UK - Legal & General senior actuary Joseph Lu has joined competitor Synesis Life as a senior manager.
Robin Houghton, a senior consultant with Watson Wyatt has also joined Synesis, the firm said today in an announcement, and will also take up a senior manager role.
A spokesperson said both positions were newly-created to strengthen its position in the increasingly competitive Uk buy-out market.
In earlier news, Edmund Truell, former head of Duke Street Capital, announced he had secured £1bn backing from a group of investors led by US financier Christopher Flowers for his pension buy-out firm, Pension Insurance Corporation (PIC).
PIC was one of the latest entrants into the buy-out market, which already includes L&G, Synesis, Prudential and Paternoster, with Goldman Sachs and Allianz Global Investors also considering similar moves.
HMRC has confirmed providers operating relief at source pension schemes can continue to collect automatic tax relief at a basic rate of 20% under new Scottish Income Tax rules.
The Pensions Regulator (TPR) is seeking "improved" powers to set a schedule of contributions in defined benefit (DB) schemes in the government's upcoming white paper, it has revealed.
New regulatory rules which require providers and advisers to produce annuity illustrations will not solve the problem of consumer detriment as they are "fundamentally" flawed, according to Retirement Advantage.
Paul Budgen is set to join financial technology and auto-enrolment (AE) firm Smart Pension as director of business development.