UK - The Pension Protection Fund's financial situation might drive trustees to consider a buyout to prevent their scheme falling into the lifeboat fund, Paternoster says.
He said: "The trend is likely to continue. In case of company insolvency trustees looked for a way to secure the same pension for scheme members. On the other hand, when a scheme enters the PPF members see their pension payment decrease."
ABI director of market regulation Peter Vipond added the increasing merger and acquisition activity might also boost the buyout market, as companies often need to clear the pension liabilities hurdle before engaging in such transactions.
In terms of other de-risking options, Wood said companies were increasingly looking at longevity swaps solutions. He said currently three large UK schemes were in consultation with longevity swaps providers and the first deals of this kind were likely to go through this year.
In presenting the guide, ABI senior adviser Sarah Knight said buyout providers had accumulated £22bn of assets under management so far and the business was likely to have huge growth in the future.
She also said out of the current £1.4trn total liabilities of defined benefit schemes in, the potential market for buyouts solutions amounts to about £400bn.
She explained as £600bn of FTSE100 company schemes were too large to be bought out and approximately half of the remaining companies would retain DB schemes because they are "part of their ethos".
Knight added the guide was intended for a wide audience including trustees, policy-makers and employers. The National Association of Pension Funds will support the circulation of the guide through their website.
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