The Financial Assistance Scheme (FAS) service will close to new applications from pension funds on 1 September.
The service was set up to help members of schemes that went into wind-up between 1 January 1997 and 5 April 2005 and were unable to pay member benefits. It will not accept new applications after 1 September...
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.
Regulatory guidance “could set too high a hurdle” for superfunds, Lane Clark and Peacock (LCP) warns.