Royal Philips has completed a £2.4bn buy-in with Pension Insurance Corporation (PIC) that will enable it to wind up its scheme following earlier transactions to insure almost £1bn in benefits.
The latest deal covers approximately 26,000 of the scheme's 33,000 UK members. It follows a £484m buy-in with Rothesay Life in 2013, and two buy-ins with Prudential in 2014. The firm said the latest...
The Old British Steel Pension Scheme (OBSPS) has agreed a £2bn full buy-in with Pension Insurance Corporation (PIC), one step closer to exiting Pension Protection Fund (PPF) assessment.
Much like when selling a house, DB plans need to tidy up before approaching the bulk annuity market, says David Ellis.
Just Group has completed a £340m buy-in with the Ibstock Pension Scheme in the insurer’s largest ever bulk annuity transaction.
Punter Southall has launched a defined benefit (DB) scheme consolidator in a bid to allow small schemes to cut their running costs, reduce risk and improve benefit security and governance.
With a recent rise in the number of smaller schemes undertaking bulk annuity transactions, Charlotte Quarmby sets out why now might be the right time for smaller pension schemes looking to de-risk.