The Rentokil Initial 2015 Pension Scheme has secured a buy-in covering 14,200 members in a £1.5bn deal with Pension Insurance Corporation (PIC).
Insurers are set to face a "flood of requests" from pension schemes for buy-in contracts to be restructured to allow for guaranteed minimum pension (GMP) equalisation, Aon warns.
The pension insurance market could be set for another record-breaking next year as schemes are already "in the queue" for deals at the start of next year, says Hymans Robertson.
Susan Martin says there are lots of challenges to grapple with ahead of next year's LGPS valuations.
Bulk annuity sales at Just Group have nearly doubled, with total deals amounting to nearly £1.1bn, the insurer's nine-month results reveal.
Defined benefit (DB) schemes and the Pension Protection Fund (PPF) are set to receive even less in sponsor insolvencies as the Treasury moves the taxman higher up the repayment ladder.
Significantly improved funding levels and bulk annuity options have brought forward the need for defined benefit (DB) trustees to renew their focus on endgame planning.
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.
Andy Palmer says trustees and employers should prepare for a no deal, which could pose big risks to sponsor covenants
The aggregate risk across defined benefit (DB) schemes in the FTSE 100 has fallen by almost a quarter since 2017 but 12.5% are still at risk of failure, research suggests.