Bulk annuity transactions up 400% but buyout affordability falls

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Bulk annuity business was up fivefold in the second quarter of the year, but falling affordability pushed schemes towards buy-ins rather than buyouts, research shows.

JLT Pension Capital Strategies said £1.4bn of buyout and buy-in deals was written during the quarter, up from £350m written in the first three months. PCS noted bulk annuity prices were stable i...

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