Risk Reduction
'Fashionable' buy-ins delaying journey to buyout
Pension schemes could be accidentally pushing themselves further from their endgame by agreeing “fashionable” buy-ins with insurers.
Life expectancy grows but slowdown in improvements continues
British people born between 2016 and 2018 are expected to live up to 4.2 weeks longer than those born in the 2015-17 period, according to the Office for National Statistics (ONS).
DB schemes continue move out of equities in favour of illiquids
Over half of all UK defined benefit (DB) schemes have reduced their investment in equities over the last two years while diversifying into alternative growth assets, according to Aon.
Tate & Lyle secures £930m buy-in with L&G
The Tate & Lyle Pension Scheme has completed a £930m full buy-in with Legal & General (L&G), insuring benefits for around 4,800 members.
Schemes urged to act on bulk annuities as funding 'crumbles'
Defined benefit (DB) schemes should act now to insure members’ benefits before an “anomaly” in the markets is corrected, Prudential Retirement has said.
FTSE 350 schemes nearing buyout exposed to excessive risk
Growing market volatility could adversely affect defined benefit (DB) schemes nearing buyout over the next five years, Barnett Waddingham says.
L&G agrees £35m buyout with Edwards Wildman Palmer scheme
Legal & General (L&G) has entered into an agreement with US law firm Locke Lord for a £35m buyout of UK-based Edward Wildman Palmer pension scheme.
Rothesay Life secures record year with £3.7bn bulk annuity deals in H2
Rothesay Life has completed £3.7bn of bulk annuity transactions so far in the second half of this year, according to its latest trading update.
The potential pitfalls of a buy-in
While buy-ins can provide an immediate reduction to liability values, schemes run the risk of retaining key risks and storing up problems, says Jos Vermeulen
Scottish Widows launches standard annuity onto open market
Scottish Widows has launched its standard annuity onto the open market to sit alongside its existing enhanced annuity.
Sportech scheme completes buy-in with Just
The Sportech Pension Scheme has entered into an agreement with Just Group for a £2.5m buy-in ahead of a planned buyout.
Court blocks £12bn annuity transfer from Prudential to Rothesay Life
The High Court has blocked the £12bn transfer of Prudential's annuity book to Rothesay Life, citing the insurer's lack of "established reputation" and differing "capital management policies".
Hitachi scheme agrees hybrid benefit buy-in with L&G
The Hitachi Data Systems Retirement Benefits Plan has agreed a buy-in with Legal & General (L&G) Assurance Society, covering both defined benefit (DB) and defined contribution (DC) provision.
Insured self-sufficiency Q&A with Legal & General
Jonathan Stapleton speaks to Russell Lee about Legal & General's new insured self-sufficiency solution.
How BAT's buy-in has paved the way for future deals
Following British American Tobacco's £3.4bn buy-in this month, Kim Kaveh speaks to some of the key players about the process.
Rothesay Life agrees £520m buy-in with Cadbury scheme
The Cadbury Mondelēz Pension Fund has agreed a £520m buy-in with Rothesay Life, insuring benefits for around 1,900 pensioner members.
Bulk annuity market breaks yet another record with £17bn of first half deals
Around £17.5bn of buy-ins and buyouts were transacted in the first half of the year as market records continue to tumble.
Phoenix completes further £1.1bn buy-in with own scheme
Phoenix Life has completed a £1.1bn buy-in with its own defined benefit (DB) plan, the PGL Pension Scheme, it has announced.
L&G reports £6.3bn of bulk annuity sales in H1 as DC assets soar by 35%
Legal & General (L&G) completed £6.3bn of buy-ins and buyouts in the first six months of the year, with another £923m deal completed in July, the firm's half year results confirm.
HSBC scheme completes £7bn longevity swap with PICA
The HSBC Bank (UK) Pension Scheme has hedged its longevity risk with Prudential Insurance Company of America (PICA) in the second-largest ever deal of its type.
PICA launches reinsurance counterparty to back UK bulk annuities
Prudential Insurance Company of America (PICA) has launched a reinsurance counterparty, lending support to insurers that account for more than 90% of the UK pension risk transfer market.
British American Tobacco scheme completes £3.4bn buy-in with PIC
The British American Tobacco (BAT) UK Pension Fund has completed a £3.4bn buy-in with Pension Insurance Corporation (PIC), the largest buy-in transaction including pensioner and deferred members.
West Midlands Pension Fund set to absorb transport authority fund
The government is consulting on merging the £0.5bn West Midlands Integrated Transport Authority Pension Fund (WMITAPF) with the £15.7bn West Midlands Pension Fund (WMPF).
Applying behavioural science to pensions risk settlement
Tendencies to prefer the status quo and familiar names can result in slower or more irrational decisions, Aon says. James Phillips explores the impediments to risk settlement.
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