The Pension Protection Fund (PPF) is proposing changes to its levy rules for the next triennium from 2018/19 to develop a more accurate assessment of insolvency risk.
In a consultation paper published on 23 March, the lifeboat fund outlined two key changes that could result in almost two thirds of schemes getting a levy reduction. The first is to ensure scorecards...
The ICL Group Pension Plan has entered into a £3.7bn intermediated longevity swap via a Guernsey-based captive, with Swiss Re reinsuring the risk.
The Nortel Networks UK Pension Plan has agreed a further £105m buyout with Legal & General (L&G), topping up the benefits agreed in a prior deal.
There have now been more than 30 longevity swaps over £1bn publicly announced. The full list, provided by Willis Towers Watson and through PP research, is as follows...
The Association of British Insurers (ABI) Pension & Assurance Scheme has insured benefits for 191 members in a £26m buy-in with Aviva.
The defined benefit (DB) scheme of Shepherd Foods (London) has completed a £3m buyout with Aviva, insuring the benefits of 13 pensioner and deferred members.