UK - The Pension Protection Fund (PPF) is considering changing valuation assumptions for pension schemes, to bring them in line with pricing in the buyout market.
It said it was considering making the changes in the light of recent developments and the expansion of the buyout market.
"The changes may result in fewer schemes entering the PPF because valuations based on the proposed new assumptions may mean they are able to pay benefits greater than PPF levels of compensation," the PPF said in a statement.
The last time the PPF changed these assumptions was in September 2006. The consultation period is open until 14 March.
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.
The lifetime allowance will rise to £1,054,800 from April next year as the Office for National Statistics (ONS) recorded inflation at 2.4% in the year to September.
The national procurement frameworks for the Local Government Pension Scheme (LGPS) has been expanded to include member data services.