Risk Reduction

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.

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.