The British Airways sponsored Airways Pension Scheme (APS) has completed a £4.4bn pensioner bulk annuity buy-in with Legal & General.
The deal - the largest pensioner buy-in ever completed in the UK market - will cover around 60% of the scheme's pensioner liabilities. The transaction accounts for existing longevity reinsurance contracts...
Pension schemes have been “shoehorned” into valuing liabilities against gilts, creating a “herd mentality” that does not reflect scheme funding accurately, says PwC.
As over 1,000 DB schemes seek to agree a valuation amid the crisis, Hope William-Smith looks at the considerations.
Trustees should have the ability to pause suspected scam transfers, respondents agreed in a Professional Pensions poll.
The bulk annuity market’s ‘repeat buyers’ will continue to drive market volumes through 2020 with cautious insurers on the hunt for “a track record of successful deals”, Aon says.
Defined benefit (DB) scheme members with weaker employers face a 50% chance of a cut in benefits due to sponsor insolvency, according to Hymans Robertson.