Exclusive: £50bn of buy-ins need restructuring after GMP equalisation ruling

James Phillips
clock • 2 min read

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.

More than £50bn of buy-ins have been agreed in the market over the last 10 years, and the majority of them include ‘future-proofing' clauses to allow schemes to update the structure of benefits ins...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Risk Reduction

M&G announces third bulk annuity deal since re-entering market

M&G announces third bulk annuity deal since re-entering market

Insurer signed a £309m deal with unnamed scheme on 15 March

Jonathan Stapleton
clock 21 March 2024 • 1 min read
Morten Nilsson: Surplus extraction is a hefty prize but what's the price?

Morten Nilsson: Surplus extraction is a hefty prize but what's the price?

Brightwell CEO says trustees and sponsors must be clear on surplus flexibility rules

Morten Nilsson
clock 19 March 2024 • 4 min read
Bulk annuity insurers up their game on responsible investment

Bulk annuity insurers up their game on responsible investment

LCP also called for insurers to make further improvements

Jonathan Stapleton
clock 15 March 2024 • 2 min read
Trustpilot