final buy-in with Pfizer
Just Group has completed a £158m pensioner buy-in with the Wyeth Group Pension and Life Assurance Scheme, bringing its total bulk annuity sales for 2018 to £1.3bn.
Let's make discretionary increases fashionable again
Hilary Salt asks if it is legitimate for trustees who have a fiduciary duty to members to assume that surplus should only be spent on locking in to lower returns
American bulk annuity boom could squeeze UK market
Buy-in and buyout pricing for British pension schemes could hike if the US or Canadian bulk annuity markets boom, Legal and General (L&G) has predicted.
Pension consolidator vehicles: an insurer's perspective
In the first 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 from different angles and provide an insurer's perspective
Insolvency Service issues scam warning after £202m of pension savings 'misused'
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Co-op enters £425m buy-in in PIC's first deal of 2019
The Co-operative Group's Somerfield Pension Scheme has completed a buy-in with Pension Insurance Corporation (PIC), insuring the benefits of its pensioner members.
Bulk annuity and consolidator adviser K3 launches in pioneering move
The first specialist independent firm advising pension schemes on bulk annuities or moving to a consolidator has been set up with ambitions to shake up the market.
Is your scheme really buyout ready?
Jane Kola looks at what pension funds can they do to improve their chances of concluding a successful deal on good terms
Reuters Pension Fund agrees £625m buy-in with Canada Life
The Reuters Pension Fund has completed a £625m full pensioner buy-in with Canada Life in the insurer's largest ever deal.
'Healthy' life expectancy falls for women but improves for men
Females can expect to live a greater number of years in poor health than males, according to data from the Office for National Statistics (ONS) for 2015 to 2017.
PIC agrees £1.2bn longevity reinsurance deal with SCOR
Pension Insurance Corporation (PIC) has reinsured £1.2bn of its longevity risk with French company SCOR, the second deal between the two insurance companies.
Bulk annuity deals to reach £30bn in 2019, predicts Willis Towers Watson
The bulk annuity market is set to grow to historically high levels in 2019 with £30bn worth of deals expected over the year, according to Willis Towers Watson (WTW).
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